Since the start of the year, GBPCHF has been on an uptrend after finding support at 1.06, with the pair climbing approximately 1500 pips. Observing the monthly chart, there are five consecutive green candles, indicating a strong upward momentum. However, the pair is now encountering significant resistance at 1.17.
I plan to wait for the price to reach this level before taking a short position. My target is set at 1.12.
Please, be patient with this trade. Patience is golden!
I plan to wait for the price to reach this level before taking a short position. My target is set at 1.12.
Please, be patient with this trade. Patience is golden!
Trade active
After my analysis, GBPCHF is dropping like a stone. Every correlation is an opportunity to sell. my target remain 1.12Trade closed: target reached
500 pips drop completed as predicted
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.