The price has just made a new bearish break in high temporalities, this may indicate that it wants to continue falling... this is why I can project a retreat to the marked levels to continue falling. Remember that it is always better to take 3 entries with adjusted Stop Loss and good risk management compared to 1 single entry and with stop loss giant. (1) Break...
1,36744 GBP/CHF buy > 1,34122 GBP/CHF still buying = 1,34121 GBP/CHF last Stop Lost Price < 1,34120 GBP/CHF neutral (new Analysis) = 1,41099 GBP/CHF 1. Target (this Summer 2016) = 1,46129 GBP/CHF 2. Target (this Summer 2016)
1,36744 GBP/CHF GBP/CHF buy > 1,34122 GBP/CHF GBP/CHF still buying = 1,34121 GBP/CHF GBP/CHF last Stop Lost Price < 1,34120 GBP/CHF GBP/CHF neutral (new Analysis) = 1,41099 GBP/CHF GBP/CHF 1. Target (this Summer 2016) = 1,46129 GBP/CHF GBP/CHF 2. Target (this Summer 2016)
This pair has just broke the trend line at 1.4200, will watch to see if this posts two bearish candle sticks in a row before entering a trade to ensure its not a false breakout. Will trade this down to TP1 if bearish movements proceed into next week.
Monthly and weekly show that prices are below cloud. Lagging Span on the weekly confirmed also the bearish trend. For me it's a SELL SELL SELL
Using 3 moving averages and plotting support and resistance can tell a lot about the "state" of price. We see our moving averages bullish from early July, peak in the middle of August and since then consolidate. There is an important long-term support/resistance line in the vicinity of 1.4650 which is where price lies now. The moving averages are now bearish,...