GBPCHF Trading Setup

The last EURUSD trade (and its update) have nothing in common with this GBPCHF trading setup. IF you have missed out the last two trading articles- you should definitely check them out- they were quite educational if nothing else:)

GBPCHF Trading Setup

Daily Chart 

Today’s trading setup is coming from GBPCHF. This is a more volatile pair and that is why I have not covered it for a long time. I don’t usually trade it, but the price action seems really good. The daily chart (that you can see on the top of the post) is showing bearish signals. Thursday’s candles was a bearish engulfing candle. Friday’s candle is confirming the bearish bias in the market participants. GBPCHF Trading Setup


Weekly chart 

When we expand the view and go to a weekly chart, the scenario is the same. By looking at the second chart here, you can see what I mean. There is a bearish engulfing candle on the Weekly chart, too. This is showing the bearish mood of the market participants. Taken together with the overall down trend, this is a good setup for a short position in the long-term.


GBPCHF Trading Setup


4 Hour Chart 

The intraday chart is equally bearish. We have a major resistance area rejection. The R1 and R2 are the minor resistance levels that I expect the price to bounce back. There would be good entry levels that I will be looking to possibly go short. It all depends on the price action, but this could give us an opportunity for a good short trade. I am looking at the long-term and it seems like a good trade to start the week with. I will be still paying attention to the open and decide what to do.



Happy Trading,

Colibri Trader


If you have any questions, send them directly to me at Alternatively, you can comment below with your suggestions or questions. You might also want to check out my recent article on Zen Trading with Jesse Livermore.


(Visited 449 time, 1 visit today)