đđĄ "GBPCHF Forex Analysis: Insights & Strategy" đđ
đ”ïžââïž Let's analyze the GBPCHF forex pair for trading in futures.
đ This currency pair is mostly bearish in higher time frames and cycles, indicating the recent weakening of Great Britain over the past few years just from the chart.
đȘ In the 4-hour timeframe, we've had an uptrend and reached a significant resistance in the daily and weekly range around 1.14731, and we're currently reacting to this resistance.
đ° For a long position, our resistance is identified, and after breaking the line at 1.14731, we can consider opening a long position. However, note that since we're breaking a weekly resistance, we should place a large stop-loss around 1.13740.
đŻ For a short position, we have an uptrend line that is of the continuation type, and after breaking this trend line, even without a trigger and with candle confirmation, we can open a short position. But for better confirmation, after breaking the trend line and the 4-hour support at 1.13740, you can open your short position.
âŹïž Let me explain briefly about trend lines here. We have two types of trend lines: continuation and reversal.
đ The continuation trend line is when our main trend is bearish, and we're in a correction, moving on an uptrend line. With this type of trend line, we can open a position just by breaking the trend line without considering a trigger, solely with candle confirmation.
đĄ However, the reversal trend line is when our main trend is bullish, and we have an uptrend line. If this line breaks, there is a possibility of a trend change or short-term correction, and we need a trigger for confirmation to open this position.
đ If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you! đ
â ïž Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
đ This currency pair is mostly bearish in higher time frames and cycles, indicating the recent weakening of Great Britain over the past few years just from the chart.
đȘ In the 4-hour timeframe, we've had an uptrend and reached a significant resistance in the daily and weekly range around 1.14731, and we're currently reacting to this resistance.
đ° For a long position, our resistance is identified, and after breaking the line at 1.14731, we can consider opening a long position. However, note that since we're breaking a weekly resistance, we should place a large stop-loss around 1.13740.
đŻ For a short position, we have an uptrend line that is of the continuation type, and after breaking this trend line, even without a trigger and with candle confirmation, we can open a short position. But for better confirmation, after breaking the trend line and the 4-hour support at 1.13740, you can open your short position.
âŹïž Let me explain briefly about trend lines here. We have two types of trend lines: continuation and reversal.
đ The continuation trend line is when our main trend is bearish, and we're in a correction, moving on an uptrend line. With this type of trend line, we can open a position just by breaking the trend line without considering a trigger, solely with candle confirmation.
đĄ However, the reversal trend line is when our main trend is bullish, and we have an uptrend line. If this line breaks, there is a possibility of a trend change or short-term correction, and we need a trigger for confirmation to open this position.
đ If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you! đ
â ïž Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.