Gbpchflong
GBP/CHF long term trendline broken! Weekly chart!Hello my beauties.
I'm taking a look at GBP/CHF, and it seems like a very long term trendline as been broken. The downtrend has also significantly decreased in intensity and impulsivity in the past few years.
Since it seems like a very interesting area, we'll be attempting to analyse the pair from a Wyckoff perspective on a Daily/4hrs chart, and see where this leads us.
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Peace.
Luca, TrickleDownFX
GBPCHF Long C Grade (Idea)GCHF is the second trade today on my watchlist that presented an entry at 9:15 CAT, this is proving to be an ideal time for A1s. This trade moved 1.94R, almost 2R, but it still wasn't worth taking according to my plan, as it has 2 knocks against it that I don't trade. These being an over extended candle and being inside the Asian Range. Through backtesting these have been proven to increase the loss rate when traded. Following the plan every day.
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 - Perhaps another 1st of month long will play out???The daily uptrend is pretty well established and price broke above a pretty clean resistance area and then tested the trend line with good rejection. Price broke the prev daily high and closed above the last down candles EQ (50% rea) with what appears to be possible buying Risk is 1%
GBPCHFHello Friends, As we can see price is moving inside parallel Ascending channel . Approaching on strong Channel support area . I am Expecting once again long opportunity but we need to see some confirmations. On lower time frame I will Wait for bullish price actions as well as counter line breakout.
GBPCHF TO CONTINUE BULLISHWith the current momentum of this market, we are safe to say that there are bullish sides to this pair.
We could see a pullback before this uptrend continues. The level of 1.27000 is keen to our eyes as we'll watch how price reacts to this level.
Targets would be a new high along this trend. Trade the trend with us. Trade Safe.
retracement neededPound had gone through hell today and now on the way back for a revisit before heading back, DXY has started its correction giving way for its counter pairs a breath (hopefully).
The D chart RSI is near the edge of oversold, lower TF are all oversold, so there's a high chance that it has bottomed for now at 1.25334.
TP: Fib based, not to be greedy as Pound seems very weak
SL: below the lower edge of downtrend channel formed since 8th, July.
Trailing from 1.258 is recommended.