danialmoayeri

danialmoayeri

As I mentioned in my previous post, Price is (potentially) on the verge of a significant breakout out on the upside on the superior timeframes, namely the weekly and monthly. The daily reveals an additional layer of confluence; a perfectly textbook Wyckoff Type 1 Accumulation Schematic.

danialmoayeri

This particular analysis is part one of a two-part analysis. GBPCHF is progressing towards completing a 'descending wedge' pattern on the monthly timeframe, indicating a loss in bearish momentum. I personally hold a bullish directional bias.

danialmoayeri

If my analysis is correct, this could be an excellent trade.

danialmoayeri

Possible short if price tests the monthly resistance zone again.