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Gbpchfshort

GBPCHF: The price Back to ITS TRENDLINEHi traders and welcome to my channel, if you enjoy my FREE Technical Analysis 📈 and Trading Tips 📉, support the idea hitting the LIKE 👍 button and don't forget to SUBSCRIBE ✔️ my channel, you won't miss anything ! 🟢 Forex Pair : GBP/CHF ⚪ Technical Analysis : Since the end of January 2021, the price has been following an interesting uptrend following its main trendline. On the 12th of February, a strong bullish impulse on the trendline, moved the price up breaking through the S/R zone at about 1.23700, reaching a strong weekly area at about 1.25500. The price is currently re-testing the same level and considering that this level rejected the price many times in the past, there is a possibility to see a clear bearish retracement. 🔴 Conclusion : The price has been moving with a strong uptrend since the end of December 2020, and now that it reached a really strong S/R zone, I'm confident to see an upcoming market reversal. I'll be waiting for a proper rejection on the current level before planning my short position on this trade and my target would be the next support zone or any point on the trendline at about the 0.50% of Fibonacci retracement. Stay tuned for Updates and Trading Signals ! What's your opinion? Share your idea writing a comment! ⚠️ Please note the views are not investment advice and should be used only for educational purposes ⚠️ Trade Safe and Responsibly , Gianni
Short
by FXtrades-gp
38
GBPCHF 161.8% Rejection...BEARISH Outlook!!!Last Friday's candle showed us a clean rejection off the 161.8% fib level. However, we have yet to see any form of confirming candle. Today's candle is a neutral candle for us as we managed to see a lower opening but BULLISH movement today. Although there is not much confirmation on this pair, I will be eyeing on a fakeout from 1.2323 resistance level. Today's neutral candle might also signifies that a fakeout is valid as we did not managed to see a clear breakout to the upside. As of now, I am leaning towards a BEARISH retracement for this pair. Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Short
by YGForex
3
GBPCHF: The price is going back to its MAIN TRENDLINEHi traders and welcome to my channel, if you enjoy my FREE Technical Analysis 📈 and Trading Tips 📉, support the idea hitting the LIKE 👍 button and don't forget to SUBSCRIBE ✔️ my channel, you won't miss anything ! 🟢 Forex Pair : GBP/CHF ⚪ Technical Analysis : Since the 10th of January 2021, the price has been moving following an interesting trendline, bouncing on it many times. Once it reached the S/R zone at about 1.21700, it got several rejections on that level, finally breaking through it on the 29th of January. It re-tested few times a strong weekly resistance zone at about 1.22800, creating every time a higher low. It is currently re-testing the same level and the next price action around this zone will be essential to understand the next market movement. 🔴 Conclusion : The price seems to be not really strong enough to break through the current resistance zone and considering that the level 1.22800 rejected the price many times in the past and few pinbars in the daily perspective, I'm confident to see it collapsing down until its main trend line and eventually the next support zone at about 1.21700 Stay tuned for Updates and Trading Signals ! What's your opinion? Share your idea writing a comment! ⚠️ Please note the views are not investment advice and should be used only for educational purposes ⚠️ Trade Safe and Responsibly , Gianni
Short
by FXtrades-gp
12
Pending short GBPCHF 21 Jan, 2021This pair has found it difficult to overcome the resistance zone located between 1.2220 and 1.2140 since March 2020 and it is stalling here again. Since that time, we have a range and I expect price to start moving down again soon, even though GBP is strong ATM. I used the H8 chart (not shown) to locate my entry at 1.21400, if indeed price moves down. I am using the round number 1.200 as my initial target. That level has been active in the recent past too. With a 2.3R this target meets the criteria for a viable trade, while a move down to the 1.750 region is not impossible either. If you like my analysis please give it a “thumbs up” and follow me to get immediate notifications. As always, please use sound money and risk management in all your trades.
Short
by Trading_Vista
GBPCHF: An upcoming MARKET REVERSAL!Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis 📈 and Trading Tips 📉, support the idea hitting the LIKE 👍 button and don't forget to SUBSCRIBE ✔️ my channel, you won't miss anything ! 🟢 Forex Pair : GBP/CHF ⚪ Technical Analysis : Since December 2020, the price has been following a strong bullish movement, bouncing and keeping the price over the main daily trendline. One week ago it reached an important weekly resistance zone, that rejected the price many times in the past and it has currently re-testing the same area. 🔴 Conclusion : Considering the daily and weekly time frame, the current level rejected the price many times and there is good chance to get another rejection. Aggressive traders would probably entry short soon, but I feel more conservative and I'll be waiting the breakout of the main trendline before planning my short position. Stay tuned for Updates and Trading Signals ! What's your opinion? Share your idea writing a comment! ⚠️ Please note the views are not investment advice and should be used only for educational purposes ⚠️ Trade Safe and Responsibly , Gianni
Short
by FXtrades-gp
12