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Touched Strong Resistance and wait for the broken trendline and also a reversal candle
Good Luck! :)
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 ...
this is a real time trade here. On GBPCHF price has reached a level where often times in the recent past it's found resistance or support. You can see every time it got there, price had some kind of reaction to that level. Now price has come back to it and it's forming RSI divergence while climbing up. The last candles make me think we could be headed ...
Monthly: The move from the year 2000 to the 2015 lows, could be seen as an Elliott Wave 5 wave bearish count (impulse). If this is the case, then we are in the corrective formation higher. The most important factor to take away from this timeframe is the fact the Ichimoku Cloud continues to stall (cap) buying.
Weekly: Levels close to 1.3414 continues to find ...
1.Weekly Trend line valid
2.Support broken Resistance validated
4.Profit margin 1:3
5.Breach of higher Bollinger band
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!
oday’s speech of Bank’s President, Mark Carney, seriously weakened pound sterling. As a result GBPCHF on H4 formed a Bearish Engulfing Formation. The candle forming the aforementioned formation establishes a lower low and its closure took place under the support area of 1.2387. This could therefore mean the end of bearish correction that began after UK elections. ...
we were waiting for a nice selling signal on this pair, and maybe this is happening. Price has reached another key level of daily structure and the RSI is in divergence on the daily as well as overbought on this timeframe. Moreover you can see price action has given the first signal of rejection with a pinbar (long wick to the top) that could be ...
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 ...
The last 3 days have seen 3 indecision doji candles suggesting the BULLS are running out of strength.
As long as we remain above the 200 on the DTF we must assume we are still in an uptrend but with RSI weakening, a move back to support must be favourite.
I'll be looking for a move down to 1.25 in the next trading week and see if support here holds. With political ...
Extremely complex technical picture on GBPCHF with price straddling the daily candle and trendlines above and below.
SELL below 1.2454
BUY above 1.2544
(see GBP/USD for further analysis)
today i want to share with you a simple harmonic pattern that's about to complete on this pair. I think this could be a good sell since price is coming up to retest an important structure level on the daily chart.
Stops above X, targets as usual for patterns!
GBPCHF finds itself at critical support. 1.2269 looks like the last line of defense for G/C BULLS and a break beneath this level could signal a deeper move south.
The downtrend in place since the 22nd February continues though TDI studies are now stretched a look ready to move north.
Much depends now on news next week so its difficult to say which way we're going ...
very simple trade, price has completed an AB=CD pattern on this pair, right at the most previous structure level. Also, it has created a nice long wick to the top candle that closed as engulfing, with RSI overbought condition in our support.
Waiting for a little pullback in order to short the market and get at least a 1:1 RR on the first target that ...
It will need to pull back, target fibs at previous structure;