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Gbpchflong

Pound to end the weakness? - GBP/CHF Ichimoku Long Trade SetupThis is a second entry on a previous trade setup that we took a look at. We're already running in profit from the previous trade setup, but we've gotten a bullish TK cross and I'm watching for the pound to try and push higher. We have been consolidating a little bit here but especially if we can break up and above the first target line for the new trade, we should be able to get a big rise. We can try to entry right at market open or wait for an actual touch on tenkan sen for a confirmed buy entry. If we fail to hold support or climb higher, then this setup may become invalidated.
Long
by The808Trader
GBPCHF long long longThe pair is getting ready for an explosive move imo. After entering oversold territory and bouncing back the pair has been meeting resistance at around 1.194 area as expected. It did try to move lower but it failed to do so, we can see the last daily candlestick is a pinbar and the day before it also failed to move lower. If it breaks the resistance the pair can move up all the way to the next horizontal resistance at 1.224. Bear in mind that we will face some resistance at the MA50. 4H chart becomes interesting : We see a very clear inverse H&S formation, you can also say it is a cup and handle formation or simply that after a strong move upwards after meeting support the pair has slowdown a little bit before making the next move up. It doesnt matter how we call it, the important thing is that if the pair breaks the previous highs (black line) it has the potential to move quick. Trade safe!
Long
by MicKi
Pound Power? - GBP/CHF Ichimoku Long trade This pair got a nice rise at the end of last week, breaking through the kumo before eventually falling back down. We are now approaching tenkan sen in the kumo and I am watching to see if it will act as support for another kumo breakout. If we can get that breakout I've set my entry level at previous price structure resistance I want to see broken to help confirm my long bias. If we can break it, we should be able to climb higher and I've drawn out several partial take profit levels on the way to my overall swing target. If support doesn't hold or we can't break through the previous price resistance, this setup may become invalidated.
Long
by The808Trader
4
GBPCHF clear Long setupWe can see lots of confluence for a rebound on this pair : 1) Price rejected a strong horizontal support 4 times 2) Last trading day the pair printed a Doji (reversal pattern) 3) Huge RSI divergence But we can also see that the price might be capped a bit by a couple factors : 1) Descending trendline 2) MA50 If the descending trendline is broken we can see a jump at least until the MA50 which is still far from our price so that gives us a lot of room to trade. The next horizontal resistance is not to be found until the 1.266 area. Lets look at the 4H chart: First thing: We see how the price found support and it is now consolidating. Also we see the RSI divergence (price falling, RSI gaining strength) Once the price breaks out of this area it will face resistance by MA50 and descending trendline. It might directly break it as it was already tested on the 19th of July or it might do a bit what the red arrows represent. I think it is a bit early to go long in this pair but I will be monitoring it closely. Trade safe!
Long
by MicKi