It seems like GBPCHF is forming a cup and handle pattern, and as you can see on the chart, there are some indications that we might be at the bottom of the handle :
1. ABCD retrace from the recent high in the weekly chart and the daily chart
2. weekly candles closed above the channel ( channel break )
3. we are currently in support zone 1.2500
4. immediate reject of 1.2500
5. yesterday closed green and it seems like today will be closed green too
So in this situation I'm aiming to catch the weekly swing by building a long position gradually to reduce risk.
best of luck :-)
1. ABCD retrace from the recent high in the weekly chart and the daily chart
2. weekly candles closed above the channel ( channel break )
3. we are currently in support zone 1.2500
4. immediate reject of 1.2500
5. yesterday closed green and it seems like today will be closed green too
So in this situation I'm aiming to catch the weekly swing by building a long position gradually to reduce risk.
best of luck :-)
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GBP INDEX
