Hello Guys:
- GBPCHF may go in a bearish movement, we can see here that the price breakthrough to the HTF correction and form many continuation correction along the way.
- I would like to see a development in LTF a continuation correction to confirm my entry
- In the Htf the price aggressively move downside when it reaches the 1.100604
- In LTF small continuation correction is form
- Right now what i would like to see is a beakout correction to confirm its continued move to the downside.
-We can see here the price broke out of the previous correction and made an impulse down
- We can also see that a possible continuation correction is form i belived that this is a very clear indication that the price will move to the downside hitting the previous low
- NOTE: Proper risk management is a key even though it has many confluences nothing is certain
1. In the HTF we can see a possible bullish flag however im not completely sure that its complete
2. In the LTF a correctin after impluse happped indicating that it can go long
3. Its much better to wait for a impulsive breakout and continuation correction to form.
1. We can see the price made an impulsive move to the downside
2. However the HTF pattern is a continuation correction, we may conclude that the bearish move is still part of the HTF continuation correction
3. The best decision i see so far is to wait for continuation correction to the downside and take breakeven if possible
1. In the HTF the price sharply go to the upside we can see that a possible continuation correction are forming
2. The LTF correlates to the HTF bias we can the price hit the Lower Low of the HTF continuation and impulsively go to the upside.
3. In the LTF continuation correction a good confirmation
1. In the 4h chart we can see the price may form a continuation correctiion
2. We can also see in the LTF an inverse Head and Shoulder
3. Its possible the price will go to the upside until it hits the previous high
1. We can see in the HTF the price is making a possible continuation correction to the upside but it may possible that the correction will continue deeper. Caution is advice
2. There is significant patterns that we see, Double bottoms and inverse H and S is a good confluence to the overall bias
1. WE can see in HTF the price is impulsively moving to the upside while making small corrections along the way.
2. In LTF we can see price is in an impulsive phase.
3. We can also see an incomplete ascending channel
4. So we can expect the price to go long but we need to wait for a continuation correction for a confirmation
