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Gbpchfbuy

GBPCHF Long (Mean Reversion) with 3X Potential Reason List of Reasons for potential pull back/mean reversion: 1: The market is over extended and has been moving bearish for almost 3 weeks straight with no pull back. This is more visible on the weekly chart than on the daily chart. 2: The trendline on the daily chart was broken with no retest. 3: Month Support level was broken with no retest around the 1.25*** area Summary: The trade has the potential to be a 4:1 RR or more abut this will depend on how deep the pull back is. Targets are set using fib tool. We also have to wait for the market to change from bearish to bull which will be visible on the H4 and Daily chart. Once the market turn bullish, we will then be able to determine the correct RR of the trade. The trade will be left to run until the target is reached or between 5 to 10 trading days, whichever comes first. Those who plan to sell the market in its current state must be very careful as smart money might close short some positions on the pair, forcing price to turn bullish, allowing them grab some liquidity.
Long
by NDOBObanks
GBPCHF - Watch This Fly! 🔥GBPCHF has approached a level that we have been waiting for. Everything is lining up for a really nice long term swing position to push it up more than a 1000pips. We have the 50 fib, major trendline support, descending correction support. Trade idea: Watch for a clear bounce and then enter with stops below the major trendline. First target (channel resistance): 300pips Second target (recent highs): 680pips Third target (-0.27 fibonacci target): 1,000pips Goodluck and trade safe!
by WicktatorFX
75