GBP-CHF ( Short )Touched Strong Resistance and wait for the broken trendline and also a reversal candle
Good Luck! :)
Gbpchfsell
GBP/CHF Sell OpportunityIt seems GBP/CHF reached it's strong resistance price @ 1.34689. There is a good opportunity to retrace price until nearby support@ 1.32519.
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.
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
GBPCHF on a Bearish divergenceHi Guys,
Lets look at this chart and see that there is a double top formation from the previous top.
Also, we can see that there is a bearish divergence between the previous high and the peak with the RSI showing a downtrend.
From here, i believe that GBPCHF will reverse to a downtrend.
T/P1 at 1.3221
T/P2 at 1.3084
S/L above the 1.3500
Please don't trade more than 2% of your capital
Cheers!
GBPCHF Is Testing Major Resistance, Time To SellGBPCHF is presenting us with a really good selling opportunity.
Sell below 1.3434. Stop loss at 1.3522. Take profit at 1.3145.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.3434 (Fibonacci extension, bearish harmonic formation) and a strong drop could occur from here to push prices all the way down to 1.3145 (Fibonacci retracement, horizontal pullback support). We have our stop loss at 1.3522 (Fibonacci extension, above major swing high resistance) to give our trade some breathing space.
Stochastic (89,5,3) is seeing major resistance below 96% and a corresponding reaction could occur at this level.
GBPCHF Is Testing Major Resistance, Time To SellGBPCHF is presenting us with a really good selling opportunity.
Sell below 1.3434. Stop loss at 1.3522. Take profit at 1.3145.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.3434 (Fibonacci extension, bearish harmonic formation) and a strong drop could occur from here to push prices all the way down to 1.3145 (Fibonacci retracement, horizontal pullback support). We have our stop loss at 1.3522 (Fibonacci extension, above major swing high resistance) to give our trade some breathing space.
Stochastic (89,5,3) is seeing major resistance below 96% and a corresponding reaction could occur at this level.
GBP/CHF Sell Opportunity It seems GBP/CHF reached it's resistance price @ 1.31217. Now there is a good opportunity to go Bearish until price @ 1.29898
GBP/CHF 1D Chart: Heads towards 55-day SMAGBP/CHF 1D Chart: Heads towards 55-day SMA
The British Pound is simultaneously fluctuating against the Swiss Franc in three different patterns. The largest ascending channel started to form a year ago and nowadays consists of three reaction highs and two reaction lows. The medium ascending channel represents a fragment of the dominant formation and is lying along the rising 55-, 100- and 200-day SMAs. Accordingly, the third ascending channel began to form within the secondary pattern. As the currency rate has recently made a rebound, the Sterling is expected to enter into the new depreciation phase. In this sense, combined support set up by the 55-day SMA as well as the bottom boundaries of two secondary might temporarily withhold the pair above the 1.30 mark. But eventually the new medium-term downtrend is expected to prevail.
GBPCHF, 4H, Entry after market open?Hi traders,
The GBPCHF on the 4H chart is showing a beautiful Head and Shoulders pattern whereas the neckline has been broken. Now we are at a strong flipzone area that needs to be broken next. Let's see if we are going to break it or bounce back into the neckline.
As always, stay patient :)
GBPCHFWith the release of the Rightmove House Price Index this morning showing falling house prices in the UK we still have no reason to be bullish on the Pound.
GBPCHF has been in a strong downtrend of late, indicated by the lower lows and lower highs on our chart. We are looking at a very simple swing trading opportunity here by selling at the Weekly Central Pivot Point, IF an opportunity to enter a trade presents itself.
If not, we will re-assess at the 61.8& Fibonacci retracement level.
GBPCHFOur preference: rebound towards 1.2402 before a resumption of the decline.
Alternative scenario: in excess of 1.2402, the GBP / CHF could go on 1.2439 and 1.2462.
Comment: The RSI is greater than 50. The MACD is greater than its signal line and positive. In addition, prices are below their moving average 50 (1.2357) but above their moving average 20 (1.2343
Gartley Pattern on GBPCHF next to completion!Hey guys,
a simple harmonic pattern here on GBPCHF. It's going to complete right at a structure level: with stops above X and targets at 382 and 618 of AD leg it could be a nice shorting opportunity. Let's see how it plays out.
If you have questions or ideas to share, feel free to comment below.
Otherwise, see you in the next chart!
Gartley on GBPCHFHey guys,
a simple harmonic pattern here on GBPCHF. It's going to complete right at a structure level: with stops above X and targets at 382 and 618 of AD leg it could be a nice shorting opportunity. Let's see how it plays out.
If you have questions or ideas to share, feel free to comment below.
Otherwise, see you in the next chart!
Short GBPCHF Based on 4H + 1D Charts + FundamentalsFirstly: As a Londoner myself, it is deeply distressing to know of the recent terror attacks at London Bridge + Borough Market. My heart goes out to all those that have lost their lives to cowardly acts of terrorism that try to cause separation within our nation and everywhere around the world.
Technicals:
On the 10th of May 2017 price reached 1.30309 forming a double-top, which last touched on 6th of September 2016.
1D chart shows a strong downtrend, making lower highs since 11th of May.
We have a major Support = Resistance at 1.21607
4H chart shows an EMA crossover whereby the 50ema crossed below the 200ema (Death Cross) pushing prices down further.
More recently from 30th of May 2017 price has been ranging, yet continuing to make lower highs and lower lows as we see Bollinger bands constricting and gearing up to break out, more likely to the lower side again.
Fundamentals:
GBP has had a rough ride this year. Between David Cameron's resignation and the snap elections on 8th of June, we have seen great uncertainty. The recent rise in terror attacks across the UK has greatly affected tourism, something the UK economy does rely on heavily. Separate polls for the snap election are painting mixed pictures, causing fluctuations for major GBP pairs, however, I strongly believe Conservatives are losing seats with their new budget. The UK is looking towards Labour to lead the way once again and I expect this will cause a continuing decline for the near future.
The Swiss Franc (CHF), a noted safe-haven currency, continues to get stronger. Rising geopolitical tensions between the US and Russia have seen the Swiss Franc making strong gains, benefitting from an increased demand for safe-haven assets. If the deadlock over the Syrian conflict continues then the Franc could remain on a bullish trend, in spite of the threat of market intervention from the Swiss National Bank (SNB).
A 3.9 percent jump in exports in the three months through March helped push economic growth to 0.3 percent. While that fell short of the 0.5 percent forecast in a Bloomberg survey, it’s still the strongest performance in three-quarters.
Place your stop at 1.25413 and we leave TP - We could reach 1.21607 however, there are a few support levels we must break through to get there and with the elections nearing closer, we must take this trade with caution.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.
Great Britain Pound-Swiss Franc's decline continuation? Part IITwo days ago, we've seen the Great Britain Pound rise towards all of its pairs due to the decline of the Dollar... except from the Swiss Franc.
After my re-analysis of this pair (see my previous analysis at my Link to Related Ideas), I've seen another trend line on play at daily. Despite the ongoing ascending trend line , there is still a trend line on 4-hour suggesting a downside trajectory. I will be holding my short trade and will see where this will go. For safety of others, I will be putting the Investment Strategy on Neutral.
Great Britain Pound-Swiss Franc's decline continuation?A bearish fakey pin bar confirmation has occurred yesterday. However, despite this, there are several supports on the path for this pairs decline continuation. Freshly below the daily 200 sma, we can see that this pair has already broken below a strong support -- but a strong support still waits below.
