I'm not place entry on the trendline like retail trader, but I trust smart money concept always working.
Looking for confirmation Entry Sell for this pair.
If you have any idea, leave comment below, and Like this post.
as we see gbpchf has broken the bottom trend line and the support line.
and now the position of the candle is currently retest in the Fibonacci area.
so we have to find the right moment to enter the sell position
Looking that this Pair on Daily Time frame and shorter Time frame there is to room for it to ride up a little bit to the nearest Resistance Level 1.3123- 1.3200 before the bearish mode will start. Look to Sell around 1.3123 to 1.3150
this is my setup for GBPCHF for the next week.
I will open 3 positions with 3 different targets at the fibonacci retracements.
The price is in a ranging market at the daily timeframe.
Have a creat trading week.
GBP/CHF 1D Chart: Heads towards 55-day SMA
The British Pound is simultaneously fluctuating against the Swiss Franc in three different patterns. The largest ascending channel started to form a year ago and nowadays consists of three reaction highs and two reaction lows. The medium ascending channel represents a fragment of the dominant formation and is lying...
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.
Firstly: As a Londoner myself, it is deeply distressing to know of the recent terror attacks at London Bridge + Borough Market. My heart goes out to all those that have lost their lives to cowardly acts of terrorism that try to cause separation within our nation and everywhere around the world.
On the 10th of May 2017 price reached 1.30309 forming a...
This pair has broken above the 200 day MA - and really, I firmly believe that the Brexit overall us going to be good for the pound in the long run. As long as this pair remains above the 200 day moving average now, and doesn't break below 1.42700 I'll be holding long term.
If you would like to get some more analysis...
Finding previous tested support. It's either a breakout short or reversing upwards. It seems to be indicating oversold, but I'm hesitant to storm in before it's confirmed. GBP is not strong, macro economic wise. Keep an eye out for GBPCHF.