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Swissfranc

GBPCHF Sell signal: Lower High and 1D MA200 rejectionGBPCHF has been trading within a Bearish Megaphone pattern almost since the start of 2021. At the moment it is trading sideways for more than a week in a row but even though it has tested the 1D MA200 (orange trend-line) on multiple occasions, it has failed to close a 1D candle above it and make a bullish break-out. On top of that, the 1D MA200 rejection, is also a Double Top rejection on the 1.26125 Resistance level. Also the 1D RSI is on Lower Highs, which that was the formation on the pairs last rejection at the top of the Megaphone on October 20 2021. The result of that Lower High top was a price dive to the 1.5 - 1.618 Fibonacci extension levels once the 0.5 level broke. At the moment the 0.5 Fib level is at 1.24455. If that breaks, I will take it as a sell signal with a 1.21000 target (within the 1.5 - 1.618 Fib extension zone). -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Short
by TradingShot
✅CAD_CHF WAIT FOR BREAKOUT|SHORT🔥 ✅CAD_CHF is trading in a wedge Between a falling resistance and a rising support And there is no real incline to the wedge So the breakout that determines further direction of the pair Might be either bearish or bullish with equal probability However, I am somewhat bearish biased Thus I am presenting you with the bearish scenario But either way, we need to wait for the breakout To then follow the decision of the market SHORT🔥 ✅Like and subscribe to never miss a new idea!✅
Short
by ProSignalsFx
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