GBP has been one of the weakest currencies for some time now and it's easy to see that from this chart The FX market has been quiet for the majority of the week and it looks like GBP tried to regain some ground albeit slowly It could continue to gain but the overall bearish channel is what I'm focused on. I'm watching for bearish setups on GBP pairs but waiting to...
Inverted Head and Shoulders – price reaching the height(s) of the inverted Head, approaching previous support zone and the falling trendline for the profit stop setup of previous long position. Watchlist for future short positions.
- MACD line just crossed below SIGNAL line -> beginning of a BEARISH DOWNTREND
- RSI 14 is facing downwards
CHF/GBP price seems to be breaking the neckline of the DOUBLE TOP PATTERN. I would put my entry when the neckline breaks so that I can maximize my profits!
Looks like a good time to enter in a short trade (1-week timeframe)
Market considerably bullish on the 4hr and daily charts. Broke through long term resistance at the 0.8540 area. The pair is now trading in uncharted territory having reached new highs.
The break and bounce of the resistance, now turned support can be seen clearly on the hourly chart.
Besides the. fact that the RSI has been recently oversold, we can also see...
.: TLRwealth Analysis :.
#CHF #EURCHF #GBPCHF #CHFJPY #CADCHF #AUDCHF #NZDCHF #USDCHF
In this analysis, #TLRwealth will find the best opportunies for CHF by "multi & inter convergences" between all the major #currencies in the #forex market.
From Y1 (yearly) timeframe to D1 (daily).
And in separated threads analysis, we will spot the best...
Indicator: 9 Seasons Rainbow Multi TimeFrames Pattern
Short Timeframes: 1H: Red -> Green
Medieum Timeframes: 8H: Blue
Long Timeframes – Context: Green Series
Other Signal: Inverse Head & Shoulder. Structure Support
SETUP: Wait & Long Bullish Breakout the neckline
ENTRY @ 0.8359
SL @ 0.827
T1 @ 0.847
T2 @ 0.855
Based on the ADX indicating a weak trend strength (below 20) currently, and heavy resistance at 0.8279, the trend will be bullish when significantly below 0.8279 and bearish when at 0.8279.
The trend will change towards the end of 2021 when the resistance and trend lines converge.
At this point, I would employ a strategy of going short when at 0.8279 and going...