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
GBPCHF labeled in a bullish impulse in Minor C (blue), with the last 5th Minute (green) wave awaiting to commence.
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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...
Confluences for Trade:
- Stochastic Overbought momentum (1D, H4, H1)
- Price action at Resistance of Parallel Channel
- Price action close to Another Horizontal Resistance Trendline
- Widening gap of EMA
- Fundamentally, uncomfortable to hold a Long GBP position because of Brexit uncertainty; to us, a delay in Brexit...
My opinion on GBPCHF is the price might touch the 50 SMA before continue to the downtrend or uptrend. But let see what the daily price action gives us for tomorrow. Patience is one of best weapon one trader must have . Good luck guys
Our last trade was a long entry based on a Bullish Alt BAt Harmonic Pattern. Trade reached its targets. - see attached -
The pair is printing a Bullish Flag pattern on the H4 Chart Time Frame. The bullish breakout of the flag is the fresh buying opportunity.
We have published a detailed Sterling Forecast. You may like to take a look before the week starts -...
The GBPCHF pair, like most of the cross-rates, is burdened by fluctuations within a clearly delineated flat. For some crosses (for example, EURGBP) - this is a narrow range, but for the others (for example, GBPCHF or GBPJPY), the range is very significant. But the general rule is still the same - buying from the bottom of the range, selling from the top. Now, the...
GPBCHF is Standing on D1 Resistance zone
There are several reasons to short this pair
Reason 1: D1 Resistance Zone
Reason 2: Triple Top ? (If Current D1 candle closes as Bearish "Engulfing"
Reason 3: H1 Ascending channel downside Breakout
Reason 4: Bearish RSI divergence
Reason 5: If Price pulls back to 1.3390-1.3410 and forms Bearish Price action candlestick...
The GBPCHF on the 4H chart is showing a beautiful Head and Shoulders pattern whereas the neckline has been broken. Now we are at a strong flipzone area that needs to be broken next. Let's see if we are going to break it or bounce back into the neckline.
As always, stay patient :)