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Gbpchflong

GBPCHF Long (Mean Reversion) with 3X Potential Reason List of Reasons for potential pull back/mean reversion: 1: The market is over extended and has been moving bearish for almost 3 weeks straight with no pull back. This is more visible on the weekly chart than on the daily chart. 2: The trendline on the daily chart was broken with no retest. 3: Month Support level was broken with no retest around the 1.25*** area Summary: The trade has the potential to be a 4:1 RR or more abut this will depend on how deep the pull back is. Targets are set using fib tool. We also have to wait for the market to change from bearish to bull which will be visible on the H4 and Daily chart. Once the market turn bullish, we will then be able to determine the correct RR of the trade. The trade will be left to run until the target is reached or between 5 to 10 trading days, whichever comes first. Those who plan to sell the market in its current state must be very careful as smart money might close short some positions on the pair, forcing price to turn bullish, allowing them grab some liquidity.
Long
by NDOBObanks
GBPCHF - Bullish BiasGBP - Strong Bullish 1️⃣ BOE official Michael Saunders says investors are entitled to place expectations on faster borrowing costs, while Governor Andrew Bailey warns that inflationary pressures are very worrying unless policymakers take action. 2️⃣ According to a Sky News report on Tuesday, UK Prime Minister Boris Johnson revealed as much as GBP 9.7 billion of foreign investment will be invested into the UK economy, which could create 30,000 jobs. 3️⃣ The UK inflation rate is expected to increase in September as the price component in both PMIs soared in the reported month. CHF - Weak Bearish 1️⃣ The price value on EUR/CHF is currently under SNB monitoring, which could lead to the central bank’s intervention at any time. ===== Technical ===== We are buying the GBPCHF after the price bounced back at the support level. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction. Don't forget to like, comment, and subscribe for more ideas.
Long
by MonsunAsia