GBPCHF looks like it's creating a Cup and Handle pattern (the handle coming off a third resistance trendline touch). This is how we'll trade this in anticipation of the completion of the Handle to go long: On that third trendline touch, the price arrived correctively with a rising wedge (in lower timeframes). This is a bearish pattern, so an opportunity to go short has been presented. However, the entry will only be confirmed with a cross of the wedge's support trendline, to hold until the bottom of the pattern (which is at a resistance now support zone), where we will be looking for a reversal pattern to trade the Cup and Handle to the upside. Be patient and observe what the price does and execute based on what's offered. It's important to consider that just because it may seem as if something is forming does not necessarily mean it will be formed, so let's always take what is offered and go from there.
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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.