Get started

Gbpchfsell

Short GBPCHF Based on 4H + 1D Charts + FundamentalsFirstly: As a Londoner myself, it is deeply distressing to know of the recent terror attacks at London Bridge + Borough Market. My heart goes out to all those that have lost their lives to cowardly acts of terrorism that try to cause separation within our nation and everywhere around the world. Technicals: On the 10th of May 2017 price reached 1.30309 forming a double-top, which last touched on 6th of September 2016. 1D chart shows a strong downtrend, making lower highs since 11th of May. We have a major Support = Resistance at 1.21607 4H chart shows an EMA crossover whereby the 50ema crossed below the 200ema (Death Cross) pushing prices down further. More recently from 30th of May 2017 price has been ranging, yet continuing to make lower highs and lower lows as we see Bollinger bands constricting and gearing up to break out, more likely to the lower side again. Fundamentals: GBP has had a rough ride this year. Between David Cameron's resignation and the snap elections on 8th of June, we have seen great uncertainty. The recent rise in terror attacks across the UK has greatly affected tourism, something the UK economy does rely on heavily. Separate polls for the snap election are painting mixed pictures, causing fluctuations for major GBP pairs, however, I strongly believe Conservatives are losing seats with their new budget. The UK is looking towards Labour to lead the way once again and I expect this will cause a continuing decline for the near future. The Swiss Franc (CHF), a noted safe-haven currency, continues to get stronger. Rising geopolitical tensions between the US and Russia have seen the Swiss Franc making strong gains, benefitting from an increased demand for safe-haven assets. If the deadlock over the Syrian conflict continues then the Franc could remain on a bullish trend, in spite of the threat of market intervention from the Swiss National Bank (SNB). A 3.9 percent jump in exports in the three months through March helped push economic growth to 0.3 percent. While that fell short of the 0.5 percent forecast in a Bloomberg survey, it’s still the strongest performance in three-quarters. Place your stop at 1.25413 and we leave TP - We could reach 1.21607 however, there are a few support levels we must break through to get there and with the elections nearing closer, we must take this trade with caution. This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Short
by AEFX786
1
Great Britain Pound-Swiss Franc's decline continuation? Part IITwo days ago, we've seen the Great Britain Pound rise towards all of its pairs due to the decline of the Dollar... except from the Swiss Franc. After my re-analysis of this pair (see my previous analysis at my Link to Related Ideas), I've seen another trend line on play at daily. Despite the ongoing ascending trend line , there is still a trend line on 4-hour suggesting a downside trajectory. I will be holding my short trade and will see where this will go. For safety of others, I will be putting the Investment Strategy on Neutral.
by bearvsbullmarket
Is it time to short GBPCHF? Let's seeHey guys, we were waiting for a nice selling signal on this pair, and maybe this is happening. Price has reached another key level of daily structure and the RSI is in divergence on the daily as well as overbought on this timeframe. Moreover you can see price action has given the first signal of rejection with a pinbar (long wick to the top) that could be additionally confirmed by the current candle that could be engulfing. Stops above 1,31. First target with at least 1:1 RR, second to be determined. It all depends on the current candle close. I'll keep you updated. If you want to ask questions or share your view, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Is it crazy to short pound? Let's check price action!Hey guys, i know what you may think, probably after one day like this for the pound you wouldn't even consider a shorting possibility. However, patterns are always repeating, and our job, as techincal trader, is to find those patterns and keep trading them. So here on the daily timeframe on the GBPCHF you can see that the today's rally has brought price up to the completion point of the Gartley pattern and the AB=CD pattern. This level also lines up with a psychological number, and most likely after today's close we'll be in overbought condition. All the usual clues are there, the only part missing is a price action signal, that this time should be very strong; be careful when trading against the actual trend. I'm going to pay attion to 4hr and 1hr charts to find trading opportunities within as long as price is in the blue box. I'll keep you updated. If you want to share your view, or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Shorting pound is crazy? Let's check price action!Hey guys, i know what you may think, probably after one day like this for the pound you wouldn't even consider a shorting possibility. However, patterns are always repeating, and our job, as techincal trader, is to find those patterns and keep trading them. So here on the daily timeframe on the GBPCHF you can see that the today's rally has brought price up to the completion point of the Gartley pattern and the AB=CD pattern. This level also lines up with a psychological number, and most likely after today's close we'll be in overbought condition. All the usual clues are there, the only part missing is a price action signal, that this time should be very strong; be careful when trading against the actual trend. I'm going to pay attention to 4H and 1H chart in order to find a trading opportunity. I'll keep you updated. If you want to share your view, or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
Additional confirmations on GBPCHFHi guys, today i want to bring this analysis i've made on GBPCHF. As you can see we're in a daily structure zone (blue rectangle) and price is having some difficulties breaking through. Actually it's created a nice double top with RSI divergence (down on the bottom) right at this level, that's also lining up with the 618 retracement and a psychological number (1,2600). Also, there's a Bat pattern that's just completed and it's a good confimation of the sell signal. Stops would go above X, targets as in the picture above. If you want to share your view, or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
Lots of clues on GBPCHFHi guys, today i want to bring this analysis i've made on GBPCHF. As you can see we're in a daily structure zone (blue rectangle) and price is having some difficulties breaking through. Actually it's created a nice double top with RSI divergence (down on the bottom) right at this level, that's also lining up with the 618 retracement and a psychological number (1,2600). Also, there's a Bat pattern that's just completed and it's a good confimation of the sell signal. Stops would go above X, targets as in the picture above. If you want to share your view, or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
4
AB=CD completed right at Daily StructureHey guys, very simple trade, price has completed an AB=CD pattern on this pair, right at the most previous structure level. Also, it has created a nice long wick to the top candle that closed as engulfing, with RSI overbought condition in our support. Waiting for a little pullback in order to short the market and get at least a 1:1 RR on the first target that would be placed on the first AB=CD target (at the 382 retracement). Stops above the highest highs. Good trading! If you want to share your standpoint or ask questions, feel free to write below. Otherwise, see you in the next chart!
Short
by Roker1