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GBPCHF Long 300 Pips!Hello Traders, Here we have a GBPCHF long trade idea. If you like this idea please show your support! GBP This trade idea is based off the fact that the Pound (GBP) is reaching a weekly low since the end of September 2021. We are expecting some strength as this is approaching a structure level & this will give us a double bottom reversal pattern indicating we are expecting a possible reversal which we do not want to miss! This GBP weakness can be seen across other GBP pairs, for example GBPUSD below : In the chart above you can see a very long wick in the candle indicating less seller and more buyers in the market, this is key indication of a potential reversal as we can see a lot of weakness in the trend and price is struggling to push down any further. This may be another pair you want to consider taking a look at as this also has a very similar potential to GBPCHF. CHF Swiss Franc (CHF) weakness can be seen as price is hitting resistance in its bull run and we can see much weakness across many CHF pairs, for example my previous USDCHF trade idea I shared last week has made progression, but the price as returned to the entry point due to slight CHF strength however this gives us this opportunity to enter in this other pair. If you want to improve your trading, do not hesitate to send me a message! Please trade with caution and make sure you set your stop losses! Happy Trading 😁 Be sure to check out my other ideas below!
Long
by Pips-Collector
9
USD/CHF Ready to Bounce? Eyes on January TrendlineUSD/CHF has been in a near-term downtrend since late September, now finding itself on a rising support range from the beginning of this year. A bounce off the trendline could pave the way for a push higher back towards a long-term falling resistance line from April 2019. Still, a bearish Death Cross seems imminent between the 20- and 50-period Simple Moving Averages. These could hold as key resistance in the event of a bounce from here. Breaking under the rising trendline from January exposes the 0.9019 - 0.9038 support zone, consisting of August lows. Below that sits the 0.8926 - 0.8952 zone, which is made up of May and June lows. FX_IDC:USDCHF
by QM_Dubrovsky
USDCHF Might aim for S1 Monthly PIVOT shall the Trendline break!USDCHF might aim for S1 monthly support shall the ascending trendline break. For this criteria to meet, we need to see the daily candle pierce both the trendline and D EMA in the process. After this what is required is to assess the RR for this trade, if feasible we can enter a SHORT to target the S1 monthly pivot. The S1 Monthly pivot is also present in the same area with another ascending trendline. Due to this, i strongly feel that the price might go down until those level. Shall there be any updates i will update the entry criteria below in this thread
Short
by FX618Analysis
USD/CHF Falling Wedge Breakout Nears Target, Trend to Continue?USD/CHF broke above a bullish Falling Wedge chart pattern, extending gains towards the target of the breakout. This follows broad US Dollar gains in the aftermath of the Fed rate decision. Learn more about Falling Wedges via DailyFX.com here - www.dailyfx.com A bullish crossover between the 20- and 50-period Simple Moving Averages offers a near-term upward bias. The pair is eyeing the midpoint of the Fibonacci retracement at 0.9196. Clearing the latter exposes the 61.8% point at 0.9262 as the pair aims to reverse the downtrend from April and May. In the event of a turn lower, keep a close eye on the 20-period SMA which could come in as key support. FX_IDC:USDCHF
by QM_Dubrovsky
USDCHF | LONG-Values- Entry Range: 0.89896 - 0.88857 Average Entry: 0.89164 (RRR: 1.91) Stop Loss: 0.87765 Profit Target: 0.91860 -HOW TO ENTER MY TRADES- 1. Ladder your entries. You'll want to ladder place your orders exponentially within the Entry Range to the point your RRR is atleast 1.5 if fully filled. 2. Only first touches are valid. If price is rebounding back into the entry zone after either the profit target or stop loss was hit the entry zone is no longer valid. Example: Trade Idea: Valid and Invalid Entry:
Long
by Event0011