GBPCHF SHORTOn the daily chart the price began its decline after it touched the daily key level. The price has pulled back to the 50% fib level and has formed a bearish flag on the 4h chart. I will take another short right here.
Good luck !
Gbpchfshort
GBPCHF Sell Opportunity!!! Bullish Retracement Completed!!!We can see that BULLISH strength is starting to weaken as it recently moves near the 50.0 fib level. For now, I will be seeing great BEARISH pressure from 50.0 fib - 61.8fib level max. Having said that, 61.8 fib price level is also where a strong resistance level lies (@1.2120). You can choose to enter a few trades for this pair at the various level or if you will want to take the risk you can enter at 50.0 fib level. I will see this pair moving to the support level @1.1918 also where the ichi cloud is. Further movement will be updated again.
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Bearish movement in GBPCHF or Consolidation continuationStrong suggestion of a bearish continuation for now. Low volume means a possible prolonged consolidation period that could see ranging until Tuesday.
Rejection at the violation zone (box below) would validate the ranging warranting a break and retest of it with some big engulfing moves.
Two Options for GBPCHF Movement. Feel free to commentGBPCHF has been moving as expected thus far. Big movers (banks) appear to be taking profit on their buy orders and have potentially begun acquiring buy orders. To verify this info I would look for a push down due to a lack in volume and too high orders that force market down. From here we will see what they plan to do.
A move further down would below lower level would hint at an accumulation of more buy orders and thus could expect a push up later in the week or the start of next.
A brief (few hours or day) move down to the lower level then back up to the current level or above would validate my suspicion of the Big Movers taking position for the Sale to come.
The volume of willing participant will effect the time-frame of these movements so I will be hoping that Volume is above the 20 avg. to make this movement go smoothly. Otherwise, some prolonged ranging in the markets as they try to accumulate and dump as many positions as volume will allow.
FX:GBPCHF
📊 GBP-CHF CHART ANALYSIS🌼 Currently running trade, our analysis here is based on the breakout below 1.20300 in line with our ABC Elliot waves correction, as the brexit uncertainties continues and the surge in covid cases we expect the sterling to drop further below 1.18000 price level again which sits on the trend support.
💭 In attached chart you could see the trend breakout and elliot wave correction on the H4 and the ranging chart on the D1 our entry in H1 TF below the bearish flag penant indicating a clear confirmation of a bearish call.
💚Regards
The NiclaxFX Team™️
GBPCHF - ONLY SHORTS FOR NOWMy speculation is we will not see any long opportunities, besides retracements(which is a patient game, not a trading game). Price has rejected off of a very commonly known support/resistance zone in its range. Use risk management when entering a position after retracement, and use a 3+ R/R. This is not financial advise just an opinion .
GBPCHF - Historical levelThe price is returned for retest level - the previous touch of the level more than 1 month ago. moreover, a strict namber of false breakdowns.
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GBPCHF, 4hr tf, Head and shoulders pattern to materializedHello my friends,
Another setup for you is GBPCHF pairs.
This pair has moved in a sideways direction for the last 7 weeks since late September until now.
There is no clear direction from this pair and i think we could finally see some strong movement soon.
I am more bearish to this pair because the last 2 days, CHF was so strong.
You could see after marking my hozitontal support and resistance, i drew a trendline and price now below this ascending trend line.
At the same time, a head and shoulders pattern also completed and we could see price break the neckline soon.
The measured objective of this pattern is around 160-170 pips.
Sell GBPCHF 1.1845
Stop loss 1.1890
Take profit 1.1645 (4.4R)
RR ratio 1 : 4.4
Use only 1-2% risk
Good luck
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GBPCHF Compliting the bearish correction flag gbpchf is heading towards the resistance zone to complite the bearish flag correction patters ready to push down
Gbpchf ShortPrice is rejecting daily strong resistance and 50% fib retracement.
One trade is already running lets see how it goes.
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Thanks for reading.
GBPCHFTrading idea on GBPCHF. This pair should go downwards as it is in the frame of a falling channel. See the chart for how it may move. Like this idea if it helps you!
GBPCHF SELL TRADE SETUP. GBPCHF SELL TRADE SETUP.
Please manage your risk. Use Stop loss. And do not take blind entries.
If you have a question let me know. If you want to analyze any pair let me know.
This is just an idea. What we see.
The Market can go in the opposite direction, what we analyze. So we have to manage our risk and adopt the situation accordingly.
gbpchfI fell that we will have a pullback here before bearish trend restore
Take this on your own responsibility
