Hey Guys,
Based on the chart, there is a good sell opportunity on GBPCHF. But let check the chart and see what is happening right now:
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1. False Breakout happened on a uptrend channel -- Based on the candlesticks (Bearish)
2. Price is in a downtrend (Bearish)
3. Price reached a resistance area and rejected strongly (Bearish)
4. Hidden divergence on RSI(14) (Bearish)
5. Price reached to 0.5 Fibonacci (Bearish)
6. Small uptrend channel not broken yet! (Bullish)
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So Based on the top scenarios, I have bearish bias about the next movements of price which can also have a good risk reward raio. But considering risk management rules in a necessity and have not be ignored.
But let's see what do you think about GBPCHF on H1 timeframe. Are you bullish or bearish? - Please write your ideas on the comments.
Any idea is valuable for us!
Thanks for being and supporting us.
Good Luck!
Based on the chart, there is a good sell opportunity on GBPCHF. But let check the chart and see what is happening right now:
-----------------------------------------------------------------------------
1. False Breakout happened on a uptrend channel -- Based on the candlesticks (Bearish)
2. Price is in a downtrend (Bearish)
3. Price reached a resistance area and rejected strongly (Bearish)
4. Hidden divergence on RSI(14) (Bearish)
5. Price reached to 0.5 Fibonacci (Bearish)
6. Small uptrend channel not broken yet! (Bullish)
---------------------------------------------------------------------------
So Based on the top scenarios, I have bearish bias about the next movements of price which can also have a good risk reward raio. But considering risk management rules in a necessity and have not be ignored.
But let's see what do you think about GBPCHF on H1 timeframe. Are you bullish or bearish? - Please write your ideas on the comments.
Any idea is valuable for us!
Thanks for being and supporting us.
Good Luck!