Price is currently trading in a 1hr accending channel and has approached a weekly trendline. There seems to be some resistance here. Im waiting for a bearish pin bar to go short. Initital target could be touch of lower tl, second target projection of break as on chart
I still have a bullish bias on this pair.
2 trade plans
Wait for a break of lower wedge and then retrace producing a false break, enter long.
Wait for a solid 4hr bearish close below Wedge enter short.
If and when i enter trade i will post another chart
This going to be my first trade idea for 2020.
GBPCHF is on on a rising channel support.
Ema 50 100 and 255 are all supporting the price.
Im waiting for the 4hr candle to close once it breaks i will enter long stops below 4hr close. Target FIB 61.8 Level 1.3075
Theres been a pull back on Cable recently. Price is now resting on an accending trendline and 61.8 fib level. Im going to wait for the daily close. hopefully a bullish hammer candle will be formed. then i can plan to go long
Price at 100 ema which is acting as resistance and has done on the last 3 occasions. potential a daily pinbar is forming. An ascending wedge has formed.
I'm looking to short on break and close of the wedge