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Gbpchfshort

Time To Sell At 1.15??There has been no stopping the bulls on this pair since it made the lows at the end of last year towards the 1.06 area. Its took the exact path I planned out in the idea that I posted in October last year dropping down towards 1.06 before rallying back up towards 1.15 (read related idea below) So what next for this pair ?? Given the extent of the rally and the fact we are now approaching a key resistance area @ 1.15 I'd say a short term sell off is on the cards from here. The daily chart shows this resistance a lot clearer in fact before that breakdown towards 1.06 price had been stuck in a range between 1.10 and 1.15 for quite some time with sellers stepping in every time 1.15 was hit. If we zoom into the lower 4HR chart there is clear slowing of momentum occurring as price approaches 1.15 with every pop higher getting quickly sold of. Too me this is a clear sign that sellers are starting to position themselves into selling positions and buyers are profit taking anticipating a move down from 1.15. I will be looking for sell signals on my TRFX indicating as we hit the 1.15 level targets for this positions will be the newly created weekly DEMAND/BUY zone around 1.12 and we may even get a deeper correction down towards 1.10. I would expect buyers to start buying again at these levels and if there is a clear break and close above the 1.15 level then a move up to the 1.21 Monthly SUPPLY/SELL zone is highly possible. Though before this occurs I expect a sell off first. Hope you enjoyed the read let me know your thoughts below.
Short
by TheFxAce
12
GBPCHF Analysis on Weekly Time Frame GBPCHF: Anticipating a Bullish Breakout from Falling Wedge The GBPCHF pair is showing signs of forming a falling wedge pattern on the weekly chart, a development that typically signals bullish momentum ahead. This pattern is recognized by converging trendlines that slope downwards more steeply at the resistance line than at the support line, suggesting a slowdown in the downtrend and a potential reversal. Key Observations: Pattern Development: The falling wedge is not yet complete, but the converging trendlines suggest its formation. Bullish Signal: This pattern often precedes a bullish breakout, indicating a potential reversal of the preceding downtrend. Volume: Look for declining volume as the pattern develops, which often leads to a volume spike upon breakout. Trade Strategy: Entry Point: Consider a long position if a breakout above the upper trendline occurs. Stop Loss: Place a stop loss just below the most recent swing low within the wedge. Take Profit: The height of the wedge at its widest point can be used to project the upward target from the breakout point. Risk Management: Confirmation: Await confirmation of the breakout with an increase in volume. Market Sentiment: Keep abreast of market news and sentiment, as these can influence the breakout’s strength and sustainability. Trade ideas are speculative and should be used in conjunction with a comprehensive trading strategy and risk management. This trade idea is based on the falling wedge pattern, which is generally considered a bullish chart pattern in technical analysis. It’s important to wait for the pattern to fully form and for the breakout to occur before considering any trades. Happy trading!
Long
by itmecrypomania
2
GBPCHF Analysis on 1 Hour ChartGBPCHF: Exploiting the Diverging Triangle for Swift Gains The GBPCHF pair has formed a diverging triangle pattern on the hourly chart, suggesting a potential breakout. This pattern, characterized by two diverging trendlines, indicates increasing market volatility and the possibility of a strong price movement. Key Observations: Pattern Structure: The diverging triangle is identified by a support line that is more horizontal and a resistance line that is steeper. Impending Breakout: The pattern typically results in a breakout, which can occur in either direction. Volume: An increase in volume during the breakout can confirm the pattern’s validity Trade Strategy: Entry Point: Monitor for a breakout above the resistance line or below the support line for entry. Stop Loss: Place a stop loss just outside the triangle’s boundary opposite to the breakout. Take Profit: The distance between the widest part of the triangle can be used to estimate the profit target from the breakout point. Risk Management: Confirmation : Seek additional confirmation through other technical indicators or candlestick patterns. Market News: Stay alert to news events that could trigger increased volatility and affect the breakout direction. Trade ideas are speculative and should be used in conjunction with a comprehensive trading strategy and risk management. This trade idea is based on the diverging triangle pattern, which is less common than its converging counterpart but can signal significant price moves. It’s crucial to validate the breakout with volume and other indicators for a robust trade setup. Happy trading!
by itmecrypomania
Sell GBP/CHF Channel BreakoutThe GBP/CHF pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined bearish channel pattern. This suggests a shift in momentum towards the downside and a higher likelihood of further declines in the coming minutes or hours. Key Points: Sell Entry: Consider entering a short position around the current price of 1.1222, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: Initial bearish targets lie at the previous support levels within the channel, now acting as potential resistance zones: 1.1151 and 1.1108. Further downside targets could be determined using other technical analysis methods like Fibonacci retracements or extensions. Stop-Loss: To manage risk, place a stop-loss order above the broken support line of the channel, ideally around 1.1252. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you
Short
by KABHI_TA_TRADING
6
SHORT GBP/CHF from 1.2518I noticed a double top and a potential M-Top formation at resisTNCE ON gbp/chf this morning. The neckline of the M-Top has just broken and we have other BEARISH signals. The under used and under appreciated Andean Oscillator has seen the red SELL line move awau from zero indicating the possible entry of BEARS into this market. We now need to see now is the green BUY line of the Andean Oscillator read less than the signal line (currently the green sell is higher than the signal line) so this trade is a touch premature as we do not have that confirmation but the RSI on H1 was reading 78 an hour ago and is now reading 69 so its dropping from overbought levels. The MACD has yet to catch up with the price so we do not have a SELL confirmation on MACD which would preferrable. The double top is the key selling point (as it were) for this trade so I'm in a bit early with this trade but it will result in more pips if it works out. STOP is above the high at 1.1269 but I'll be closing this trade early if there are signs that GBP/CHF BULLS are not finished with this market.
Short
by forextraplaces
GBP/CHF SELL from market 1.11.25All the signs are that this pair is headed south. On H1 we are now under all key EMA's (25,50,100,200) and on H4 we are slipping unde the 50 EMA having broken the 25. The Pivot Point SuperTrend is signalling SELL and the Andean Oscillator has the red SELL line heading north (for a sell signal) as it has been for the last 2 days. My STOP for this trade is ultra tight being set at 1.1138 so its a minimal 14 pips. Target initially is WS2 Weekly Pivot but this will only be reashed if the WS1 pivot breaks which we will not know about until it reaches that level (1.1102) if indeed it does. MACD has confirmed the BEARISH bias and the only concern is RSI which is now readin oversold at 29 on H1. No scheduled news now to get in the way of this trade until 13:30 GMT Thursday so this pair will head to where the traders are pushing it and for now at least this looks like south.
Short
by forextraplaces
GBPCHF I Potential short from supply zone Welcome back! Let me know your thoughts in the comments! ** GBPCHF Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
3
Sell GBPCHF Bearish ChannelThe GBP/CHF pair on the M30 timeframe exhibits a bearish channel pattern, suggesting a potential selling opportunity in the coming minutes or hours. Let's delve deeper into the details: Key Points: Bearish Channel: The price has been trading within a downward-sloping channel defined by two converging lines: a falling resistance line and a falling support line. This pattern often indicates ongoing selling pressure and the potential for further decline. Sell Entry: Consider entering a short position around the current price of 1.0940, which is close to the channel resistance. This could offer an entry point near a potential reversal point. Target Levels: Initial bearish targets lie at the support levels of 1.0892 and 1.0867, marking previous support zones within the channel. Stop-Loss: To manage risk, place a stop-loss order above the channel resistance line at 1.0965. This helps limit potential losses if the downtrend breaks unexpectedly. Fundamental Updates : UK Bank of England (BoE) meeting minutes: Due for release later today, these minutes could shed light on the central bank's future monetary policy stance. Hawkish signals might boost the Pound, while dovish ones could weaken it. Swiss National Bank (SNB) Chairman Thomas Jordan's speech: Scheduled for tomorrow, February 2nd, any comments about potential interventions or the economic outlook could impact CHF sentiment. Thank you
Short
by KABHI_TA_TRADING
14