Price has broken out of the falling wedge pattern, looking for a retest of the previous trend line for momentum to continue to push this pair higher. Horizontal lines are taken off the weekly timeframe.
GBP/CHF - 4 HR Chart - There are four different technical aspects on this chart.
First is the double top, where price has formed a 'V' type pattern.
A psychological level which price often respects.
Thirdly, a break of an ascending channel which indicates sellers entering the market.
Finally, we can see a key level in the market which is acting as support...
1) Making higher highs and lows on higher timeframes.
2) Trading above 200 ema on daily and weekly.
3) Trading above the ichimoku cloud on daily and weekly.
4) Our entry above recent swing high where sl orders of bears are likely to be accumulated.
5) Zone to Zone trend riding.
Kindly trade at your own risk
Good Luck ✌️
Seasoned traders will know the influence USTECH has on world stock indices and several forex pairs.
I'm seeing something that I did not quite expect. I stick my neck out. But note that this market is not a true market. How? It is well known that it is artificially inflated by the influence of a powerful body called the FED. If you don't know the FED, stop...
due to a a weakening dollar and recession across the world i expect most people to hedge on fold especially since warrren buffet has invest 543million dollars in to a gold mining company. gold is expected to rise as per the economic cycle.
wair for retracement to 1900 area before you buy if you want a tight stop loss.