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
There is no need to extend words, You can see that the last time the gbpchf met the moving average 200 automatically he fell, We do not see why this will not happen now, Here too there will be a technical correction but not as sure as the previous time.
Entry Price: 1.3220
Stop Loss: 1.3370
Take Profit: 1.3080
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
Do not open any trades yet, wait for second high test. I personally have already opened a trade when it did it's high test before the last candle drop. Will keep it open or close it as the market gives more data as to which direction it wants to take.
GBPCHF has broken under the 4H 50 EMA and is failing to recover back on top. Following the drop, prices did a...
as we can see on GBPCHF a very nice bearish flag is forming so we can expect move to the downside after the break out! if price is aggressive we can ride this all the way down but if price is corrective then we need to get out because we can see move to the upside base on the big impulse on the left.
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.
Respected followers as we can see on the chart that on last friday GBPCHF made bearish engulf candle and also rejected 200 SMA on overbought of stichastic level which give us full surety of sell trade on this current price.
We Are Seeing A Nice Sell Opportunity Will All This GBP Pairs This One ( GBPCHF ) Included. Preferably, Look For Sell SetUps & Then Enter. This Can Also Act As An Entry Point JuSt Make Sure You ManAge The Trade With A Good SL (nOT tO tIGHT) Preferably 1.2964 Levels
Today we're looking at GBPCHF as it is forming a pretty ugly larger structure.
Yet we can't deny that if this pair shows a nice pattern, that we enter the trade.
So basically we have a larger structure on the H4, and we're looking for a failed pattern off the 50 EMA on the H1.
If this all sounds a little fuzzy for you, just hit the 'Follow' button...
Price found a strong resistance, broke the uptrend line with a strong bearish gap by the beginning of the week, then made a retracement and left us a pinbar. I`m going short as soon as the price breaks the lowest point of the bearish pinbar.
A SECOND OPPORTUNITY ON THIS PAIR, AND HERE'S WHAT IT LOOKS LIKE TO ME.
PRICE IS CURRENTLY IN AN EXHAUSTIVE OR CORRECTIVE PHASE MEANING THAT WE'RE LOOKING TO TAKE ADVANTAGE OF POSSIBLE CONTINUATION AFTER THIS WEEKLY RETRACEMENT. I'M WAITING FOR THE BREAK OF DAILY SUPPORT LEVEL 1.29200. I'D PREFERABLY LIKE TO SEE A STRONG BEARISH CANDLE TO SHOW A NICE BREAK OF...