price is retracing from the tested support at 1.21286 and towards to 0.618 fibo level. Bottom bollinger band also moving away from the candles shows us a bullish movement.
Note: Trade at your own risk and fundamentals are not involved in this.
Like and comment on...
Looking for a breakout of previous days highs. We formed a trend channel overnight and have broken it in the early hours. Technically we had a 50% retracement and are looking for a 1272 extension.
Stop loss: 122843
No trailing stop here.
I am not a huge fan of trading the sterling solely on technical analysis. Not with Brexit development causing price fluctuations from time to time. I always prefer (tho not exclusively necessary) trading any currency while having an objective picture (market sentiment) of the market involving the currency I want to buy or sell.
I might be late to the party...
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade like i do, please write it in comment so we can manage the trade...
OK, the GBPCHF short was pretty sleek, but I was looking for the longs too early. Now that we are actually close to the area this is what I see, I don't think you should hold it all the way to the final target. Take profit along the way.
"In the name of Allah, the Most Gracious, the Most Merciful"
This is Risky Trade use Only 0.01 Lot.
GBPCHF LONG TRADE.
Note: This is only for Educational Purpose this is not Investment advice.
It's looking like GBPCHF will come back to test some levels that I've marked with green lines, in order to gain momentum to test the daily levels marked in red.
-It's looking very bullish because we've close above the previous swing highs that created our low.
Yesterday's trading range was 70-72 pips whilst the 20-day ADR was 102 pips. In a day when there was a risk event (political) and there was a stop hunt spike during the London session, it is indeed a bizarre day.
After a "missed" day, I always anticipate a price expansion within 36 hours. I am still bullish on Sterling hence I am still waiting and looking for a...
Price is currently holding firm at support,I suspect there will be an attempt to breech the resistance trendline plotted,which if there is no double top will then result in the continuation of the sell off.