GBPCHF LONG - Buy Entry - D1 ChartGBPCHF LONG - Buy Entry - D1 Chart
Buy @ Market
Symbol: GBPCHF
Timeframe: D1
Type: BUY
Entry Price: Buy @ Market
TP - Resistance @ 1.25572
TP - Resistance @ 1.24913
PP Y1 - Pivot Point Yearly @ 1.2441
TP - BE - Resistance @ 1.23709
D1 Support @ 1.21942
W1 Support @ 1.21266
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Gbpchfbuy
GBPCHF BUYOverall bullish bias on the 4H chart. A retracement on the 1H touching the fib 61.8 level which coincides with newly formed support. The retracement formed as an exhaustion pattern and left a huge imbalance that should be filled prior to big moves. If the market opens with no big gaps, my plan is to enter a long position with the stop loss of 1.25123 and the take profit to be 1.25875.
One more push down before breakout?Hi Traders,
Price is moving correctively towards the top of this HTF bullish continuation structure which we may get one more push down before we breakout and continue to rise.
Wait for an impulse rejection followed by a correction to validate this short.
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GBP/CHF SHORT SELL LONG BUY..
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your strategy are satisfied.
Dear Traders,
If you like this idea, do not forget to support with a like and follow.
PLZ! LIKE COMMAND AND SUBSCRIBE
GBPCHF Long (Mean Reversion) with 3X Potential Reason
List of Reasons for potential pull back/mean reversion:
1: The market is over extended and has been moving bearish for almost 3 weeks straight with no pull back. This is more visible on the weekly chart than on the daily chart.
2: The trendline on the daily chart was broken with no retest.
3: Month Support level was broken with no retest around the 1.25*** area
Summary:
The trade has the potential to be a 4:1 RR or more abut this will depend on how deep the pull back is. Targets are set using fib tool. We also have to wait for the market to change from bearish to bull which will be visible on the H4 and Daily chart.
Once the market turn bullish, we will then be able to determine the correct RR of the trade. The trade will be left to run until the target is reached or between 5 to 10 trading days, whichever comes first.
Those who plan to sell the market in its current state must be very careful as smart money might close short some positions on the pair, forcing price to turn bullish, allowing them grab some liquidity.
GBPCHF - Watch This Fly! 🔥GBPCHF has approached a level that we have been waiting for. Everything is lining up for a really nice long term swing position to push it up more than a 1000pips.
We have the 50 fib, major trendline support, descending correction support.
Trade idea:
Watch for a clear bounce and then enter with stops below the major trendline.
First target (channel resistance): 300pips
Second target (recent highs): 680pips
Third target (-0.27 fibonacci target): 1,000pips
Goodluck and trade safe!