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Gbpchfsetup

GBP/CHF Retreating To SupportGBP has been correcting over the past few days against most, if not all pairs. This recently had a breakout above a big resistance level so the retrace was expected and should go back to this previous resistance which will now act as support. Anywhere from 0.382 and 0.5 Fibonacci will be a good longing position. We need to see the price start to turn first and the MACD and EMA's confirm this is turning higher before entering a position. Target is 1.25320 although there could be some resistance at 1.24742
Long
by olly48
GBPCHF | Perspective for the new weekEnjoying a 250pips run in our direction on my last publication (see link below for reference purposes) on this pair, It appears we have another trading opportunity here-with. The Pound to Swiss Franc (GBP/CHF) exchange rate holds steady as the price continues to respect Demand level @ Fr1.19300 in the last couple of weeks. Even though the Sterling continues to struggle against many of its peers, Chancellor of the Exchequer - Rishi Sunak unveiled a £4.6 billion relief packaged for the retail and hospitality sectors which "might" be a buffer as I am expecting an appreciation in value in the coming week(s) despite a possible Swiss National Bank (SNB) intervention reiterated at their recent policy meeting of 2020. Tendency: Uptrend ( Bearish ) Structure: Double Bottom | Breakout | Supply & Demand | (50/61.8%) Retracement Observation: i. We experienced a successful Breakout of Fr1.19500 (23rd Dec, 2020) followed by a rejection of this level twice! ii. Demand level @ Fr1.19500 has been holding strong for buyers in the last 13days as expectations of Higher Highs build up. iii. It is also worthy to note that demand level is holding a 50% retracement (with the possibility of hitting 61.8% open) of the Impulse leg after the Double Bottom @ Fr1.17200. iv. It is pertinent to state here that our "caution" tentacle MUST be on standby as we might expect retracement into Fr1.18560 for a buying window. Trading plan: BUY confirmation with a minimum potential profit of 220 pips. Risk/Reward : 1:3 Potential Duration: 3 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
GBPCHF | perspective for the new weekHopes of Brexit deal wanes again; GBPCHF sinking back towards lows as it finds a haven for selling pressure around Fr1.20300. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Harmonic (AB = CD) Observation: i. Since completion of Double Top pattern in late Nov. 2020, price continues to risk further decline. ii. Previous safe haven for Buyers was finally broken last week as price tested Fr1.19100 before making a corrective move. iii. As price touches 50% retracement of AB leg, a possible Harmonic pattern AB = CD appears to metamorphosize in the coming week(s). iv. AB = CD pattern shall guide me through the path price action takes in the coming week. ii. ABCD pattern parameters explained below; a. Impulse A-to-B will be in harmony with the potential C-to-D leg. b. The B- to-C leg is at 50% currently (with a possible 61.8 or 78.6% in the future)Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move. Trading plan: SELL confirmation with a minimum potential profit of 250 pips. Risk/Reward: 1:3 Potential Duration: 1 to 5 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
GBPCHF, 4hr tf, Head and shoulders pattern to materializedHello my friends, Another setup for you is GBPCHF pairs. This pair has moved in a sideways direction for the last 7 weeks since late September until now. There is no clear direction from this pair and i think we could finally see some strong movement soon. I am more bearish to this pair because the last 2 days, CHF was so strong. You could see after marking my hozitontal support and resistance, i drew a trendline and price now below this ascending trend line. At the same time, a head and shoulders pattern also completed and we could see price break the neckline soon. The measured objective of this pattern is around 160-170 pips. Sell GBPCHF 1.1845 Stop loss 1.1890 Take profit 1.1645 (4.4R) RR ratio 1 : 4.4 Use only 1-2% risk Good luck If you find this post useful, please like my posts and follow me for my next updates. Check my bio as well to find something interesting.
Short
by HayatoDragonFX
2
GBPCHF Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of GBPCHF (Monthly, Weekly, Daily for direction and 4H for entry) for Week 41 - 05 Oct M > Price dropped till monthly support level that has pushed market to the upside in past. W > Price moved up to test the neck and complete M formation. D > We can see an M formation in Daily Chart providing next target. As per COT GBP saw closure of Long and addition of major short positions bringing net position to -ve, whereas N-R saw closure of both Long and Short, Commercials saw addition of Long and closure of Short. BXY was weak for the said week but it improved its position last week. CHF saw closure of Long and addition of few Short positions reducing net positions. SXY was very weak for the said week. SXY was strong last week. 4H > While moving up price broke neck and moved ahead but price pulled back to complete recently created W formation and is now moving upwards to our next target. Pair Correlation: GBPCHF has positive correlation with GBPUSD, GBPJPY, GBPCAD, GBPAUD and GBPNZD and negative correlation with EURGBP. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section you can share your view and ask questions. Thank You AP17FX
Long
by AP17FX
1