I've been a bull on this pair over the last month or so but now I've got a short opportunity on my radar looking at a retest of previous structure highs on the daily. As a countertrend trader it's important to realize that I'm not looking for the big long-term move, simply a brief correction.
If this correction rolls over more than expected there's a 2nd...
I've been a bull on this pair over the last month or so but now I've got a short opportunity on my radar looking at a retest of previous structure highs on the daily. As a counter trend trader it's important to realize that I'm not looking for the big long-term move, simply a brief correction.
If this correction rolls over more than expected there's a 2nd...
* I tried to post another chart with this showing the advanced pattern, but think I messed up doing so. I'll keep trying but here's the daily view that was suppose to compliment my other chart** SORRY GUYS
I've been a bull on this pair over the last month or so but now I've got a short opportunity on my radar looking at a retest of previous structure highs on the...
After creating new structure highs we're now retracing into previous structure setting up a low risk long opportunity. I'd be cautious about shooting for too high of targets since we still haven't passed the major structure area on the weekly.
Looking for bullish PA at the zone marked. I see this going to 1.60 before any real selling pressure comes in. The daily trend line is crazy, lets see if we get anything good here, if not there are good levels below which may also bring that trendline into play.
UP Trend is very strong but shark pattern is going to be complete, entering to the short position with a trigger may help to lower a risk of trading....
GBPCHF.The market is not clear .
break 1.5370 target will be 1.5445.
break 1.5330 target will be 1.5295 below will be 1.5265.
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GBPCHF is clearly in an uptrend, as the channel on the chart illustrates. We've pulled back 50% from the recent swing low to swing high, and are consolidating at a support level here. This consolidation after a pullback is what intrigues me, and led me to go long at 5245 with my stop at 5200. I'm targeting 5380, the top of the price channel, as the point to take...
Idea is based on a combination of Elliot wave, Median Line analysis and Fibonacci extensions. The rationale behind this technical analysis is shown on the chart. In this particular case unfortunately I can not tell you where my stop losses are going to be since I have dynamic targets (and thus stop losses). If you understand my approach then it shouldn't be that...
$GBPCHF still in the uptrend channel on the daily chart
There Correction on the four hours chart
Breaking the corrective channel
target will be 1.5260 next 1.5300 and 1.5340
eyes on 1.5400-20
Breaking the bullish channel target will be 1.5100 and eyes on 1.5000
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GBPCHF is trading in an ascending channel, bullish trend. PA reached the top boundary and 127.2 ext of previous high on very strong impulse leg from the bottom channel boundary. Although the 113 ext at 52 provides support last week the breach is likely to test 5122. The support can be observed on the RSI too (red TL).
Idea is based on a combination of Elliot wave theory and median line analysis. The rationale behind this technical analysis is shown on the chart along with specific targets and stop losses. Good luck guys.
EUR and CHF (European FX in general) likely bottomed for at least several weeks if not longer last week, but the exception may be GBPUSD, which traded into resistance on Friday and reversed. It’s also possible that GBPUSD made a major high in May. 12 month ATR fell to 2.82% in May. This indicator has registered such a low level on just a few occasions ever! ...
