Analysis on chart, we got a rising mode, 11 bars, no new low, and a breakout from a highest low channel, followed by price making a sideways correction, building up the mode and now falling into fibonacci support. I'm long from here, with a tight stop. Good luck if you follow me, I think it'll cross above the mode and go for the balance point. Cheers, Ivan.
The GBP is the strongest currency of all the majors, although the CHF is not particularly weak. But the GBPCHF pair has confirmed, with its low on May 19th, that it's following this up sloping fork. Short-term it's showing a robust up trend. If momentum is maintained, price is likely to reach the upper median line parallel (a continuation of an Andrews'...
19 MAY UPDATE: READ COMMENT SECTION BELOW. JUST WANT TO BRING THIS MAGNIFICENT SETUP TO TRADERS WHO ARE FOLLOWING ME. TAKE NOTE OF THIS INVERTED H&S ON KEY RESISTANCE WITHIN A WEDGE PATTERN THAT IS FINALISING. OBSERVE PRICE ACTION FOR SPLENDID RISK REWARD. PRETTY SURE THERE IS HUGE VOLUME OF BUYS AT THE BREAKOUT OF THAT INVERTED H&S. THOSE FOLLOWING ME SHOULD...
@TradeYodha (TradeYodha.com) #GBPCHF 15min Short Idea Reasons: 1. Previous structure with spikes 2. 50SMA lagging behind on 15 min that should attract the price 3. 10sma lagging behind og higher time frame i.e. 1 hour that should attract the price 4. FIB 1.27 extension in zone 5. possible harmonic move 6. retracement expected Must wait for confirmation before...
The Swiss franc is lower on the day amid speculation that the Swiss National Bank (SNB) will intervene in the foreign exchange market in order to actively weaken the currency. As you can see by the comparison, gold tracks the Swissy rather closely. Interestingly enough, gold's all-time high of $1,923 ended at about the same time the SNB decided to peg their...
Many of you that follow me are aware that I've been testing out a new theory on the Cypher pattern. In fact i initially had 2 theories that I wanted to test but after speaking to the creator we decided to focus on the one. I'm months away from completing this testing since free time is hard to find these days with the new born and all, but this is the first...
SNB is currently under pressure with the current attack of the 1.20 floor on EUR/CHF. Not maintaining this floor would represent a serious credibility risk for the Swiss central bank. According to recent comments from Danthine and Jordan they will do everything to maintain the floor even using "unconventional measures" (like negative interest rate or ultimately...
English : Channel up break down, but price still stuck in classic support and resistance area. Take long position with target 1.5500 need very tight stop level, because if new low perform, will open new path to support zone as bearish target this week. Indonesian : Channel up break down, namun harga masih tertahan pada classic support and resistance. Mengambil...
EURGBP approaches structure res. @798 for bearish bat completion. Another bearish bat awaiting @803 highs which overlaps with equal leg ABCD completion
If PA drops on today UK data (earnings, employment) and continues down bullish shark completion @5037 and bearish 5-0 wave3 @5025
The Bat is also a Gartley, with D = 1.27 AB... but first price has to go above B of course... I like this one...
GBPCHF after hit sell target was talk about it I'm bullish now target now 1.5315 above will be 1.5420. break this level open taregt to 1.5525 and 1.5600 support now 1.5140 below 1.5050 and 1.4990. --------------------------------- www.facebook.com freefx1.blogspot.com www.targetforexsignals.com
Here we have a Bear Bat with very nice risk-reward. But even if it triggers the SL on this trade, one could only switch to new levels for targets and SL to play the bigger Bear Cypher. Each trade is valid an there is no reason to pass on the second one if thats defined by a strategy. I know the Bat came just shy of 50% with the AB leg but within 1% its still ok...
second bearish entry setup with reasonable risk-reward here
This trade doesn't contain any Harmonic influence, as it is simply a retest of former support. The breakdown of the GBPCHF is clearly portrayed on the Daily chart, which has shown recent violations of two trendlines and a 2-3 week support. The current retest of this support-turned-resistance level is further displayed on the 1 Hour chart. With a clearer look into...