Wagwarn my slimes please leave feedback to help me improve and trade safe.
We're looking at GBPCHF here which is very very overbought so we're looking at a nice sell. We may be abit late to this move but market open will delay if a bit for sure with some volatility and spread AIDS.
Price has been ranging since the 11th March and we've seen that resistance...
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
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...
i've looking at this pair since we've reached the yellow zone highlighted on the left hand side of your screen. And i'm now getting involved because of the false breakout that you see on the right hand side of your screen. But let me be clear: first, we are at a major structure level on the daily timeframe, second, we've reached overbought condition on...
a simple harmonic pattern here on GBPCHF. It's going to complete right at a structure level: with stops above X and targets at 382 and 618 of AD leg it could be a nice shorting opportunity. Let's see how it plays out.
If you have questions or ideas to share, feel free to comment below.
Otherwise, see you in the next chart!
i know what you may think, probably after one day like this for the pound you wouldn't even consider a shorting possibility. However, patterns are always repeating, and our job, as techincal trader, is to find those patterns and keep trading them.
So here on the daily timeframe on the GBPCHF you can see that the today's rally has brought price up to the...
today i want to bring this analysis i've made on GBPCHF. As you can see we're in a daily structure zone (blue rectangle) and price is having some difficulties breaking through. Actually it's created a nice double top with RSI divergence (down on the bottom) right at this level, that's also lining up with the 618 retracement and a psychological number...