Hi traders, sorry I didn't share this in time, but here, we are expecting another correction to the upside before a break to the downside. However, this is not predictive. We'd be ready to move if the market provides another bearish condition/entry, afterwhich you are free to hold till about 90% of the correction is achieved.
THANKS AND GOOD LUCK.
GBPCHF is trading in a bearish trend since April.
Setting a new structure low in August, the price retraced.
For the last two weeks, we see a sharp bullish rally.
Yesterday the price reached 1.28 key daily structure resistance.
A trend-following move may initiate from that.
To catch it, on focus is a rising...
Hello traders, here we have ourselves a beautiful GBPCHF setup.
This trade has multiple take profit levels with our first being at 170 pips! and our final take profit at 300 pips!
Overall we have a minimal risk of 30 pips max for this pair which is above the previous structure level and I can also see a shooting star formation which indicates a reversal...
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Colour key: Blue = monthly, Pink = weekly, Grey = daily/4h/1h
As you can see, price is approaching two key monthly resistance levels. Price has already touched the bottom one (1.26655) and i believe it has topped out, but my SL would be placed above the second level in case price continues upwards.
Wolfe Waves:Example of a bullish Wolfe wave on 15 mn GbpChf chart. Can be both bearish or bullish and on any time frames.
The key to recognizing the setup is symmetry. Ideally, waves 1-3-5 are established with very regular timing intervals between moves.
The other key ingredient is that the wave 4 should revisit the price range established by waves 1-2 for the...
Here is our technical analysis on GBPCHF .
The level where the price is trading right now is major
and the price will most likely bounce from that.
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We consider buying this GBPCHF pair because of a strong support below. We know what we are doing and we do what the market is doing. This is more than an institutional analysis. Invest wisely. Thank you for following me on tradingview.
Pair Name : GBPCHF
TimeFrame : 4Hrs
Direction : Short
Type : Swing
Target Range : 180 Pips
Vip opportunity Hit Target 1 +60 pips gain
Hold for more downside
Neat and clean chart with clear setup, no junk on...
This is a tough and you can see my notes on the chart. It is very range bound and price is right at the MAs. If you didn't take it, then that would be quite understandable. I'm actually standing aside on a sell on the GBP/JPY as it is. If you do take the sell, just watch your risk, and if you can, I'd be leaving that partial buy trade on with the stop inside the...