📈💡 "GBPCHF Forex Analysis: Insights & Strategy" 📉📊
🕵️♂️ Let's analyze the GBPCHF forex pair for trading in futures.
📉 This currency pair is mostly bearish in higher time frames and cycles, indicating the recent weakening of Great Britain over the past few years just from the chart.
💪 In the 4-hour timeframe, we've had an uptrend and reached a significant resistance in the daily and weekly range around 1.14731, and we're currently reacting to this resistance.
💰 For a long position, our resistance is identified, and after breaking the line at 1.14731, we can consider opening a long position. However, note that since we're breaking a weekly resistance, we should place a large stop-loss around 1.13740.
🎯 For a short position, we have an uptrend line that is of the continuation type, and after breaking this trend line, even without a trigger and with candle confirmation, we can open a short position. But for better confirmation, after breaking the trend line and the 4-hour support at 1.13740, you can open your short position.
⬆️ Let me explain briefly about trend lines here. We have two types of trend lines: continuation and reversal.
🚀 The continuation trend line is when our main trend is bearish, and we're in a correction, moving on an uptrend line. With this type of trend line, we can open a position just by breaking the trend line without considering a trigger, solely with candle confirmation.
💡 However, the reversal trend line is when our main trend is bullish, and we have an uptrend line. If this line breaks, there is a possibility of a trend change or short-term correction, and we need a trigger for confirmation to open this position.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you! 😊
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
📉 This currency pair is mostly bearish in higher time frames and cycles, indicating the recent weakening of Great Britain over the past few years just from the chart.
💪 In the 4-hour timeframe, we've had an uptrend and reached a significant resistance in the daily and weekly range around 1.14731, and we're currently reacting to this resistance.
💰 For a long position, our resistance is identified, and after breaking the line at 1.14731, we can consider opening a long position. However, note that since we're breaking a weekly resistance, we should place a large stop-loss around 1.13740.
🎯 For a short position, we have an uptrend line that is of the continuation type, and after breaking this trend line, even without a trigger and with candle confirmation, we can open a short position. But for better confirmation, after breaking the trend line and the 4-hour support at 1.13740, you can open your short position.
⬆️ Let me explain briefly about trend lines here. We have two types of trend lines: continuation and reversal.
🚀 The continuation trend line is when our main trend is bearish, and we're in a correction, moving on an uptrend line. With this type of trend line, we can open a position just by breaking the trend line without considering a trigger, solely with candle confirmation.
💡 However, the reversal trend line is when our main trend is bullish, and we have an uptrend line. If this line breaks, there is a possibility of a trend change or short-term correction, and we need a trigger for confirmation to open this position.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you! 😊
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.