Update On GBPCHF BUY Position STOPPED OUT :( :(
Yesterday's CPI data in the US was like a bomb in the markets things went a little crazy during the US session after the news this resulted in my short term trade idea on the GBPCHF which triggered yesterday to get stopped out it happens this is trading :)
I still believe that we will get a correction up towards 1.13 though we have now broke the 2020 low and you have to go away back to the 1970's to were price was at these kind of levels before entering the market again I will want to see a 4hr or daily close back above 1.11 with mmy indicator giving me a BUY signal on either of these timeframes this will give me confidence to buy this pair again.
The Swiss Franc is very strong across the board at present as it is a safe haven in times like this as we can see markets are very very fundamentally driven right now and technicals are not working as they should it is best to stick to the higher timeframe charts to get a better picture of were the markets will go next.
I still believe that we will get a correction up towards 1.13 though we have now broke the 2020 low and you have to go away back to the 1970's to were price was at these kind of levels before entering the market again I will want to see a 4hr or daily close back above 1.11 with mmy indicator giving me a BUY signal on either of these timeframes this will give me confidence to buy this pair again.
The Swiss Franc is very strong across the board at present as it is a safe haven in times like this as we can see markets are very very fundamentally driven right now and technicals are not working as they should it is best to stick to the higher timeframe charts to get a better picture of were the markets will go next.
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Join Telegram group -t.me/+T7V_JSiKKsliMTJl
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Related publications
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.