GBPCHF is only for a few traders?

Good trading to you..I hope I am wrong...


Quote from romik:

I am looking at 3 week resolution to this trade, it's tough to call time targets though ~150-250 pips targeted
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What do you guys think on EUR/CAD? Clearly it's been trading in this 1.51-1.53 area for awhile. This means it will obviously break from this range at some point...so looking at the weekly chart I could see it going either way, but I'd be leaning more toward the short side based on how it's acted in the past. There is a lot of 'open air' under the current range. I think if it ultimately decides to keep moving up it will have a tougher time.
 
I cannot tell a direction.... with my methods...sorry. Maybe Romik knows.


Quote from redbull13:

What do you guys think on EUR/CAD? Clearly it's been trading in this 1.51-1.53 area for awhile. This means it will obviously break from this range at some point...so looking at the weekly chart I could see it going either way, but I'd be leaning more toward the short side based on how it's acted in the past. There is a lot of 'open air' under the current range. I think if it ultimately decides to keep moving up it will have a tougher time.
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Quote from redbull13:

What do you guys think on EUR/CAD? Clearly it's been trading in this 1.51-1.53 area for awhile. This means it will obviously break from this range at some point...so looking at the weekly chart I could see it going either way, but I'd be leaning more toward the short side based on how it's acted in the past. There is a lot of 'open air' under the current range. I think if it ultimately decides to keep moving up it will have a tougher time.
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Monthly & weekly look bullish, it's all relative to what time you are willing to dedicate to this trade. What I did notice is that price's broken a weighted resistance level & has been providing good short term trades both buying & selling it depending on price action. I would just continue trading shorter TFs round that level on both sides & when daily shows signs of being oversold (as IMO it's neither here nor there) go Long upon a break of that previous resistance now support level. But all good, if that's how it play out :)
 
2nd attempt to break weekly now support 2.3916. 240 min chart also features a H&S pattern and my short should benefit further from a possible break of ~2.3800
 
Quote from romik:

2nd attempt to break weekly now support 2.3916. 240 min chart also features a H&S pattern and my short should benefit further from a possible break of ~2.3800
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meant to be ~2.3880
 
Quote from romik:

Short GBP/CHF 2.3982
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in line with expectations so far, RSI/MACD looking good, 2.3916 (weekly) support broken & now temporarily became resistance, 2.3867 (previous weekly support) is providing support at the moment. Considering chart formation on 240 that level should not be an obstacle, temporary at best. Also H&S's support line has been broken, but waiting for bar to close below it.
 

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