Posts Tagged ‘gbpchf’

The easiest currency pairs to trade right now

Written by Raul Lopez on . Posted in Trades & Analysis

How is it going trader?

In what currency pairs have you been focusing lately?

Please don’t tell me that majors…

From the way I see it, most of the majors are trading not in a clear market condition… Specially the EURUSD. So please, stop trading them!

Expand your horizon, yeah, you’ll have to pay more spread, but the odds will be on your favor, and that’s what we are all after, aren’t we?

I would rather trade an instrument with a larger spread, but with a clearer market condition, than a currency pairs with a tighter spread and have absolutely no idea of what the market is doing…

Please tell me this makes sense…

Here we go…

email

GBPCHF: Bearish, looking for short opportunities

Written by Raul Lopez on . Posted in Trades & Analysis

After the wild swings we saw last Friday because of the NFP announcement, there are some good opportunities this week, one of those is the GBPCHF:

GBPCHF

GBPCHF

It is trading in a bearish market condition, just below the LT support level and below the ST range, meaning that only short opportunities are in play in the GBPCHF. We have plenty of room before it hits the next LT support level.

My Plan:

As long as the GBPCHF trades below 1.6745 I will be looking for short opportunities.

All long opportunities will be ignored

Trade Safe!
Raul Lopez

http://www.protradingnow.com/

GBPCHF: Interesting market condition

Written by Raul Lopez on . Posted in Trades & Analysis

Please take a look at the GBPCHF daily chart:

GBPCHF

GBPCHF

Interesting isn’t it? The GBPCHF is trading in a very well defined long term range, if you look at this in the weekly chart you’ll see it even clearer. What caught my attention though is the downward pressure present just at the top of the range. Right now we are already in a bearish market condition and I will be looking for short trade opportunities (until we hit the next LT level, but why not, I would be willing to hold my trade for the bottom of the range if there is enough momentum, it could take a while though… see how many days it took the GBPCHF to go from bottom to top?).

Anyway, I thought it was interesting…

Trade Safe
Raul Lopez

GBPCHF: Bullish, longs in play

Written by Raul Lopez on . Posted in Trades & Analysis

The GBPCHF traded near a long term support level (it even broke that level and traded in a bearish market condition for a few hours, but it is back now) for a few days but today it broke that range for the upside triggering a bullish market condition:

GBPCHF

GBPCHF

Now it is in a clear bullish market condition and there are quite a few pips before the market hits the next LT lvl.

My Trading Plan:

As long as the GBPCHF trades 1.6516 I will be looking for long opportunities.

All short opportunities will be ignored.

Trade Safe!
Raul Lopez

GBPCHF: Trading near an important lvl, need further confirmation

Written by Raul Lopez on . Posted in Trades & Analysis

The GBPCHF is trading around an important long term resistance level at 1.6698. If we take a look at the short term charts, we’ll notice the short term range the GBPCHF needs to break in order to start looking for a trade opportunity:

GBPCHF

GBPCHF

Once the market leaves that range, we’ll be ready to start looking for a trade, but first we need to make sure it is out of that range.

Here is my trading plan:

If the GBPCHF breaks through the short term resistance level and keeps trading above that level, I’ll start looking for a long trade opportunity. My next LT resistance level is at 1.6932.

If the GBPCHF breaks through the short term support level and keeps trading below that level, I’ll start looking for a short trade opportunity. My next LT support level is at 1.6490.

If the market keeps trading in between the short term range I will do nothing.

Trade Safe
Raul Lopez

GBPCHF: Looking for long trading opportunities

Written by Raul Lopez on . Posted in Trades & Analysis

The GBPCHF traded in a range in the last 4 or 5 sessions, near a long term resistance level. This means that the GBPCHF was making up its mind on the direction it would take in the following days or so.

GBPCHF

GBPCHF

But recently the pound-swiss broke is long term resistance level and now it is trading in a bullish market condition, meaning we’ll only take long trade opportunities. Also, the next LT resistance level is at 1.7159, so we still have a long way to go before we hit the next resistance level.

My Trading Plan

As long as the market keeps trading above 1.6667 I will be looking for long trading opportunities. All TP orders will be placed below the next long term resistance level around 1.7159.

All short opportunities will be ignored.

Trade Safe!

Raul Lopez

GBPCHF: Bearish market condition, short opps in play

Written by Raul Lopez on . Posted in Trades & Analysis

Even though today is a holiday in the US and Canada, and the volume is expected to drop down, we still have a few opportunities today, and one of them might be the GBPCHF. Just broke the long term support level and it will probably head down to the next LT support level:

GBPUSD

GBPUSD

It has clearly broken the long term support level at 1.6290

My Trading Plan:

As long as the GBPCHF continues to trade below 1.6238 I will be looking for short trading opportunities. All take profit orders will be placed above the next LT support level around 1.5906

Al long trading opportunities will be ignored.

Trade Safe!

Raul Lopez

GBPCHF: Hit TP and long term support level

Written by Raul Lopez on . Posted in Trades & Analysis

Last week, the GBPCHF was in a bearish market condition, we shorted the GBPCHF and it hit the TP order. But now what? It stopped at the long term support level. Please take a look at the next chart:

GBPCHF

GBPCHF

Now need to wait for the GBPCHF to either, break that LT support level or bounce back from it. In order to see what is more likely to happen, I recommend you to take a close look to the short term charts.

My Trading Plan:

Wait for the GBPCHF to give further confirmation about its market condition.

Good luck!

Raul Lopez

GBPCHF: Double top, bearish market conditions, shorts in play

Written by Raul Lopez on . Posted in Trades & Analysis

The last two weeks the GBPCHF has been ranging in a very tight range, being very difficult to trade or find low risk trading opportunities. But today, the GBPCHF is pretty close from breaking a major long term support level plus it already validated the double top in the daily charts, this puts us in a unbeatable situation where we can look for short opportunities, please take a look at the next chart:

GBPCHF

GBPCHF

Remember the double top has already been validated, so, short trades are in play, the next long term support level is at 1.6703, close to 500 pips from where the market is trading now, not bad ha?

My Trading Plan:

If the market breaks the long term support level, I will be looking for short trading opportunities. All my TP levels will be set above the next long term support level around 1.6700

All long opportunities will be ignored.

Good luck!

Raul Lopez

GBPCHF: Good trade setting up

Written by Raul Lopez on . Posted in Trades & Analysis

The GBPCHF is trading at a long term support level around 1.7220, when the market trades at an important long term S or R level, it usually trades in a small range until it breaks it and then reaches the next S or R level. Please take a look at the next chart.

GBPCHF

GBPCHF

The GBPCHF is trading in a short term range between: 1.7266 and 1.7189.

What is interesting about this charts, is that if the GBPCHF breaks the short term range for the downside, its next long term support level is at 1.6719, more than 500 pips… On the other side, if it breaks for the upside, its next long term resistance level is at 1.7492, around 250 pips above the current market action, so on both sides we have good possibilities.

Here is my trading plan:

If the market breaks the short term range for the upside (and continues to trade above 1.7266), I will look for long opportunities. The next LT resistance level is located at 1.7492.

If the market breaks the short term range for the downside (and continues to trade below 1.7186), I will look for short trading opportunities. The next LT support level is located at 1.6719.

Good luck

Raul Lopez

StraightForex
Raul Lopez Forex

Trading should be simple

I like to trade using simple tools such as support and resistance levels, candlesticks, price action and others. If you like simplicity, you'll love my Forex Coaching. Read more about me.

If you have any question about anything, please feel free to contact me at: info@straightforex.com or call +1 518 300 3828

StraightForex on Facebook StraightForex on Twitter Call me on Skype Grab my RSS StraightForex on Google+ StraightForex on YouTube