GBP/CHF analysis with trading notes ( a buy view )

24 Jun 2022

GBP/CHF have been consolidation in the monthly time frame between the two price levels of 1.3632 and 1.1733 , and as you can see in the monthly attached chart the price did touch the demand zone at 1.1733 more than 3 times and failed to break under it making it a crucial strong zone that we can’t ignore.

The previous monthly candle ( the one in circle) closing above the demand zone with that huge wick if another technical prove of how strong this monthly demand zone is .

With the price coming back to this same demand zone again if you take a look at the 4h time frame attached chart you can see the 4 hours candles closing just above our monthly demand zone and this is shows as an early sing of sellers exhaustion and do we are expecting buyers to enter from this same zone to pump up the price.

In the smaller time frame such as 4 hours time frame and the hourly time frame the price is trending down which mean entering a buy from the current position is considered as trading against the trend but with the mentioned confirmations that I presented to you above I am personally taking a buy from the current price at 1.1783 and aiming for a first target at 1.1834 (52 pips) , if the price reaches the first target I’m whiling to close half of my traded lot size , move my stop loss to break even and to scale for more pips to the second target at 1.1881 ( 95 pips) and if the price goes beyond that than I’ll keep on scaling until the final and last target at 1.1951 (166 pips). For the stop loss I’ll be placing it at 1.1682 ( 100 pips ) so the trade get enough space to breath and doesn’t stop out earlier .

That’s it for this pair analysis I hope all the instructions are clear , if you find the analysis of use and value please do support it by liking and commenting bellow as it gives me the mental boost to keep me more invested in here with you guys with more posts alike , and if you are new visiting my profile make sure to follow me so that you get the notifications in time whenever I post and that you don’t miss any future posts or trading opportunity .

I will see you soon in the next post have a safe trade guys.

28 Jun 2022

Catatan

the monthly demand level didn't hold and the seller pressure was too strong , the trade setup was a buy in a counter trend and didn't go well .