Price is currently at Major support at 1.2284. TDI and ADX showing very clear signs of reversal just got to wait for aroon to confirm. Target is at resistance trend line. There will be a update of this pair so please can you give me a follow. I will also be posting more awesome trade opportunities just like this one.
DAY TRADE - EXPIRES AT 9PM UK
Trading within a Bearish Channel formation.
A break of bespoke support at 1.2341, and the move lower is already underway.
Bespoke resistance is located at 1.2387.
The bias remains mildly bullish but there is scope for a move in either direction at the open.
Further downside is expected although we prefer to set shorts at...
Looking at this pair we can see a descending triangle pattern on the 4hr time frame suggesting further continuation to the downside, targeting the bottom trendline which is also a low from a couple years back. Waiting for a correction to be formed before entering on the breakout.
-Expanding Wedge formed on weekly chart
-double bottom formed on support trend line on the daily chart; showing momentum to the downside has decreased.
-4H chart; 3 tests of support identify a consolidation. Also shows signs of bullish divergence.
Looking to go long..
Broken out of the channel formation to the upside.
Bespoke resistance is located at 1.2532.
There is scope for mild buying at the open but gains should be limited.
A higher correction is expected.
Although we remain bearish overall, a correction is possible without impacting the trend lower.
Preferred trade is to sell into rallies.
We look to Sell at...
FX:GBPCHF, OANDA:GBPCHF, SAXO:GBPCHF
Here is a video on GBPCHF. We posted a buy idea on the pair this morning (see the related idea).
Just a quick run through on the reasoning behind it and why we thought it was a decent speculative trade to have a look at today.
Feel free to comment if you have any questions or would like to discuss anything.
Full details of...