13-07-2022 _ Short Term Bullish Idea _ GBPCHF H4
1- Price action has bounced from a support zone which it has retested multiple times.
2- Bullish Divergence.
3- Price action then flipped and created a new HH, thus forming Convergence.
4- This presents a typical case of Divergence followed by Convergence, which suggests
consolidation / pullback followed by a move to the UPSIDE.
5- Currently it looks like a pullback is happening.
6- Hidden Divergence on the MACD Histogram.
7- Hidden Divergence suggests an UP move, thus forming confluence with Convergence.
Therefore, as long as the Support Zone holds my view remains Bullish.
Target 1 @ 1.17745
Target 2 @ 1.19114
Protection @ 1.1500
2- Bullish Divergence.
3- Price action then flipped and created a new HH, thus forming Convergence.
4- This presents a typical case of Divergence followed by Convergence, which suggests
consolidation / pullback followed by a move to the UPSIDE.
5- Currently it looks like a pullback is happening.
6- Hidden Divergence on the MACD Histogram.
7- Hidden Divergence suggests an UP move, thus forming confluence with Convergence.
Therefore, as long as the Support Zone holds my view remains Bullish.
Target 1 @ 1.17745
Target 2 @ 1.19114
Protection @ 1.1500
Trade closed: stop reached
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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.