Is GBPCHF – running out of steam ?? – the week of 06 April 2023
Updated
As my H8 chart shows, this pair has been struggling to keep making higher highs. In fact, we are now seeing marginally lower highs. The recent high at 1.9797 is worth keeping an eye on. If the next high is lower than that and the recent low at 1.9610 gets taken out, this pair will be bearish. If however, we get a higher high, this will negate my analysis.
There is a big advantage in getting into a trend early, and we could get it here.
If this works out as I expect, this trade will have an open target. My stop just above the recent high will be gradually moved lower, taking care to give enough room for spikes and for other movements that price always makes.
Nothing is 100% in trading, so as always, use sound money and risk management and stay patient in all your trades. If you like my analysis, please give it a “thumbs up” and follow me to get even more awesome content.
What do you think about this trade idea? Please comment and share your thoughts!!
There is a big advantage in getting into a trend early, and we could get it here.
If this works out as I expect, this trade will have an open target. My stop just above the recent high will be gradually moved lower, taking care to give enough room for spikes and for other movements that price always makes.
Nothing is 100% in trading, so as always, use sound money and risk management and stay patient in all your trades. If you like my analysis, please give it a “thumbs up” and follow me to get even more awesome content.
What do you think about this trade idea? Please comment and share your thoughts!!
Trade active
I have not entered a position on this yet, PA has not been encouraging. I'll see what happens next week and may decide to discard this idea.
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