BULLISH SWING OPPORTUNITY IN GBPCHFSo previously we have had analysis on H4 timeframe for a price retracement.
The price of ICMARKETS:GBPCHF is behaving exactly the same and formed a great Bullish Hammer at strong support level.
When we come on hourly timeframe we witness that the price is in oversold area from where the buyers will take control to move the price into 1.0810 - 1.0828 area.
Our buying strategy is simple. We placed a buy stop order at the Lower High at 1.0750 with a stop loss at 1.0708.
I am Taking a 42 pips risk with reward of 50 pips (even more can be taken but my TP is at 1.0800 level to be on the safe side.
Hence
Entry (Buy stop): 1.0850
Stop Loss (42 pips): 1.0708
TP (50 pips): 1.0800
Long
