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Gbpchflong

GBPCHF. Turning Up now. Buy the breakout. Trading Criteria: Regardless which way you want to trade, look for minimum five 4hr. candles in consolidation zones (yellow border boxes), or five daily candles for solid yellow boxes. If you're a pattern trader or pinbar trader, this might be useful here. Wait for the breakout of the 4hr. consolidation or daily consolidation from red border boxes to take the trade. Red border boxes are the High/Low of a consolidation period inside the consolidation zone. I usually aim for 80% of the weekly ATR (or monthly ATR for yellow solid boxes) taking profit but not always at the next yellow box. I place my stop loss above/below red border box. *These zones, with the inclusion of price action described above, have remarkable accuracy. Yellow border box: weekly consolidation zone Yellow solid box: monthly consolidation zone Red border box: High/Low breakout box (5 minimum candles) Grey solid box: monthly grid block
Long
by ComteSt.Germain
GBPCHF LongNote -GBPCHF showing signs of reversal after intraday rejection of lower price (long daily wick) by forming a reversal candlestick pattern (Pinbar/Spinning top/Indecision) AT SUPPORT -GBPCHF at trendline support -GBPCHF showing bullish divergence on 4H time frame -Stochastic severely oversold at support Entry -Keep enough distance above the high of the reversal daily candle to confirm a transition of power from bears to bulls Stop -Below the low of the daily reversal candle Target -2 times stop Risk Management -Risk 1% to 2% of capital -Ratio: 2:1
Long
by Mankz
GBPCHF approaching support, potential bounce! GBPCHF is approaching our first support at 1.2753 (Horizontal swing low support, 61.8% fibonacci retracement, 61.8% fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 1.2953 (Horizontal pullback resistance, 50% fibonacci retracement, 100% fibonacci extension). Stochastic (55,5,3) is also approaching support and we might see a corresponding bounce 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.
Long
by Tickmill
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
Short
by Tickmill
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.
Long
by easyMarkets
6
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.
Long
by Tickmill
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!
Long
by StirlingBishop
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.
Long
by easyMarkets