SL little above X. TP - 38,2% Fibo confirmed by previous structures, possibly lower - to 61,8% Fibo Then the market is likely to continue the uptrend and form a possible bearish Gartley, few days probably:
This medium-term trade is good because it happened right at the beginning of the day. This means that there was a real stack of supply at that price that wasn't filled in. Prices moving back in that would give an opportunity to sell the Pound against the Swissie again. The problem with this zone is that it is merely a continuation of the down move beforehand. So...
Channel formed on 4h and 1d charts. Wait for possible retracement before triangle breaks upwards towards the Weekly resistance.
The rise from 1.4139 is impulsive (5 waves). This implies the trend is up. However, after 5 waves a correction is due. Ideal entry zone is between the 38.2% and 61.8% Fibonacci retracement levels. Areas in blue are real support. Wave count invalidation is all the way down at 1.4139. This analysis is being made to supplement the Technician's 4th Trade and provide...
I suspect it's time for the NZD to catch up with the GBP vs the Swiss Franc as you can see in this chart. The trade offers a great risk/reward ratio if it works. I'm entering a long position now, and looking to scale in if possible, using the 4h chart as a guide. The rate decision will bring intense volatility, and might fuel a strong rally. Cheers, Ivan.
I entered a long here. Price is sitting at a weekly mode since the lowest low. There's a daily downtrend signal that expired yesterday, and it seems like GBPUSD is ready for a move up. It's interesting how the monthly mode has supported price here, while the daily was in a downtrend, with strong up bars in between, and the weekly showing us no new low in 5 weeks...
Analysis on chart, we got a rising mode, 11 bars, no new low, and a breakout from a highest low channel, followed by price making a sideways correction, building up the mode and now falling into fibonacci support. I'm long from here, with a tight stop. Good luck if you follow me, I think it'll cross above the mode and go for the balance point. Cheers, Ivan.
The GBP is the strongest currency of all the majors, although the CHF is not particularly weak. But the GBPCHF pair has confirmed, with its low on May 19th, that it's following this up sloping fork. Short-term it's showing a robust up trend. If momentum is maintained, price is likely to reach the upper median line parallel (a continuation of an Andrews'...
19 MAY UPDATE: READ COMMENT SECTION BELOW. JUST WANT TO BRING THIS MAGNIFICENT SETUP TO TRADERS WHO ARE FOLLOWING ME. TAKE NOTE OF THIS INVERTED H&S ON KEY RESISTANCE WITHIN A WEDGE PATTERN THAT IS FINALISING. OBSERVE PRICE ACTION FOR SPLENDID RISK REWARD. PRETTY SURE THERE IS HUGE VOLUME OF BUYS AT THE BREAKOUT OF THAT INVERTED H&S. THOSE FOLLOWING ME SHOULD...
@TradeYodha (TradeYodha.com) #GBPCHF 15min Short Idea Reasons: 1. Previous structure with spikes 2. 50SMA lagging behind on 15 min that should attract the price 3. 10sma lagging behind og higher time frame i.e. 1 hour that should attract the price 4. FIB 1.27 extension in zone 5. possible harmonic move 6. retracement expected Must wait for confirmation before...
The Swiss franc is lower on the day amid speculation that the Swiss National Bank (SNB) will intervene in the foreign exchange market in order to actively weaken the currency. As you can see by the comparison, gold tracks the Swissy rather closely. Interestingly enough, gold's all-time high of $1,923 ended at about the same time the SNB decided to peg their...
Many of you that follow me are aware that I've been testing out a new theory on the Cypher pattern. In fact i initially had 2 theories that I wanted to test but after speaking to the creator we decided to focus on the one. I'm months away from completing this testing since free time is hard to find these days with the new born and all, but this is the first...
SNB is currently under pressure with the current attack of the 1.20 floor on EUR/CHF. Not maintaining this floor would represent a serious credibility risk for the Swiss central bank. According to recent comments from Danthine and Jordan they will do everything to maintain the floor even using "unconventional measures" (like negative interest rate or ultimately...
English : Channel up break down, but price still stuck in classic support and resistance area. Take long position with target 1.5500 need very tight stop level, because if new low perform, will open new path to support zone as bearish target this week. Indonesian : Channel up break down, namun harga masih tertahan pada classic support and resistance. Mengambil...
EURGBP approaches structure res. @798 for bearish bat completion. Another bearish bat awaiting @803 highs which overlaps with equal leg ABCD completion
If PA drops on today UK data (earnings, employment) and continues down bullish shark completion @5037 and bearish 5-0 wave3 @5025