Roker1

See the big picture first! (GBPCHF setup)

Long
FX:GBPCHF   British Pound / Swiss Franc
Hi guys,
after catching the big fall here (see attached analysis) today i want to show you both the charts i'm using just to give you a better perspective on how i look at markets. On the left hand side you can see the daily chart and price came back to retest a former resistance that should now become support. Why am i supposing this? This is the principle behind structure trading and it comes from a mixture of trading psychology and pure technical anlysis.
Since we're now testing this sensitive zone, i start to look for long signals on the 4hr chart: on the right hand side you can see the 4hr chart and you can also see a nice divergence on the bottom of the screen, together with a psychological number that's pushed price higher.
It looks fine to me, with stops below the low, target1 at little more than a 1:1 RR, target2 to be determined: if we catch the bigger trend, second target could be huge!

If you want to share your view, or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Trade active
Trade closed: stop reached
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano: https://www.youtube.com/c/MisterForexIT
Ultimo video: https://youtu.be/0rIFF-j4kdM

If you agree, like this chart! Thanks
My last (english) videoanalysis here: https://youtu.be/RUySg8LW6Iw

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Comments

Like your analysis roker and the strength of the daily pin from the potential support line is definitely making this a high probabilty trade.
+1 Reply
Roker1 dante24
@dante24, thanks mate!
Reply
nice work bro :) i need to look at these high time frames!

hope you enjoyed the files!
+1 Reply
Roker1 RippleNinja
@RippleNinja, big picture is key mate! Really enjoying your videos! Thanks again!
Reply
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