ANALYSIS ON GBP/CHF, 4H
Looking at the chart on a H4 time frame, There is a support level holding at 1.8399, Which helped in forming a descending triangle indicating that price can either be bullish or go bear.
The price broke to the down side and has just recently retraced back to the support level now turning to a resistance.
Price has been bearish progressively in the pitchfork also and currently, price is retesting at exactly 78.6 fibonacci extension level.
Anticipating price to break through the 1.17464, extension level and retrace back there before confirming and following the bearish movement.
MACD is also loosing momentum and a turn around is anticipated soon.
Tweezer top formed also at 1.8399
GBP/CHF-
Entry- 1.17464
SL- 1.18117
TP- 1.15679
p.s
Trading acording to this is at your own risk
The price broke to the down side and has just recently retraced back to the support level now turning to a resistance.
Price has been bearish progressively in the pitchfork also and currently, price is retesting at exactly 78.6 fibonacci extension level.
Anticipating price to break through the 1.17464, extension level and retrace back there before confirming and following the bearish movement.
MACD is also loosing momentum and a turn around is anticipated soon.
Tweezer top formed also at 1.8399
GBP/CHF-
Entry- 1.17464
SL- 1.18117
TP- 1.15679
p.s
Trading acording to this is at your own risk
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