The counter is currently in a 3-wave bear cycle. Further, it is currently forming wave B in the form of a bearish flag pattern. Hence, we expect the pair to find resistance around this area and commence its wave C.
GBPCHF right at support with confluence, 1-2.8 RR
GBPCHF long Entry: 1.19380 SL: 1.18866 TP: 1.22248 RR = 5.58 good luck
Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Price broke that resistance zone and went to find a new resistance. Then it came back to the support(31/08/2020)zone and you know what is next... ride it guys
buy TIME!!!! WHY?? 1.pivot point res(resistance) 2.FIBO EX RES 3.FIBO RET RES 4.BULLISH HIDDEN DIVERGENCE 5.REACHING THE DTOC TO OVERSOLD PLACE! 6.THE CROSS OF DTOC AND DECSENDING OF MOMENTUM 7.FINISHING OF ZIGZAG CORRECTION 8.static res 9.dynamic res 11.strong time resistance on that point 12.strong bullish candle
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Price has now pulled back down into the previous key resistance level, We will be looking into the lower time frames to see if this level becomes support, so that we can look for potential long opportunities tomorrow.
Price for GBPCHF has broken above this major resistance level last week and it is now turned into support! Price is now pulling back to retest this level. Will be expecting a continuation move to the upside!
H4: - Structure: uptrend - Tendency: Upward - Pattern: SHS pattern => BUY PLAN: As picture