Gbpchfshort
GBPCHF MORE BLOOD TO COME• Price broke out of its bigger channel – 90% chance of it coming all the way to the downside
• Bearish impulsive move and a correction – next impulse is likely to bearish
• Correctly in corrective state which creates a bearish flag (a small channel)
• Price is at the top of the smaller channel
Tue 21st Sep 2021 GBPCHF Daily Forex Chart Sell SetupThis is a tough and you can see my notes on the chart. It is very range bound and price is right at the MAs. If you didn't take it, then that would be quite understandable. I'm actually standing aside on a sell on the GBP/JPY as it is. If you do take the sell, just watch your risk, and if you can, I'd be leaving that partial buy trade on with the stop inside the entry. Cheers.
GBPCHFlast day's price was strongly moving up and already touching the strong daily resistance area, there's no break the resistance and I assume it will bounce back and broke the uptrend structure, for the uptrend maybe the price will strongly break the resistance area. remember always waiting for breakout + retest + confirmation + money management + psychology. GOOD LUCK
TWO REASONS TO SELL GBPCHFTWO REASONS TO SELL GBPCHF
1. Price hit the daily resistance level
2. Formation of the rising wedge on 4H
To short with confirmation and confidence wait for the breakout of the wedge and sell on a retest.
Once the price breaks to the upside then we will look for another setup.
What is your idea on GBPCHF? Bullish or Bearish?
GBPCHF ANALYSISGBPCHF is once again testing the resitance of 1.2800, this uptrend has been going for quie a while and its approaching the resistance. If we do close below we can look for opportunities of breaking this uptrend and starting a move to the downside and testing the support at 1.2600, If however we close above the resistance we can look for opportunities of testing the resistance at 1.295. As always be reactive of the market and enter as the market decides where he wants to take the pair.
GBPCHF Bearish Idea A few weeks ago I shared a bullish analysis on this pair, we observed strong bullish moves afterwards!
Today I'd like to share a bearish analysis on the same pair, even though there's a great analysis price pushing even higher but we still have a chance for bearish moves as well!
Any bearish pattern on the lower timeframe (H1 & H4) will be a clear indication for southward movement on this pair!