Gbp/Chf Daily Trade Setup

There is a trade setup forming on the GBPCHF currency pair, You can see that we have reached daily support several times previously and that price range has held in place on each occasion. The key area of support is 1.5800 area which the bounce off this area is the basis of my trade. I may be entering this trade on the open depending on how the price recacts on the open. Follow me on twitter to get my exact entry time.

Look at the chart below for all the details.

Aug 29th

Aug 29th

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  • Yes but the support is strong and so far the trade has worked great 🙂

  • Thanks Darryl

  • Darryl

    You’re right Thomas (imho) a counter trend. Seeing those failed bottoms helps to inspire me. I have 4 positions on this one, the 1st @ 1.5890. All looking good for now. Am looking for some resistance now (1.6000) and around 1.6150. Looking for price to go to 1.6300 to 1.6500. On my 4hr (gmt) price has closed above a double Trend Line. That in itself should be enough to get price to 1.6150. (once again imho!) Thanks Casey