Dear Daily Price Action Setup Traders,

Yesterday’s signal has been triggered successfully. The price has just touched the trigger and has gathered some new buyers. The trade from Monday has increased in value, as well. In total, the week so far has shown some very good gainers and just one looser- GBP/NZD. Let’s turn our attention to another trading idea for today…
Today’s signal is coming from the GBP/CHF pair. I like this signal for a couple of reasons.First of all, it has successfully tested the 1.5100 support level.¬†Secondly, the daily candle is a pin bar shaped candle that is actually engulfing the previous day’s candle. We have seen some renewed buying interest in the past few trading sessions, but it is still early to say whether we can see the pair breaking through the 1.5500 resistance area. But anyway, the parameters for this trading idea are bullish and they are the following:
Long entry level at 1.5225. The stop for this trade should be placed just under 1.5095. Traders should be
targeting initially 1.5350. The next target is the level of 1.5500.
Happy Trading,
Colibri Trader