GBP/CHF break of trendline buy opportunity

30 Oca 2017

This pair has broken above key weekly resistance which is now acting as support. This area is confluent with a third touch of this ascending trendline and the 61.8 fibonacci level. Prices are now retesting the counter trendline and if we see bullish price action i will enter long with first target at the 27% extension fib level (1.2715) for 2:1 risk/reward and second target at the 61.8% fib extension level (1.2800) for 3:1 risk/'reward

30 Oca 2017

Not

Price has broken below the ascending trendline and is attempting to break back below key weekly support

30 Oca 2017

Not

I will look for short opportunities if prices hold below the weekly level