GBPCHF Short Term Forecast And Technical Analysis

0
215
GBPCHF Forecast And Technical Analysis

Hi Traders! Today’s post is about GBPCHF short term forecast and technical analysis. As I do with every technical analysis post, multi-time frame analysis method will be applied in order to look for all the possible evidences that supports my view on the current trading timeframe and the higher timeframe. We will start our analysis from the highest timeframe now which will be the daily chart here.

GBPCHF D1 (Daily) Chart Analysis – Bollinger Bands 20 Candles Ride, Extreme Divergence, RSI, Stochastic Oscillator

On the daily chart we have 20 candles ride on the lower boundary of the Bollinger Bands which we may consider as an evidence of bullish pressure. In addition to this the price has created an extreme divergence on the histogram and the moving averages of the MACD indicator, also the RSI indiator and the Stochastic Oscillator has also reached their extreme we may consider these as evidences of bullish pressure as well. We may now move down to one timeframe lower and see if we have evidences supporting this bullish view.

GBPCHF Short Term Forecast And Technical Analysis

 

 

GBPCHF H4 (4 Hours) Chart Analysis – Bollinger Bands 20 Candles Ride, Extreme Divergence, RSI, Stochastic Oscillator, Uptrend Line

On the H4 chart too we have 20 candles ride on the lower boundary of the Bollinger Bands. Also the price has created an extreme divergence on the histogram and the moving averages of the MACD indicator, in addition to this the RSI and the Stochastic Oscillator has also reached their extreme we may consider these as evidences of bullish pressure. So the bottom line here is that we have evidences supporting this bullish view. We have a good uptrend line that has formed and the price is respecting it so far, until this uptrend line holds my short term view remains bullish here.

 

Technical Analysis & Forecast Summary

GBPCHF D1 (Daily) Chart Analysis

  • Bollinger Bands 20 Candles Ride, Extreme Divergence, RSI, Stochastic Oscillator

GBPCHF H4 (4 Hours) Chart Analysis 

  • Bollinger Bands 20 Candles Ride, Extreme Divergence, RSI, Stochastic Oscillator, Uptrend Line

 

Trading Tips

It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.

Also don’t forget to protect your sell trade using a stop loss and make sure to set a target and keep a proper risk reward ratio.

You will also find a pretty extensive database of educational materials here in the blog – just use the search or check out the Forex Education section above.

Not sure how to enter a trade? Spot reversals (bounces)? Not sure how to spot breakouts?

I invite you to join me in my live trading rooms, on daily basis, and improve your trading with us.

Join Traders Academy Club Now

Also you can get one of my strategies free of charge. You will find all the details here

 

If you have any further questions, don’t hesitate to drop a comment below!

 

Happy Trading!

Yordan Kuzmanov
Chief Trader at the Traders Academy Club

Click To Join Our Community Telegram Group

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments