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Gbpchflong

Brexit "optimism"I am not a huge fan of trading the sterling solely on technical analysis. Not with Brexit development causing price fluctuations from time to time. I always prefer (tho not exclusively necessary) trading any currency while having an objective picture (market sentiment) of the market involving the currency I want to buy or sell. I might be late to the party (buying sterling on Brexit optimism) I have a solid belief of what the mood of the market is regarding the sterling at the moment.. that is cautious optimism and not fully priced in. I am cautiously bullish on sterling just purely based on short term market sentiment. A price correction is anticipated however that weekly and monthly upside projection have been hit and exceeded. I will only look for business at the levels I have marked on the chart (looking for the bear trap). Risk event for sterling is CPI y/y number however I doubt it will cause a significant spike. Another risk for this plan are : a) Range have been exceeded, institutional profit taking is likely b) negative brexit news
Long
by sufiansaid
1
GBPCHF, Buy on H1**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade like i do, please write it in comment so we can manage the trade together. ___________________________________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
reading the right side of the chart : GBPCHF 25 SeptYesterday's trading range was 70-72 pips whilst the 20-day ADR was 102 pips. In a day when there was a risk event (political) and there was a stop hunt spike during the London session, it is indeed a bizarre day. After a "missed" day, I always anticipate a price expansion within 36 hours. I am still bullish on Sterling hence I am still waiting and looking for a low of the week anchor which I hope would form around these price levels 1.22700-1.22850. There is an ongoing risk for this plan which is Brexit Brexit Brexit. There is no risk event for Switzerland today.
by sufiansaid