This is my long term view on GBPCHF.
I want to see a strong push down breaking below the resistance level to create new bearish market structure as illustrated.
We are still very Bullish GBP so are only trading it against the weakest currencies at the moment.
Our Currency Heat Map suggest we still need to be Trading GBPJPY and GBPCHF we also have been intraday trading GBPUSD
Price is currently consolidating before another move.. it is stuck at its current resistance level, we will need to wait for a breakout at either end before entering a position on this pair.
My bias is bearish so will wait for price to break the trendline before shorting
Apologies the chart looks a bit squashed but its easier to see everything on the daily
We can see price has reached its daily resistance and been rejected
We can also see price has tried to retest a broken support level
Now we are looking for structure to be broken / bounce off a fibo level and a short down to the 127.0 fibo level
Short from the trendline. Pair recently broken below the trendline we should see a retest at the trendline and resume the downtrend.
Let me know your thoughts.
Trade safe and good luck.
Hi guys,
Another nice and easy trade this. This pair is on a bullish run and we have seen a nice pullback followed by a bullish engulfing candle which suggest trend continouation of a bullish run. I have gone long on this and marked tp and sl for you as well.
Let me know your thought. Trade safe and good luck.
A trade which is one of my favourites at the moment, if we see rejection from the trend line as well as the 78.6 level will be taking a long up to the -68.7 fib level.
250 PIP GAIN 8/1 RR
Hi traders,
I hope you're well. As you must have witnessed recent rally on all GBP related pairs purely due to election sentiments. As things stands we can see the Tories are set for a majority but it is not easy as it seems and neither a plain sailing. We should see labour closing gaps and few other hiccups in coming days prior election and probably a hung...
