Forexmentor
WHY I AM GOING SHORT ON GBPCHFI have been watching gbpchf for a while now, going in depth to the technical analysis , you will notice that a very strong trend line on the daily candle has been broken, after giving us a reversal head/ shoulder pattern inline with my monthly support region. This rejection and reversal pattern here tells me there is bound to be a reversal, looking at the daily candle, you will see a bearish marubozu candle after it breaks below the daily trendline, we will now step to the lower timeframe in search of our entry point using the ema, candles stick formation for confirmation. Join my private group to know how to make this entries using the ema i use and also how to properly analyse any market and make good profit out of it, also join my free telegram channel via the link below t.me
GBPUSD ABC patternThe GBPUSD looks to be completing an ABC pattern . At around 1.283 we have the AB=CD level where we are expecting to see some signs of supply entering the market. If prices break and close strongly above 1.283 we will be looking towards 1.300 zone which represents the 1.27 AB=CD.
Expecting the market to wave upwards so as long as prices remain above 1.2400 , we will be looking for buy signals on pull backs until we arrive at the 1.277-1.283 zone.