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Gbpchfsell

Short Trading on GBPCHFHi guys, i've looking at this pair since we've reached the yellow zone highlighted on the left hand side of your screen. And i'm now getting involved because of the false breakout that you see on the right hand side of your screen. But let me be clear: first, we are at a major structure level on the daily timeframe, second, we've reached overbought condition on the daily timeframe and we're creating a divergence on both the daily and the 4hr tf. As we go down on lower timeframes, such as the hourly, you can also see a triple top with RSI overbought with a false breakout. As soon as the price has closed above the prev highs, it fell immediately and got rejected with a big red engulfing candle. Going short now with stop above the highs, and targets as displayed. If you have any idea/question, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
GBPCHF Testing Major Resistance, Time To SellGBPCHF is testing strong resistance presenting us with a good selling opportunity. Sell below 1.3466. Stop loss at 1.3527. Take profit at 1.3335. Reason for the trading strategy (technically): Price is testing major resistance at 1.3466 (Fibonacci retracement, horizontal swing high resistance, bearish harmonic formation) and a strong reaction could occur from this level to push prices down to major support at 1.3335 (Fibonacci retracement, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below 97% and a corresponding reaction could occur from this level.
Short
by MEX_Exchange
GBPCHF Is Testing Major Resistance, Time To SellGBPCHF is presenting us with a really good selling opportunity. Sell below 1.3434. Stop loss at 1.3522. Take profit at 1.3145. Reason for the trading strategy (technically): Price is testing major resistance at 1.3434 (Fibonacci extension, bearish harmonic formation) and a strong drop could occur from here to push prices all the way down to 1.3145 (Fibonacci retracement, horizontal pullback support). We have our stop loss at 1.3522 (Fibonacci extension, above major swing high resistance) to give our trade some breathing space. Stochastic (89,5,3) is seeing major resistance below 96% and a corresponding reaction could occur at this level.
Short
by MEX_Exchange
1
GBPCHF Is Testing Major Resistance, Time To SellGBPCHF is presenting us with a really good selling opportunity. Sell below 1.3434. Stop loss at 1.3522. Take profit at 1.3145. Reason for the trading strategy (technically): Price is testing major resistance at 1.3434 (Fibonacci extension, bearish harmonic formation) and a strong drop could occur from here to push prices all the way down to 1.3145 (Fibonacci retracement, horizontal pullback support). We have our stop loss at 1.3522 (Fibonacci extension, above major swing high resistance) to give our trade some breathing space. Stochastic (89,5,3) is seeing major resistance below 96% and a corresponding reaction could occur at this level.
Short
by MEX_Exchange
GBP/CHF 1D Chart: Heads towards 55-day SMAGBP/CHF 1D Chart: Heads towards 55-day SMA The British Pound is simultaneously fluctuating against the Swiss Franc in three different patterns. The largest ascending channel started to form a year ago and nowadays consists of three reaction highs and two reaction lows. The medium ascending channel represents a fragment of the dominant formation and is lying along the rising 55-, 100- and 200-day SMAs. Accordingly, the third ascending channel began to form within the secondary pattern. As the currency rate has recently made a rebound, the Sterling is expected to enter into the new depreciation phase. In this sense, combined support set up by the 55-day SMA as well as the bottom boundaries of two secondary might temporarily withhold the pair above the 1.30 mark. But eventually the new medium-term downtrend is expected to prevail.
by UnknownUnicorn890690
GBPCHFWith the release of the Rightmove House Price Index this morning showing falling house prices in the UK we still have no reason to be bullish on the Pound. GBPCHF has been in a strong downtrend of late, indicated by the lower lows and lower highs on our chart. We are looking at a very simple swing trading opportunity here by selling at the Weekly Central Pivot Point, IF an opportunity to enter a trade presents itself. If not, we will re-assess at the 61.8& Fibonacci retracement level.
Short
by Mase_00_7