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GBPCHF Price Action Analysis – 31st July 2017
GBPCHF has been bullish on the H4 chart. The price has kept making higher highs. As things stand with the pair, there is a lot of room for the price to go towards the North. Thus, eying on the pair to take a long entry would be a good idea. Let us have a look at the H4 GBPCHF chart…
GBPCHF Price Action Analysis – 31st July 2017
Have a look at the chart and the price action. The H4 candles kept going towards the upside. On its way, it broke some important levels of resistance as well. The level of 1.26330 is a level, which might become the level of flip over support. If it does and produces an H4 bullish reversal candle, then the price would go towards the North and make a new higher high by offering us a long entry.
Let us have a look at the summary of the trade
- Buy Limit Order: 1.26330
- Stop Loss Level: 1.25500
- Take Profit Target: 1.28200
- Validity: 72 hours
- Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable
Since this trade setup is on the H4 chart. Thus, it might take time for the price to produce the signal. Moreover, it is the last day of the month and tomorrow is going to be the first day of August. Thus, the market might experience less liquidity today and tomorrow, which would make the pair sluggish. Nevertheless, keep your eyes on the chart, especially after every H4 candle. Do not be surprised if the signal comes after 8-10 H4 candles.
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We hope that you enjoy our Free Forex Trading Signal today: AUDJPY Price Action Analysis – 28th July 2017
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