Price back down at daily support again & has been ranging between the 61.8% & 50% fib level.. Price tried multiple times to break the level its at now but quickly pushed back to the upside, & has rejected this support level since the market has opened. So I am anticipating a bounce from here a break of this support zone will send this pair steep to the downside
Price is at daily support / trendline support. It is very likely that price from here can see a bounce back to the upside, however if we get a break & retest to the downside I will be looking for potential shorts..
After the nice 230pips drop on the last trade on this pair (see relate ideas below), I spotted another potential bearish Bat but higher. We could do a long all the way up to the completion of this Bearish Bat at around 1.3431/47 Let's see how the market opens on Monday, for us to take the trade.
Currency Pair: GBP.CHF Time Frame: Daily, 4hr & 1hr Predicted Direction: Short Live GBP.CHF updates will be available in the comments section below
Check the chart annotations for specific details and updates.
Inspired by one of my student's sharing. He spotted a bearish Bat on the FTSE. Let's see how this opens later today. Price already close to PtX, a natural resistance level. Hopefully price reacts to this levels, drops and this will be a catalyst to for another leg down on my GBPCHF short.
Currency pair - GBP.CHF Chart timeframe - 4hr Area of interest - 1.3105 & 1.3002 Chart pattern - Bullish Cypher Potential target 1 - 1.3245 Potential target 2 - 1.3331 Potential extended target - 1.3375
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Pattern completed and price had an initial reaction to it. Came back up to retest the highs again and dropped again. Currently price leaving the PRZ
Set buy limit as chart. Target 280 pips ++
Buy will be very short term, im looking for sell setups...
Volatile breakout in gbpchf, looked like a false breakout at first but bulls seemed to have won. + Bullish engulfing candle.
watchout of breakout and then you can trade it. if you find this analysis useful then like and comment :)
Possible ways after a breakout.Also if the breakout to up, there will be possible double top.
The pair formed double bottom and this is the 3rd attempt to confirm the breakout and it look like a failed breakout at the bottom of the range. Look to enter long in case that the you see higher low or double bottom on the 15m Chart. Good luck:)