ABC WXY Correction | Flag Pattern Continuation The ABC WXY correction has structurally been complete
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Awaiting a stop hunt of yesterdays low for entry
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Although the flag pattern indicates a further long, Take Profit is around the 1.312 area
Gbpchflong
GBPCHF approaching resistance, potential drop! GBPCHF is approaching our first resistance at 1.2954 (Horizontal pullback resistance, 23.6% fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 1.2819 (100% fibonacci extension).
RSI (89) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
GBPCHF approaching support, potential bounce!GBPCHF is approaching our first support at 1.2942 (horizontal swing low support, 23.6% Fibonacci retracement, 61.8% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 1.3090 (horizontal swing high resistance, 100% Fibonacci extension, 78.6% Fibonacci retracement).
RSI (89) is also bouncing off support and we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
GBPCHF approaching support, potential bounce! GBPCHF is approaching our first support at 1.2865 (horizontal swing low support, 38.2% Fibonacci retracement, 100% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 1.3090 (horizontal overlap resistance, 78.6% Fibonacci retracement).
RSI (89) is approaching support and we might see a corresponding rise in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
GBPCHF - LONG trade set-upsI opened a long position on this pairing at 1.2516 - currently waiting to see if the trend will make one last move downwards respecting the descending trend-line marked (A), or if it has already reversed and will continue to rise towards the next major resistance line at 1.307. Stops have been moved to account for the upcoming potential movements.
If it makes one last move downwards - I will buy as close to 1.25. On the other hand if this is a reversal - I will wait for it to re-test a black line of support and open a position.
Although the Brexit process has not gone well, we can at least be grateful that the complete failure of the UK government has provided us with an opportunity to enter long positions. Let's take advantage of this uncertainty and catch these bargains.
This is not investment advice - I am simply posting these ideas for my future self to reflect upon and learn to be a better trader. Trade smart and be careful. Good luck!
GBPCHF approaching support, potential bounce! GBPCHF is approaching our first support at 1.2894 (horizontal swing low support, 100% Fibonacci extension, 23.6% Fibonacci retracement, ascending channel support) and a strong bounce might occur above this level pushing price up to our major resistance at 1.30909 (horizontal overlap resistance, 78.6% Fibonacci retracement).
Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias. RSI (89) is also approaching our ascending support lien and a bounce above this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
GBPCHF LongRiding the recent bullish momentum on GBP after Ireland declared support to Theresa May's Brexit plan. Buying with TP near 1.30 (68.2 fib level) and SL @1.28651 (previous period 68.2 fib level).
www.express.co.uk
Daily:
Weekly:
Confidence: B (more likelihood of reversal because of strong downtrend on higher time frame -- aka I might have gotten too excited and entered early. Best to wait and enter by next week, but oh well..)
GBPCHF LONG OPPORTUNITY The bearish daily trendline has finally been broken and re-tested.
This pair has found clear support and is off to the races.
I have placed my stop behind a clear demand zone.
Looking for a push higher to the next clear resistance area which stops just after 50% retracement.
GBPCHF Weekly Break tot he upside? GBPCHF may find a reasonable run to the upside going in to October.
GBPCHF approaching resistance, potential drop! GBPCHF is approaching our first resistance at 1.2798 (horizontal swing high resistance, 61.8% Fibonacci extension, 23.6% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 1.2630 (horizontal swing low support, 50% Fibonacci retracement).
Stochastic (55,5,3) is also approaching our major resistance and seeing a bearish divergence where a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
GBPCHF - Long - AnalysisPrice presented a bullish engulfing on the daily chart, made higher high and higher low. Waiting for the price to break the consolidation to go long!
GBPCHF / 1H / DESCENDING TRIANGLEMove your SL to breakeven after hitting TP1 and consider locking in some profits.
GBPCHF LongGBPCHF reaching structural support on the weekly timeframe. A strong impulsive move signalls a turn to the upside. Price is currently consolidating and a TCP is forming on the lower timeframes. Enter as appropriate. When price breaks the long term trendline, wait for consolidation before entering.
This is not financial advice and is merely my opinion. Trade responsibly.
GBP/CHF - 100+ Pips Bullish OpportunityGBP/CHF has broken the 50 EMA on the 4H chart and is currently finding support on top of it.
We can wait a bit more for the confirmation of the up move and enter in the move.
Trade safe.
GBPCHF approaching resistance, potential drop!GBPCCHF is approaching our first resistance at 1.2863 (horizontal overlap resistance, 61.8% Fibonacci extension, 23.6% Fibonacci retracement, descending channel resistance) and a strong drop might occur below this level pushing price down to our major support at 1.2283 (61.8% Fibonacci extension, horizontal swing low support, 76.4% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
GBPCHF approaching resistance, potential drop! GBPCHF is approaching our first resistance at 1.2853 (horizontal overlap resistance, 61.8% Fibonacci extension, 23.6%, Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 1.2283 (horizontal swing low support, 61.8% Fibonacci extension, 76.4% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
GBP/CHF long opportunity GBP/CHF has edged lower from 5-week highs at 1.2742, bias bullish.
The pound remains buoyed ahead of UK labor market report.
Upbeat growth in the UK’s wages could further the ongoing bullish momentum seen around the pound.
Technical indicators are turning bullish on the intraday charts. Stochs and RSI have rolled over from oversold levels.
The pair has broken above 21-EMA and is poised for further upside.
Support levels - 1.2645 (21-EMA), 1.2592 (5-DMA), 1.25
Resistance levels - 1.2788 (23.6% Fib), 1.2848 (50-DMA), 1.30 (38.2% Fib/)
Good to go long on dips, SL: 1.2590, TP: 1.2785/ 1.2850/ 1.30
GBPCHF approaching support, potential bounce! GBPCHF is approaching our first support at 1.2590 (horizontal overlap support, 61.8% Fibonacci extension, 50% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1.2650 (horizontal overlap resistance, 100% Fibonacci extension).
Stochastics (55,5,3) is also approaching our support and a strong bounce above this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
GBPCHF testing resistance, potential drop! GBPCHF is approaching our first resistance at 1.2655 (horizontal overlap resistance, 61.8% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur below this level pushing price down to our major support at 1.2612 (horizontal swing low support, 38.2% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (89,5,3) is also testing our resistance and a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
GBP/CHF - Bullish Sequence - CorrectionI was selling the GBP/CHF from the tops (see related ideas).
Now I am buying the correction.
GBP/CHF - BUY Position
Entry @ Market Price (approx. 1.2610)
SL @ 1.2500
TP @ 1.2800 / 1.3000 / 1.3200 / 1.3300
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GBP/CHF - Ichimoku trade ideaFor this pair i'm looking to get in and out of a small run, with the option to expand my take profit levels if this pair pushes higher and holds. Until a move like that happens and is proven, I'll look to get in and out of the market. I'm looking to enter on a breakout of the 1.2698 level. I'm keeping my stop loss pretty short if I enter so keep a good risk to reward and also because if we don't get a push up after the entry I'm waiting for, I'll want to exit pretty quick. If our bullish signs change or we fail to break higher, this setup may become invalidated.
