Gbpshort
LongTerm and ShortTerm Analysis of GBPCHF,
This monthly chart is a possible bullish bias I have for GBPCHF over the long term. A bullish upmove to my 382 @1.76048.
You can see that here:
What is my fundamental reason for this? My theory is that if the vote for new british leader is lost by Boris Johnson, then the Pound is bullish.
Now if this fails, odds are the pound will continue bearish, but if the Pound is currently bearish I have an alternative below:
If price manages to break 1.2938 then bullish bias is confirmed for buys all the way to 1.34
But if price is BEARISH:
Assuming Pound breaks 1.269 then confirmed down trend to my short term 382 and 618 take profits, 1.26158 and 1.24445 respectively.
GBPCHF planAnalisa Teknikal masih mencadangkan saya untuk Bearish kesemua GBP pairs. Risiko besar bias ini adalah perkembangan terkini Brexit & suasana politik di United Kingdom. Berdasarkan data-data yang lepas, market seolah-olah "react" jika news tersebut berupakan news yang tidak baik bagi No Deal Brexit ataupun apa sahaja yang kena mengena dengan Boris Johnson.
My technical analysis suggest that I should be bearish the Pound Sterling. The risk for this bias is any development of Brexit that usually led to Sterling to be bid. i.e No Deal Brexit, any bad things happen to Boris Johnson
Price action yesterday was exactly what I wanted. Since I am bearish GBPCHF, i was looking for a bull trap at the levels that I have marked today on the chart. P2 bearish had been activated, I am still waiting for a bearish trigger signal and/or another test on the upside, preferably breaking yesterday's high.
The daily range yesterday exceeded the 20-day ADR upside projection hence I am anticipating a more subdued price action today. Just anticipation. I love volatility, I wish there is one every day.