Monday, July 7, 2014

Why Selling GbpChf is not a bad Idea.

This bearish run on this pair is imminent and it's just a matter of time. With mouth-watering patterns forming, potential pips are to be made shortly with the weekly, daily and 4hourly charts embracing the bears.

On the weekly chart, a successful BAT has just been concluded just at the roof of a strong resistance trendline.

On the daily, a bearish BUTTERFLY is completed with an engulfing bearish candlestick pattern forming.

The terminal zone ( 1.5280-1.5380) is a very strong price reversal zone.
In the analytical chart shown below, I analysed with the D1 chart only in order to see a PICTURE ( how a BAT  is pregnant of a BUTTERFLY) and all these are happening at the roof of a channel. Thinking bearish in this case isn't bad at all.

Going by the 4 Hour chart, an end of wave 5 Wave-pattern has been successful at the same resistance level afformentioned. and unsurprisingly, 4H has responded to the bears in its own way waiting for the big boys to join the move to provide an explosive run before the bulls will wake up, if they wake at all.

With all these, I see price coming to 1.5185 ( short term), 1.500,1.4920 and 1.4816 before the bullish would gather momentum to counter the move. If the rising pink trendline on D1 is broken down-side, price could be broken loose to 1.4150 and below. It's just a matter of time.

NB: This analysis is long term and care should be taken in interpretation. You can drop your comment or mail me if you have any question . Please this is for educational purpose and should not be taken as a call for trade.

Please let me know if this blog has been helping someone by your comments  and you can also contact me if you need a trading partner,mentor or fund manager
E-mail-sanmiadeagbo@yahoo.comFacebook- sanmi Adeagbotwitter- ForexelytePhone no: (234)08134820569

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