Wednesday, March 19, 2014

4 reasons why Gbpchf could be bullish

I have been watching this pair for some time and I think it has fulfilled my 'righteousness' enough to consider for a buy.Here are my reasons
1. A successful bullish gartley pattern formed

2. Pattern confirmed by an engulfing candles formation which also contain a bullish reversal pin bar, though the day is still open

3.The gartley formed at a reversal trendline support region

4. The oscillator trending up from an oversold region

These are more than enough reasons to consider a buy, though 1.4640 could act as a barrier.  

consolidation could happen there before the price move to 1.4850 which is the ultimate target

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