GBPCHF Possible SHORTprice has pulled back nicely to the 618 fib area which is also a key resistance area.
It is also below the 50D EMA & the 100D EMA as added confluences
We also have a bearish continuation flag forming on the 1H TF as additional confluence
I expect a little bulllish movement (30-50 pips) before a rejection of resistance and a bearish movement to the downside to the region of 1.192 region
Gbpchfshort
GBPCHF H1 ANALYSISHello traders, we currently have a short setup for GBPCHF on the H1 timeframe. Price is respecting many confluence areas, allowing a good probability setup to go short. If you are in this trade, or if you are not in this trade let's discuss why and why not in the comments section below. I will be giving real time updates on my trades as it progresses. If you feel like you're learning, please give us a follow and like the post to help others like you also learn in the forex markets. Study hard!
*Disclaimer*: This trade analysis was conducted by myself and is by no means a trade signal. This trade analysis is based off my opinions and is by no means indicative of future price action.
GBPCHF SELL AFTER 1.2030HI, TRADERS
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GBPCHF Trend Reversal Pattern At Top.GBPCHF is Trading at the top also at the current price level it is forming the descending triangle pattern which indicates the trend might reverse from here. If GBPCHF breaks from the current price level we might see further downside in GBPCHF.
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GbpChf- bearish under 1.1940After breaking the rising wedge resistance, GbpChf is consolidating in a tight range (considering its volatility).
I still believe that a top is in place and the downtrend is about to resume and a daily close under 1.1940 would reinforce this view.
Potential target for short positions can be 1.15-1.16 zone
GBPCHF: SHORTIDENTIFY: Price is in the sellers territory and maintaining the downward trend
PLAN: So looking at going short, because of the daily bias. Another thing I am looking out for is the break of the support and probable retest.
TRADE: Place Sell Stop/Sell Limit order, anticipating a continuation to the downside after the pull back.
NB: Use risk management to determine the Stop Loss and Take Profit
GBPCHF - INTRADAY - 31. MAR. 2020Welcome to our weekly trade setup ( GBPCHF )!
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1 HOUR
Bearish market open and pressure.
4 HOUR
Prices broke 1.19000 and instantly started to pullback.
OVERALL
Break and close of psychological turning area done, freefall with pretty high chances now!
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FOREX INTRADAY
SELL GBPCHF
ENTRY LEVEL @ 1.18700
SL @ 1.19230
TP @ 1.17940
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN