GBPCHF - Looking for short opportunities now
Correction seems to be over for GBPCHF, finally.
We are looking for short opportunities. Watch the break of the ending diagonal-like pattern on the 60min chart (chart will follow immediately as update). We are looking into selling the break of said diagonal. Stop above previous high. Medium term target in the 1.0353 area (could move pretty impulsively). If you prefer a more conservative approach, wait for break to be confirmed on the 1hr time frame, let the 1hr impulse to the downside to complete itself, wait for a small correction to the upside, and sell the break of said correction.
Trade with care and only with a backtested strategy that works for your trading style.
Please don’t forget to follow us, if you feel that our analyses and views may be a useful complement to your trading strategies.
Thank you for viewing.
We are looking for short opportunities. Watch the break of the ending diagonal-like pattern on the 60min chart (chart will follow immediately as update). We are looking into selling the break of said diagonal. Stop above previous high. Medium term target in the 1.0353 area (could move pretty impulsively). If you prefer a more conservative approach, wait for break to be confirmed on the 1hr time frame, let the 1hr impulse to the downside to complete itself, wait for a small correction to the upside, and sell the break of said correction.
Trade with care and only with a backtested strategy that works for your trading style.
Please don’t forget to follow us, if you feel that our analyses and views may be a useful complement to your trading strategies.
Thank you for viewing.
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Watch out, diagonal could be still in progress, and GBPCHF could crawl it's way up some more, before giving us a short opportunity. We are in the sell from the top already, but in break even.
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We hope everyone got the break to the low of the previous 0.382 extension of the previous a wave:
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Daily overview above.
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So far so good also on our short trade on the GBPCHF pair. At the moment, GBPCHF seems to be in a channel. It has gone down quite impulsively, but is still in a channel, if you look at it on the 60min timeframe. If it breaks out of the channel to the upside, we will consider partially closing our short positions, putting the ones that remain open in BE, or put all positions in BE.