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GBP-CHF

GBPCHF: An upcoming MARKET REVERSAL!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 : GBP/CHF ⚪ Technical Analysis : Since December 2020, the price has been following a strong bullish movement, bouncing and keeping the price over the main daily trendline. One week ago it reached an important weekly resistance zone, that rejected the price many times in the past and it has currently re-testing the same area. 🔴 Conclusion : Considering the daily and weekly time frame, the current level rejected the price many times and there is good chance to get another rejection. Aggressive traders would probably entry short soon, but I feel more conservative and I'll be waiting the breakout of the main trendline before planning my short position. 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
Short
by FXtrades-gp
12
GBPCHF - DAY TRADE VIEWGBPCHF - On hourly candles & chart it's approaching a stiff resistance zone , it should drag down Go sell here at 1.21200 Maintain stop loss around 1.21600 Potential downside target 1.20400 Trade as per your risk appetite, I will be glad to see your likes & comment. Why you should follow this tradingview account ? Managed by top most renowned trader - Pulak Priyesh 10 + years of trading experience Professional Day trader Excellence award winning mentor Professional chart, clear chart without junks. Major S/R levels with inner insights Frequent Day & Swing trade levels All major and minor FX/INDICES covered. Thanks
Short
by Professor_GS
💡Don't miss the great sell opportunity in GBPCHFTrading suggestion: ". There is still a possibility of temporary retracement to suggested resistance line (1.21360). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . GBPCHF is in a range bound and the beginning of downtrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 41. Take Profits: TP1= @ 1.20530 TP2= @ 1.19840 TP3= @ 1.19180 TP4= @ 1.18110 TP5= @ 1.16850 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_World
12
💡Don't miss the great sell opportunity in GBPCHFTrading suggestion: ". There is still a possibility of temporary retracement to suggested resistance line (1.21360). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . GBPCHF is in a range bound and the beginning of downtrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 41. Take Profits: TP1= @ 1.20530 TP2= @ 1.19840 TP3= @ 1.19180 TP4= @ 1.18110 TP5= @ 1.16850 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity
13
GBPCHF looking for a retracement 🦐GBPCHF after the attempt to break the 1.21750 level rertaced back. The market is now testing the trendline of the ascending channel and IF the price will break below we can look for a test of the 0.5 Fib level. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
22
📚 Learn More 💰 Earn More with us: Range-Bound Market📚 LEARN MORE 💰 EARN MORE With ForecastCity What is a Range-Bound Market? A range-bound market is one in which price bounces between a specific high price and a low price. The high price acts as a major resistance level in which price can’t seem to breakthrough. Likewise, the low price acts as a major support level in which price can’t seem to break as well. The market movement could be classified as horizontal, ranging , or sideways. A range-bound market is the opposite of a trending market. In a range-bound market, there is no clear direction. How to trade Range-Bound Market? 1- Trading Major Support and Resistance: Traders capitalize on range-bound trading by repeatedly buying at the major support level and selling at the major resistance level until the security breaks out from a price channel. The idea is that the price is more likely to rebound from these levels than break through them, which puts the risk-to-reward ratio in their favor, although it's important to always watch for a potential breakout . Technical indicators, such as the relative strength index (RSI), can be used to confirm overbought and oversold conditions when price oscillates within a trading range. For example , a trader could enter a long position when the price is trading at major support and the RSI gives an oversold reading below 30. Alternatively, the trader may decide to open a short position when the RSI moves into overbought territory above 70. Most traders place stop-loss points just below the major support level and above the major resistance level to mitigate the risk of heavy losses from a high volume breakout. 2- Trading Breakouts: Traders can enter in the direction of a breakout from a trading range. To confirm the move is valid, traders should use other indicators, such as volume and price action . For instance, there should be a significant increase in volume on the initial breakout , as well as several closes outside the trading range. Instead of chasing the price, traders may want to wait for a retracement before entering a trade. For example , a buy limit order could be placed just above the top of the trading range, which now acts as a support level. A stop-loss order could sit at the opposite side of the trading range to protect against a failed breakout. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Education
by ForecastCity_World
10
📚 Learn More 💰 Earn More with us: Range-Bound Market📚 LEARN MORE 💰 EARN MORE With ForecastCity What is a Range-Bound Market? A range-bound market is one in which price bounces between a specific high price and a low price. The high price acts as a major resistance level in which price can’t seem to breakthrough. Likewise, the low price acts as a major support level in which price can’t seem to break as well. The market movement could be classified as horizontal, ranging , or sideways. A range-bound market is the opposite of a trending market. In a range-bound market, there is no clear direction. How to trade Range-Bound Market? 1- Trading Major Support and Resistance: Traders capitalize on range-bound trading by repeatedly buying at the major support level and selling at the major resistance level until the security breaks out from a price channel. The idea is that the price is more likely to rebound from these levels than break through them, which puts the risk-to-reward ratio in their favor, although it's important to always watch for a potential breakout . Technical indicators, such as the relative strength index (RSI), can be used to confirm overbought and oversold conditions when price oscillates within a trading range. For example , a trader could enter a long position when the price is trading at major support and the RSI gives an oversold reading below 30. Alternatively, the trader may decide to open a short position when the RSI moves into overbought territory above 70. Most traders place stop-loss points just below the major support level and above the major resistance level to mitigate the risk of heavy losses from a high volume breakout. 2- Trading Breakouts: Traders can enter in the direction of a breakout from a trading range. To confirm the move is valid, traders should use other indicators, such as volume and price action . For instance, there should be a significant increase in volume on the initial breakout , as well as several closes outside the trading range. Instead of chasing the price, traders may want to wait for a retracement before entering a trade. For example , a buy limit order could be placed just above the top of the trading range, which now acts as a support level. A stop-loss order could sit at the opposite side of the trading range to protect against a failed breakout. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Editors' picks
by ForecastCity
14
GBPCHF on a bull flag 🦐GBPCHF on the 4hchart after the last impulse, retraced inside a flag until the 0.5 fib level. According to Plancton's strategy, when the price will break the upper trendline, we can set a nice long order. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
4
GBPCHF inside a key range, let's wait for the breakoutToday we will take a look at the Daily chart on GBPCHF. -The main structure we have is the expanding descending channel -Inside the channel, we can see a range formed by the support zone at 1.16000 and the resistance zone at 1.22000 -Technical theory tells us that the expected movement after a breakout of a range is the extension of it. We can see that the extension provides a target that converges with the higher trendline of the descending channel -If we have a breakout, we can expect to see a corrective structure with similar proportions to the one that happened before (yellow arrow) before the big bullish movement -This is an interesting Forex Pair to keep an eye on due to the bullish potential it can provide if we have a breakout!
Long
by ThinkingAntsOk
1
GBPCHF on a bullish move 🦐GBPCHF after the double top formation move again to the upside and broke the previous resistance now turned support around 1.21100 level. The market already retested and according to Plancton's strategy, if the conditions will be satisfied, we can set a nice long order. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
26
GBPCHF testing a dynamic trendline 🦐GBPCHF after creating a double top at the 1.21 level is moving to a support trendline. IF the price will break below according to Plancotn's strategy we can set a nice short order. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
10