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Gbpchfshort

GBPCHF short trade ideaPlan: wait for the price to bounce off from trendline or resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in the comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
GBPCHF: Is the Price BREAKING its TRENDLINE? 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 : In the weekly time frame, since March 2020, the price has been following a clear side trend, reaching many times its support and resistance level. It has currently reached a strong resistance zone at about 1.21281 and there is a possibility of market reversal. In the daily time frame, at the beginning of December 2020, the price got a strong positive impulse, moving up reaching the main weekly resistance level. It is currently retesting its dynamic support. In the h4 time frame, the price is clearly following a strong uptrend, bouncing many times on its dynamic support. It got few rejections on the resistance zone at about 1.21500 and it's now retesting the dynamic support of its trendline. The next price action around that level will be essential to understand the next market movement. 🔴 Conclusion : The price has just reached an important weekly resistance zone that rejected the price many times and we can definiltely see that it is losing strenght to grow. I'm confident to see the price breaking its dynamic support line and falling down until the next support zone at about 1.19250. I'll start planning my short trade only once the price will break and retest the dynamic S/R level. 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
8
GBPCHF: SHORT Idea, a possible MARKET REVERSALHi traders and welcome to my channel, if you enjoy my FREE Technical Analysis , support the idea with a big LIKE 👍 and don't forget to SUBSCRIBE my channel, you won't miss anything! TECHNICAL ANALYSIS: Since June 2020, the price has been following a huge descending channel (switch on the daily perspective to get a better view), the price got many rejections any time it reached the dynamic resistance of the channel. In the H4 chart, the price has been creating a clear ascending triangle started at the end of December 2020. Today the price broke a daily resistance level at about 1.21178, and now it seems is going to reach our strong dynamic trendline, the next price action around this area it will give us a clear confirmation about the next market's movement. CONCLUSION: The ascending triangle is usually a continuation's pattern, but alone it doesn't mean anything! We need to consider that in a daily view, the price is reaching a strong resistance level that inverted the market many times and there's an high possibility that it could happen again, so I'm confident to see a bearish movement until the level at about 1.20500 Stay tuned for updates! What's your opinion? Share your idea writing a comment! Trade Safe and Responsibly Gianni
Short
by FXtrades-gp
8
Trading Plan #GBPCHF (SHORT)Good day, traders! Don't forget to put your thumbs up and write your comment if you like the idea 🔥 The pair is trading near a key and important resistance zone from where it has never been pulled back, selling from the current or from the 1.1213-1.2102 zone, then lowering the pair to the local level in the 1.2061 area, then the 1-2102 rest zone and further fall of the pair towards the nearest support targets at 1.20051-1.19872 DISCLAIMER: The author's opinion may not coincide with yours! Keep this in mind and consider your trading transactions before making a trading decision.
Short
by Vadim_PetrovichFX
3