GBPCHF - Long
Hey guys, I'm on the charts right now and i'm looking at GBPCHF on a 1 hr time frame, price is at a level of support and is making a drawback right now and indicates to me as a market reversal
If you look back at what the market did previously, it made drawbacks so it gives me a good confirmation, I used a retracement to look at good levels and the fibo 0.786 seems to be a level of support once it reaches it, the following level 0.618 seems like resistance but price didn't even touch that zone so this can be a short buy, then sell.
Parabolic SAR also says to buy and sell around that area. This is my analysis, please do research. Just sharing to helpe everyone make more money.
If you look back at what the market did previously, it made drawbacks so it gives me a good confirmation, I used a retracement to look at good levels and the fibo 0.786 seems to be a level of support once it reaches it, the following level 0.618 seems like resistance but price didn't even touch that zone so this can be a short buy, then sell.
Parabolic SAR also says to buy and sell around that area. This is my analysis, please do research. Just sharing to helpe everyone make more money.
Trade closed: target reached
Target was officially reached.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.