GBPCHF bearish analysis
Updated
Hello guys
Everyone who is Elite member - wait for proving decision if price will close that way
GBPCHF currency pair is at overall bearish trending and bearish territory, which means price might hit higher levels or break H4 lower low level correctly.
If price will continue higher, we have to take advantage from buy side on daily chart. Daily chart giving us a possible swich at H4 lower low. If daily buyers will confirm it, then we have to follow analysis and swich H4 LL to daily LL. Keep that in mind. And this will be one of the facts why bearish targets might not be observed anymore.
If price will break recent H4 lower low level correctly, then price is again headed to 1.21442 support level. Recommend trading beetween H4 and H1 timeframe.
If price will stay stable bellow 1.21442 ''new resistance level'' we have to be aware of daily candle closing and structure too, before we are looking potencial target at 1.19941.
Everyone who is Elite member - wait for proving decision if price will close that way
GBPCHF currency pair is at overall bearish trending and bearish territory, which means price might hit higher levels or break H4 lower low level correctly.
If price will continue higher, we have to take advantage from buy side on daily chart. Daily chart giving us a possible swich at H4 lower low. If daily buyers will confirm it, then we have to follow analysis and swich H4 LL to daily LL. Keep that in mind. And this will be one of the facts why bearish targets might not be observed anymore.
If price will break recent H4 lower low level correctly, then price is again headed to 1.21442 support level. Recommend trading beetween H4 and H1 timeframe.
If price will stay stable bellow 1.21442 ''new resistance level'' we have to be aware of daily candle closing and structure too, before we are looking potencial target at 1.19941.
Note
Both circled spots are fakeouts. If last circled are is confirmed by lower timeframe (read analysis), then trading GBPCHF is no more then to 1.21442 support level. For more you will need more facts.
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