After a strong bearish movement,
GBPCHF formed a cute double bottom formation on 1H.
To trade the pattern wisely, wait for 1.2574 - 1.259 neckline breakout.
We need an hourly candle close above that.
Then buy on a retest.
Goal - 1.2635
Stop - 1.2535
In case of a bearish violation of the pattern's lows setup will be...
Over the last years there were periods when US stocks outperform EU stocks and periods were EU stocks outperformed US stocks. Almost like a perfect oscillation. Currently EU stocks have been consolidating for quite some time and especially German stock, so maybe all stocks do well and EU ones do better. The secular trend when adjusted for EURUSD rates too, is...
The forecast for the USD/CHF remains bearish after price action moved below its Ichimoku Kinko Hyo Cloud, which has taken a bearish bias, expected to increase selling pressure. While volatility is likely to increase over the following few trading sessions, the Tenkan-sen and the Kijun-sen show signs of rising bearish momentum.
Check the Links in Description and...
Expecting major positvity fundamentally to act as a catalyst to the anticipated bullish reversal within our current descending channel.
We would wait for BAR (Breakout and Retest) before scaling in with heavy lot sizes
EURCHF is trading around a key daily pivot.
I see the ma crossover as the confirmation to open short position.
A fall is expected at least to 1.091
Risk no more than 1 % of your deposit.
Please, support this idea with like and comment!
German Factory Orders for April are predicted to increase 1.0% monthly. Forex traders can compare this to German Factory Orders for March, which increased 3.0% monthly. Spanish Industrial Production for April is predicted to increase by 12.6% annualized. Forex traders can compare this to Spanish Industrial Production for March, which increased 12.4% annualized....
No nonsense approach simple clean price action trading all info in picture apart from the strategy (use your own SL according to your OWN risk management
THIS IS NOT FINANCIAL ADVICE, MY OWN ANALYSIS FOR PERSONAL USE)
Direct Message me for info.
FOLLOW SHARE LIKE IF YOU WANT MORE clean ideas
looking to make a change in all this guess work, want to make...
Welcome back Traders, Investors, and Community!
Check the Links on BIO and If you LIKE this analysis, Please support our page by hitting the LIKE 👍 button
Traders, if you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this.
Feel free to request any pair/instrument analysis or ask any questions...