GBP/CHF, before & after
📠 Signal Number:14
GBP/CHF ** SELL
🌷🎓Waves ScoUt Forex🎓🌷
SL : 1.2513 Risk 42 pips
TP : 1.2706 3Reward 152 pips🎯
1000$ with only 0.01 volume
Review of euraud analysis based on Price Action, Elliott and Kendall Stick
1- Price Action Analysis:
It has been in a rising price since 5/24/2021, and in this uptrend, which is in a uptrend line, it has hit this resistance line 3 times and has had a big drop each time.
The second time on 20/7/2021, he encountered this very strong resistance line.
And now it is at the price of 1.6195, at which I entered the sale.
With a stop of 1.9233, it is suitable for sale, and with a target of 1.5815, which in this signal, if 100 pips is in profit, please put the stop at the entry price.
- Elliott analysis:
According to Elliott analysis, in wave b there is a stretched plate that has returned to 127% of wave a until now, and the beginning of wave c is that plate which will return at least 138% of wave b.
3- Candle stick analysis: In 1 hour, we see candles with long shadows
The British Pound vs. Swiss Franc cross is a lower volatility pair that is tempered by the currencies’ economic and geographic proximity. The British Pound is one of the premier reserve currencies and represents the world’s largest financial center. In turn, the Swiss Franc is used as a reserve currency around the world and is currently ranked rarely 5th or 6th in value held as reserves after the United States dollar, the euro, the Japanese yen, the pound sterling and the Canadian dollar.