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Double top for GBP/CHF

AdamFx42 Przesłano 13 Paź jako Analiza GBP/CHF, Cel: 1.5035, Data: 1 z Grudzień, 12:00 GMT  w #Technical analysis #GBP/CHF #Bearish Signals #Trendline Support #Double Top Weekly
Gbp/Chf has put in a double top that we can clearly see on the weekly chart,
the 61.8% weekly fibonacci expansion target is just above the top
and will probably not be challenged anymore, because price has started to move down
RSI is still strong, but MACD is flat on the weekly chart,
price will probably return to first (steeper) weekly trendline support,
but I believe this support line will be broken
Gbp/Chf Weekly Chart
On the daily chart we see that the price is moving down
The MACD has a bea…
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3 Komentarze
AdamFx42 avatar
AdamFx42 19 Paź

A strong move down has pierced first weekly support, but price still remains above it
A bearish weekly candle has been formed, though,
and the top seems firmly in place now

AdamFx42 avatar
AdamFx42 15 Lis

More Gbp weakness has brought the price to my target area - just 10 pips below it now,
Lower weekly trendline is being tested now as predicted - 1.50 is therefore support now
Prediction is spot on - I am very happy with this one

AdamFx42 avatar
AdamFx42 30 Lis

After moving up to around 1.52, price is moving down again - just below 1.51 now
60 pips above target

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Double Top on weekly chart for GBP/CHF

AdamFx42 Przesłano 18 Sie jako Analiza GBP/CHF, Cel: 1.5018, Data: 1 z Październik, 12:00 GMT  w #Technical analysis #GBP/CHF #Double Top #Head And Shoulders Lookalike Daily
Gbp/Chf has a double top in place now on the weekly chart
and a head and shoulders lookalike pattern on the daily chart points to the next target area
On the weekly chart we see the double top in place and the move down right now:
Gbp/Chf weekly chart
On the daily chart I spotted a lookalike head and shoulders pattern
with a neckline that lies pretty low,
giving the pattern - if it works - a target area of around 1.50,
this should be the next target for the move down of this pair:
Gbp/Chf daily chart
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3 Komentarze
AdamFx42 avatar
AdamFx42 3 Wrz

Price failing to move higher - which is good for my prediction
and indicates sell pressure - target still 100 pips below though,
but moving slowly and surely towards it - this I like best  :-)

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AdamFx42 8 Wrz

Price has hit my target  (too soon) ...

AdamFx42 avatar
AdamFx42 16 Wrz

bounce back up has left me 150 pips too high for now

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