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GBPCHF POSSIBLE LONG ENTRY!!!This pair has been trending up and on the higher time frame, there is still clean range to the upside for this pair to move and fill. With the evidence of a bullish pennant, i believe this pair to be pushing up further more to fill the range marked by the green lines. I also believe that according to the COT data, this week, the short move involving the CHF has happened already and the commercials have geared up for price to move up. (my opinion). We shall just have to wait for the report today to confirm that. Until then, it appears bullish. What are your thoughts on this pair? Please leave a comment.
Long
by joebakwa7
RETEST TRADE ON THE USDCHF!!Well, this pair has been trending to the upside, in fact it seems to have reversed direction into an uptrend but before that happens, a retest of the now broken 200SMA on the daily chart, has to happen before we can confirm an uptrend. Looking to take advantage of the existing opportunity as soon as the market breaks 0.92805 areas and closed below on the 1hr. The Fibonacci agrees with me, the technical side agrees since the market is in a resistance zone after an impulse. This could be a good Friday Trade.
Short
by joebakwa7
3
SOMETHING INTERESTING ON GBPCHF!!!!!!!This pair has been trending to the upside until something interesting happened. The market created a long wick to the upside on the weekly chart, and the market as we speak is heading up to fill the wick and retest the broken structure on the weekly chart to complete the impulse and correction pattern. This can be seen with the ascending wedge as you can see. As soon as the market fills the wick, we could possibly see the market break the wedge to the downside and head down to retest structure on the weekly. As soon as the market breaks the wedge on the 1hr, will be looking for sells. What are your thoughts on this pair?
Short
by joebakwa7
USDCHF SHORT TERM ENTRY!!!!This pair has been among the trendy pairs for the past weeks. The market has currently broken the resistance line to the upside with a nice impulse. but after an impulse there is always a correction to at least the 0.382 of the Fibonacci retracement. Currently the market is in a resistance zone (purple rectangle) and as soon as the market breaks the low of the previous candle, the market with be retesting the 0.382 of the Fibonacci to fill the previous wicks before a further continuation to the upside.
Short
by joebakwa7
2
GBPJPY IMPULSE OVER????The impulse to the upside on GBPJPY has been going on for some time and congrats to those that have been in the move. But as you know after and impulse there is always a correction to at least the 0.382 of the Fibonacci retracement which can ben seen on the weekly chart. Since the current bearish candle on the weekly has respected the high of the previous bullish candle, the market in the short run could be retesting the 0.382 on the fib which lines with previous structure. waiting for confirmation on the daily time frame to take a nice short on this pair. What are your thoughts on this pair?
Short
by joebakwa7
3
EURJPY: The price is BREAKING the TRIANGLE!Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis 📈 and Trading Tips 📉, support the idea hitting the LIKE 👍 button and don't forget to SUBSCRIBE ✔️ my channel, you won't miss anything ! 🟢 Forex Pair : EUR/JPY ⚪ Technical Analysis : On the 16th of February 2021, the price got a strong rejection on the level at about 128.460, and since that moment, it has been creating an interesting symmetrical triangle pattern, few rejections on its dynamic lines are a confirmation of the validity of this pattern. Also the EMA 200 is definitely working well, rejecting the price on every attempt to break through that. Moreover, in the daily perspective, the RSI with 20 period is slowly increasing its value. 🔴 Conclusion : The market is definitely bullish, the symmetrical triangle pattern could definitely be only a temporary consolidation before a trend continuation. I'm confident then, to see the price growing more breaking the pattern and reaching the resistance level at about 128.600/12.800. I'll be waiting for a bullish breakout of the triangle and the S/R zone at about 128.000 before planning my long position on this trade. Right now, my hypothetical entry point would the level 128.100, just above the dynamic resistance line; The take profit would be at the level at about 128.890, as projection of the pattern and weekly resistance around that level. The stop loss needs to be defined in a better way, I need to see the price action around the current level but at the moment, I placed it at the level at about 127.590, just below the main support and the last low created by the price. Stay tuned for Updates and Trading Signals ! What's your opinion? Share your idea writing a comment! ⚠️ Please note the views are not investment advice and should be used only for educational purposes ⚠️ Trade Safe and Responsibly , Gianni
Long
by FXtrades-gp
22