GBPCHF

As there is little coverage of this pair on here, I am starting this thread as the gbpchf seems quite interesting at the moment.

Overall, my opinion is that the gbpchf is on a downtrend in the mid to long term.

After the up move yesterday, I believe it is time to be looking to short this again.

I have already shorted with a stop just above 20780. Confirmation of the downtrend in the short term would be around 20655.

Ok, happy trading everyone!

Looks like consolidation to me... perhaps a broadening formation, but I can't really tell. Whether it'll break bearish or bullish... no clue, but I'll be sure to ride it either way once it makes up it's mind.

..now I have place to posted my trade of the day.. lol..ignore me folks, im not overjoy..it just another trading day like usuall.Happy trade.

About the gbp-chf..this is another beast.most of the time act more beast than the geppy--the one that called by another trader as beast--lol..I assume they never look this gbp-chf

PS:the trade hit TP @88 .i Just save the pic from my blog as record of my progress.

Thanks for starting this thread, I was considering starting one for this pair as well. This has been one of my favorite trading crosses of 2008, a literal pip printing press.

Attached is a zoomed out 4-hour chart of the past 2 months. As you can see, from 1/16 - 2/27 it was caught in a great 550 pip range which it tested an astonishing nine times (Ferris Bueller anyone? ). When it finally broke on 2/27, a sell stop entry, with a SL above resistance and a 100-pip trailing profit stop, was good for nearly 700 pips!

Since 3/3, a new 200-pip wide channel range has formed, although it's had a couple of headfake breaks the past few sessions. I'm currently short from a re-entry of the 2.0710 level, trailing at +50, looking for a test of support at 2.0515 to flip and go long.

much of the same for me at the moment, staying short this market, moved my sl to 20620, open tp

I thought I would update my short term view for this pair
using Trader KGB's chart

link:
http://bp0.blogger.com/_soa35Q8-2NA/.../kgb.gchf2.GIF

hhhh

GBPCHF has broken resistance at about 1.99 and is going up - I wonder how far it will go before heading south again.

Hmm If gbp-chf break 2.000 then the trend will change.As for this price zone is a critical zone now (1.9940-1.9999).can go both side.So be carefull.IMO

I think the trend is still down unless it breaks the 20500 area..

At this moment the pair is so reluctant to go down.
this is going to be the 12th straight bullish candle on hourlies.
and the bad news for bears is that 50 EMA on hourlies was broken few hours ago as well...
2.0035 is the daily resistance and that level should be decisive.

ok, what i'm saying is, is that the short term trend is up, but for the bigger trend, it is still down unless it breaches the 20500 level

All of the major pound moves from monday are retracing. We're at about the 50% level now. I don't anticipate a major trend reversal, but I do anticipate another large downside movement probably sometime later this week, maybe as early as tonight or tomorrow, once it's all done. The 50 SMA/EMA on the 4hr tends to have more strength than the 1hr, so keep an eye on that.

Trades closed for now... big news soon.

It made a great attempt at closing the weekend gap, but ultimately failed. Going to wait for another retest and look to enter short.

Its looks like the news from the US is positive and world markets are being stimulated again (just look at usdjpy), and for now the carry trade is on again.
I'm long with a target of 2.0450

I like to trade this pair using an hourly chart with a 5 and 13 ema.

I look for an initial move, a pull back, and then a breakout past the most extreme point of the initial move.

Some call this a 1-2-3 and some call it a peak and valley.

An easy way to make this trade entry and exit concrete is:

1. use a cross of the 5 and 13 to signal the initial move

2. for a pull back, wait for the body of a closed candle to touch the 13 ema

3. then for a breakout (Entry), wait for price to breakout of the most extreme point it made earlier during the initial move

i use a 50 pip stop, trailing, and a 95 pip limit

i get about 80% win rate


once price gets close to the entry point, after meeting the first two conditions, you should set your entry order to happen automatically so you don't miss the entry - once it hits that point it is moving quickly

it is best if this entry happens during the euro market hours

Hello, everybody!
I won't make calls, i'm analizing!
The oncoming BOE meeting will bring us a 25bp cut rate,concerning the economist prediction. That is a sure weekness for pound.
From the technical view i see a clear hidden bearish divergence on 1hr USD/CHF chart. The price made lower high and the oscillator(in this case stochastics) made higher high! And thats a perfectly made HBD(hidden bearish divergence) Also, the 25ema showed a good resistance and while it is strong we can count on it.
thanks,

chart

looking for short entry
still waiting for confirmation

Hi Ultraman,

Can you suggest a suitable entry for a short gbp/chf please. thanks