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Gbpchf_forecast

FOLLOW ME: GBP/CHF SHORT OpportunityGBP/CHF is currently at the top of a bullish channel and it appears that it's time to short (at least in the short-term) or at the very least it's time to exit longs and wait for re-entry. Check out my other GBP posts that should be up within the next few minutes. They are showing the same thing! COLOR KEY (which time frame each markup is based on): RED - Monthly ORANGE - Weeky GREEN - Daily AQUA BLUE - 4H PINK - 1H LIGHT BLUE - 15M PURPLE - 5M Feel free to leave your thoughts in the comments below! Make sure to BE RESPECTFUL OF ALL COMMENTS so that we can utilize this platform to help each other and to build each other up! After all, we're all here looking to build our wealth so let's do that with a unified spirit. :)
Short
by Jabest
1
GBPCHF long long longThe pair is getting ready for an explosive move imo. After entering oversold territory and bouncing back the pair has been meeting resistance at around 1.194 area as expected. It did try to move lower but it failed to do so, we can see the last daily candlestick is a pinbar and the day before it also failed to move lower. If it breaks the resistance the pair can move up all the way to the next horizontal resistance at 1.224. Bear in mind that we will face some resistance at the MA50. 4H chart becomes interesting : We see a very clear inverse H&S formation, you can also say it is a cup and handle formation or simply that after a strong move upwards after meeting support the pair has slowdown a little bit before making the next move up. It doesnt matter how we call it, the important thing is that if the pair breaks the previous highs (black line) it has the potential to move quick. Trade safe!
Long
by MicKi
GBPCHF - 150 PIPS + OPPORTUNITYDo not open any trades yet, wait for second high test. I personally have already opened a trade when it did it's high test before the last candle drop. Will keep it open or close it as the market gives more data as to which direction it wants to take. GBPCHF has broken under the 4H 50 EMA and is failing to recover back on top. Following the drop, prices did a high test (weren't able to push for a move higher up). Thus, confirming it can't move back up. We can expect a drop of 150 pips + after another high test happens shortly (Green candle with tick only on top of body and preferably no tick under the body) on the 4H chart. Trade safe.
Short
by MoolahMaker
GBPCHF Testing Major Resistance, Time To SellGBPCHF is testing strong resistance presenting us with a good selling opportunity. Sell below 1.3466. Stop loss at 1.3527. Take profit at 1.3335. Reason for the trading strategy (technically): Price is testing major resistance at 1.3466 (Fibonacci retracement, horizontal swing high resistance, bearish harmonic formation) and a strong reaction could occur from this level to push prices down to major support at 1.3335 (Fibonacci retracement, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below 97% and a corresponding reaction could occur from this level.
Short
by MEX_Exchange