GBPCHF Short - Pins off 200 ema giving clear easy entry with no draw down
- Entry at top off 4th 5th 6th or 7th pin
- RSI bolinger breakout hook back in entry along with RSI (green) Signal line (red) cross entry
- Exit TP @ RSI bolinger breakout hook back in.
- TP 2 non...
The exchange rate is a symmetrical wave movement along an ATR axis. Therefore, the upward movement that is currently being developed can achieve an additional 3.88% increase. Then I expect a significant decline in the exchange rate, nearly 27%. The target price for the correction level is 24 usd. The target of the current rise is 30.72 usd.
PINS 5% decrease then 10% increase. Turning to a few days trading, the stock may be traded at 10%. The exchange rate adjustment level is 27.69 usd. It is advisable to wait for this decrease and start a long position from this level with a 30.58 usd target price. In the event that the wave structure discussed in the analysis develops, nearly 10% profit can be obtained.
Weekly pin has closed above a weekly pivot area (blue line) and current week is above the 2017 close which is usually a key area in most markets.
1st target is just below 2017's high but depending on how the market closes if it reaches this area will determine whether i stay in the trade or not/
price has been dropping steadily over last 2 years but has not made a new lower low below 1.2502 and as a result rejection candle above 50/200 sma line formed in september.
Entered one daily inverse head and shoulders with targets set previous highs