GBPCHF
From the daily point of views, price is sitting at the supply area, expect a deeper retracement to the downside, since this pair was overextended moving to the upside. If the price manages to break below and retest the new structure area, we may a potential IHNS for the downside confirmation.
From the big players perspective, they are still bearish bias on the GBP, more short added than the long they had added, net positions from 4k become -36k, this can tell us that they are actually bearish bias on GBP in the longer-term. Moreover, hedge funds are added another 1k short and closed 12k of long on the GBP. This implied during the GBP push to the upside, huge long positions are closed and short adding, expect a big drop soon.
The proper way to approaching on this pair should be waiting for a clear environment shifted, once the market in the bearish condition, then only can looking for any short setup. Just shorting at current level is not a proper way, the price can easily break move to the upside since overall is still bullish in the lower timeframe.
Comment down below and let me know your views on GBPCHF
From the big players perspective, they are still bearish bias on the GBP, more short added than the long they had added, net positions from 4k become -36k, this can tell us that they are actually bearish bias on GBP in the longer-term. Moreover, hedge funds are added another 1k short and closed 12k of long on the GBP. This implied during the GBP push to the upside, huge long positions are closed and short adding, expect a big drop soon.
The proper way to approaching on this pair should be waiting for a clear environment shifted, once the market in the bearish condition, then only can looking for any short setup. Just shorting at current level is not a proper way, the price can easily break move to the upside since overall is still bullish in the lower timeframe.
Comment down below and let me know your views on GBPCHF
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.