Technical Analysis – GBPCHF Short And Mid Term Forecast

0
81
GBPCHF Short Term Forecast Follow Up and Update

Hi Traders! GBPCHF short and mid term forecast is here. We do our analysis on the MetaTrader4 platform (MT4). Some very interesting, useful tips and hacks about the MT4 platform could be found here. If you would like to learn more about the way we trade and the technical analysis we use then check out the Home Trader Club Spoiler alert – free memberships are available! 

GBPCHF H4(4 Hour) Chart Analysis – Bullish Trend Pattern, Key Resistance Zone, Bearish Divergence

On the H4 chart, the price which is moving higher has created a bullish trend pattern in the form of three higher highs, and higher lows, we may consider this as evidence of bullish pressure. Generally, after a bullish trend pattern, we may expect corrections and then potential continuation higher. In addition to this, the price reached a key resistance zone that has formed based on the 161.8%(1.13839) Fibonacci expansion level of the first wave and the 61.8%(1.14126) Fibonacci expansion level of the second wave. Also, we have a bearish divergence that has formed between the first high formed at 1.13736 and the second high formed at 1.14293 based on the MACD indicator which we may consider as evidence of bearish pressure. So based on all this, my short expectation is bearish and my mid term expectation is bullish here.

 

Technical Analysis – GBPCHF Short And Mid Term Forecast

 

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 short-term sell and mid-term buy setup then you can use any setup and strategy that you have in your arsenal to look for bearish and bullish moves and join this sell-and-buy trade.

Also, don’t forget to protect your 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 Home Trader Club Now

And improve your trading with us.

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

Download our best forex indicators here

 

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

 

Happy Trading!

Arvinth Akash
Home Trader Club Team.

Click To Join Our Community Telegram Group

Advertisement

How to Invest in Amazon

4 Advantages of Amazon Investing - Read More

  • Amazon’s net a bullish 450% 5-year gain
  • Amazon’s ROI is 6x’s the S&P 500 Index of 67%
  • AMZN shares may hit +$10,000 by mid-November 2024
  • Amazon’s growth since IPO tops more than 12,000%

Now is the time to invest in Amazon

Subscribe
Notify of
guest

0 Comments
Inline Feedbacks
View all comments