GBPCHF: Multi Time Frame Analysis & Trading Plan

6 thg 7, 2020

hey guys,

GBPCHF is trading above a key daily structure resistance 1.175.

on 4H the price is contracting within a falling wedge pattern and it looks like soon the above-mentioned structure will be retested.
it will most likely trigger a buying reaction and will give us a perfect opportunity to jump in.

for confirmation, we will wait for a bullish breakout of a falling wedge on 4h (candle close above).
if this condition is met, the price will most likely start growing.

the initial target will be (but remember that we have a great potential for further continuation):
1.182


in case of a bearish violation of the wedge, setup will be invalid.