Price had previously been in downtrend for a long time , past the lowest price zone , Price is pulling back into zone and resistance line.
BREAKOUT occurring ???? anytime soon , what can we consider ? Brexit ?.
(feedback ,thoughts or criticism welcome)
comment about your keyzones
Red area highlighted has been a long standing support for this pair for a very long time. There has been a bounce from the last 4H, hopefully this will rally to the trend line.
Update to follow when entry is made.
She needs to stop looking in the mirror ;p
Take note of this key resistance turned support zone that price is currently at as I wont spoon feed you forever! So we are expecting bullish movement from this area.
This is a good area and is obviously where big banks have set orders previously, so start thinking like a big investor and start making money instead of...
looking on the day chart there is a clear bull flag pattern. this has shown a clear break to the upside. the line of PSR (previous support and resistance) has been chosen as a clear area on the line chart (closing price). once this has retested the PSR line the T1 is 1.31577 T2 is 1.32597
this is quite particular as a case study. Here on GBPCHF i've gone down to a lower timeframe because i was looking at the daily chart and i saw a double top with RSI divergence. Thus i went on the 4hr chart and looked for trading opportunities at the retest. Guess what i've found: another double bottom with again, RSI divergence at the second test. At...
if you look left you can see that the zone we're testing now is a very important one, that acted both as support and as resistance multiple times. As you may know from my previous analysis, i usually look for trading zones on the daily chart and then go on lower timeframes searching for an additional confirmation of that bias. In this case i want to go...
simple setup on GBPCHF. We've recently broke and closed above a daily structure zone and we're back to retest it right now. Price has formed a nice double bottom and it held the structure so far. Therefore, i'm buying this at market and aiming to take first target off at the neckline and possibly second target up at the next daily structure zone.
this is an hourly chart of GBPCHF and i'm taking this long trade because price is founding some support in a key daily structure and that meets my rules of engagement since we have a nice double bottom (you can see it by zooming in or going on even lower timeframes) and a nice engulfing candle on the 4H timeframe. Bigger picture is always important to...
if you know my trading style you would know why am i looking at this pair: we're bouncing back from a previous daily structure and in doing so price created a sequence of higher highs higher lows giving us an additional signal upon our long bias. If you zoom in the chart you would notice a double bottom formation happened right inside that blue box that...
Entered long on the pair after price retested and bounced off the trend line on the pair. Higher highs and higher lows (arrows) suggest long term target can be at the retest of the previous high. Stop loss & TP isn't final
Political uncertainty can move the pair down during election day in GB to the 1.245-1.24 area (watch out for fakeouts). This would retest the broken trendline resistance (light blue) and also tests the trend support zone (light green zone).