Triggered on GBPCHF - Video on why we bought this levelFX:GBPCHF , OANDA:GBPCHF , SAXO:GBPCHF
Here is a video on GBPCHF. We posted a buy idea on the pair this morning (see the related idea).
Just a quick run through on the reasoning behind it and why we thought it was a decent speculative trade to have a look at today.
Feel free to comment if you have any questions or would like to discuss anything.
Full details of the trade can be found on our wall or in the related idea link.
GBPCHF
Short term view on CHF pairs - More CHF strength expected.FX:USDCHF , FX:GBPCHF , FX:EURCHF , FX:CHFJPY
Geo-political tensions support CHF pairs.
Here is our latest analysis on the short term outlook of CHF pairs.
The franc continued to gain support during Thursday despite net gains in global equity markets.
Expectations of dovish policies from the Federal Reserve and ECB were important in underpinning the Swiss currency.
Geo-political tensions were also an important element providing Swiss support notably fears over increased tensions over Iran.
Good luck!
GBPCHF Short Trade EntryGBPCHF has broken to the downside on a 3 wave structure on the daily time frame and has done so on the H4 time frame as well. This is an indication of a continuation to the downside.
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GBPCHF Potential Sell Trading PlanGPBCHF is Standing on D1 Resistance zone
There are several reasons to short this pair
Reason 1: D1 Resistance Zone
Reason 2: Triple Top ? (If Current D1 candle closes as Bearish "Engulfing"
Reason 3: H1 Ascending channel downside Breakout
Reason 4: Bearish RSI divergence
Reason 5: If Price pulls back to 1.3390-1.3410 and forms Bearish Price action candlestick pattern confirmation this will be 5th reason