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Gbpchfanalysis

Update On GBPCHF BUY Position STOPPED OUT :( :(Yesterday's CPI data in the US was like a bomb in the markets things went a little crazy during the US session after the news this resulted in my short term trade idea on the GBPCHF which triggered yesterday to get stopped out it happens this is trading :) I still believe that we will get a correction up towards 1.13 though we have now broke the 2020 low and you have to go away back to the 1970's to were price was at these kind of levels before entering the market again I will want to see a 4hr or daily close back above 1.11 with mmy indicator giving me a BUY signal on either of these timeframes this will give me confidence to buy this pair again. The Swiss Franc is very strong across the board at present as it is a safe haven in times like this as we can see markets are very very fundamentally driven right now and technicals are not working as they should it is best to stick to the higher timeframe charts to get a better picture of were the markets will go next.
Long
by TheFxAce
BUY GBPCHF Below 1.112 to Target 1.13 ??This pair has just been grinding down towards the 2020 LOW at 1.112 it did get a slight bounce here from the open yesterday and is again aproaching this level wiith MACD divergence signal starting to occuring on the 4HR chart, we are also extremely oversold at this level I am expecting a nice reaction at this level again. I will wait for a signal to occur on my Price action indicator on the 30min or 1HR charts and then enter a long position to target the newly formed Daily SUPPLY/SELL zone which created the new low in the current trend. This can actually turn into a nice long term position though for now it is a short term trade idea
Long
by TheFxAce
GBPCHF Long Trade SetupA bullish opportunity recently presented itself on the pound-swissy trading chart. This follows from the bullish engulfing candlestick pattern which printed just above the 1.11000 psychological level. A stop loss below the 1.10500 psychological level and a profit target anywhere between your entry and the swing high of 1.17791 could give you a reward-to-risk ratio as high as 4 or even higher. Be sure to size your position based on your trading account balance and apply other risk management measures before placing trades. FX:GBPCHF Stay frosty! Your FX Plug
Long
by charles-okoukoni
GBPCHF: How Can The Price Develop Near 1.1300 ?GBPCHF: How Can The Price Develop Near 1.1300 ? Price is actually testing the lower part of a very strong support area. The possibilities are clear that if the support area will hold the price will increase again and it can reach the previous resistance zones or targets 1.1377, 1.1420 and the extended 1.1520 If the price will manage to break down below 1.1300 it will open the door for more downward movement. So on the bearish scenario the price can reach 1.1225 and 1.1170. So it is better to know these scenarios in advance before trading GBPCHF Thank you and Good Luck!
by KlejdiCuni
10
Best Area To SHORT GBPCHF ??SELL Idea on GBPCHF this is a trend continuation trade going with the Weekly charts. GBPCHF has been dropping heavy as of late and looks like it is targeting weekly price zone between 1.125 -1.11 which are actually 2 weekly lows from 2020 at the beginning of COVID we had huge buying reaction here before and the way the market is dropping I suspect it will target this area. However I don't simply want to enter the market at current price I would like it to retrace towards the 1.145 -1.153 area on the Daily charts as marked on the chart. This is the last swing high that caused a new low in the current trend so is a great area to look to sell again and offers great R/R. I will monitor price action on the lower timframes as price approaches this area and look for evidence of momentum slowing down or wait for a 1hr or 4hr SELL signal to appear on my custom indicator or MACD. Stop loss will be placed above the 1.153 high and target zone is marked on the charts. The market may well continue to drop and never retrace back to the area I would like to SELL which would invalidate my idea.
Short
by TheFxAce
Possible Short Term LONG on GBPCHFBUY trade idea on GBPCHF I have also posted a SELL idea on another thread. GBPCHF has been grinding down for a while now extremely oversold again yesterday it popped a new low below 1.13 which was last week's low and the retracing sharply back up towards 1.135. Price seems to be forming a bit of a support around 1.13 though zooming out to the weekly charts we can see a Weekly low/support from 2020 @ 1.125 so I suspect the market will try and test this. My idea for today is to look for a BUY signal using either my custom indictor or a MACD divergence signal on 15min or 30min chart as price approaches and goes below the 1.13 mark I have marked my trigger zone on the chart. I will want to put my stop loss down below the 2020 weekly low/support @ 1.121. Profit target will be between 1.145 - 1.15 using a trailing stop as the trade progresses. Breakeven target will be 30 - 40 pips closing 50% of the position and moving the stop to entry price. If no signal occurs on my indicator or on the MACD I will not enter this trade and a clean break and close below the 1.125 level will invalidate my idea.
Long
by TheFxAce