GBP/CHF range setup
Updated
GBP/CHF
GBPCHF
*
The simple technical setup for a long trade in a range market. We start analyzing from the Daily TF and we can spot the reaction to the resistance level and we go down to the 4HR TF for entry trigger. The price has already moved a distance from the area of the value zone but a 1:3 Risk Reward is still possible. We can go even to lower TF for better entry the important part is that the SL is placed a distance below the previous day's low so we are protected from fakeouts.
*Indicators*
The ATR-average true range which shows the average fluctuation of the price
Currency strength meter -shows how much one currency is strong relative to another in our case the green line is the GBP and the orange one is the CHF.
Check out my other ideas.
GBPCHF*
The simple technical setup for a long trade in a range market. We start analyzing from the Daily TF and we can spot the reaction to the resistance level and we go down to the 4HR TF for entry trigger. The price has already moved a distance from the area of the value zone but a 1:3 Risk Reward is still possible. We can go even to lower TF for better entry the important part is that the SL is placed a distance below the previous day's low so we are protected from fakeouts.
*Indicators*
The ATR-average true range which shows the average fluctuation of the price
Currency strength meter -shows how much one currency is strong relative to another in our case the green line is the GBP and the orange one is the CHF.
Check out my other ideas.
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In profit
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