If you like range trading, you definitely need to take a look at the GBPCHF, it is trading in a very well defined 1H range:
It just got rejected from the bottom of the range, guess where it is heading? Yep, it is likely to continue its way up until it reaches the next short term resistance level (upper green level) at 1.4751.
Trade safe and have a great weekend!
Raul Lopez
Forex Course
Did you trade the USDCHF yesterday? Let me know if you did…
Another pair that I’m closely monitoring is the GBPCHF, as the USDCHF, it already broke through an important resistance level and it is likely to continue its way up, see it for yourself:
If it continues to trade above the pivot point, I’ll keep looking for long opportunities.
What do you think? Are you monitoring this one? Please comment if you are.
Trade Safe!
Raul Lopez
Forex Training
I hope you all had a great weekend!
Last week I wrote about the GBPCHF, it is clear that It’s trading in a bearish condition and I was waiting for a retracement before taking my trade, and guess what? That has just happened. I liked the way it has been bouncing off the ST resistance level, this is what makes this a great opportunity, on the long term charts it’s bearish plus on the short term charts a clear resistance level equals to: LOOK FOR SHORT OPPORTUNITIES:
Here are the details of my trade:
Entry: 1.4387
SL: 1.4437
TP: 1.3839
Make your math on the risk-reward ratio and let me know what you think.
Trade Safe!
Raul Lopez
Forex Course
Last week the GBPCHF broke through an important ST support level, triggering a bearish market condition. What I like about it now is that the ST resistance level is still holding, and I’d say its safe to look for short opportunities around that level:
I’ll wait for a retracement to the ST resistance level, if it does retrace and forms a significant pattern with downward pressure, I’ll be short!
Do you agree with me?
Trade Safe!
Raul Lopez
Forex Course
Last week I wrote about the GBPCHF, since the Bank of Switzerland intervention I haven’t traded this one, but right now, it is certainly shouting “short me” (at least that’s what I see, do you see something else?)
It traded for a while in a short term range around an important long term level, but earlier this morning it broke the lower extreme of the range. This triggered a bearish condition and it is more likely to reach the next LT level, which is at 1.3809:
My plan is:
Wait for the GBPCHF to retrace back to the ST resistance level (green level), if it forms a significant pattern with downward pressure I’ll go short.
Trade safe!
Raul Lopez
Forex Course
It’s been a while since the last time I placed a trade in the GBPCHF, I didn’t like the way it traded after the Bank of Switzerland intervention, it looked as if it was nervous, hesitant, etc. But now it looks a little different, consistently trading in between clear LT support and resistance levels, on the short term charts it is trading in a clear short term range, etc.
Here is the ST chart:
So basically what I’m waiting for is for the GBPCHF to break the short term range:
So its not ready yet, but I’ll soon…
Have a great week ahead!
Trade Safe!
Raul Lopez
Forex Training
All these crosses are trading in a very clear bearish market condition, and I will be looking for short opportunities and all of them. But you need to remember something, all of them have a degree of correlation, so although I’m looking for trade opportunities on all of them, I will only trade one.
What happens if I take a trade on two of them? I’m likely to get the same result on both of them, and I wouldn’t mind if the market goes on my favor, but what would happen if the market goes against you? I’ll be risking more than I’d like to on a single currency.
That’s the reason I recommend to trade only one of them!
Are you trading these crosses?
Trade Safe!
Raul Lopez
Forex Training
Earlier today, the GBPCHF broke through the ST support level triggering a bearish market condition, it also broke the previous low and now it is trading around historical lows. I’m currently looking for short opportunities in the GBPCHF:
As long as the GBPCHF keeps trading below 1.3267 I’ll be looking for short opportunities. If I go short, since there are no further LT support levels, I’ll use a 3:1 risk reward ratio.
Trade Safe!
Raul Lopez
Forex Courses
Its clear that the GBPCHF is trading in a bearish market condition, the evidence: trading around historical lows. Earlier this morning it broke through an important support level and retraced back giving me a signal to go short:
Here are the details of my trade:
Entry: 1.3321
SL: 1.3387
TP: 1.3107
I’ll feel more comfortable once it breaks the ST support level… and even more comfortable once it hits my take profit order 
Trade Safe!
Have a good week ahead!
Raul Lopez
Free Forex Education
I was waiting for the GBPCHF to break the support level of the short term range in order to start looking for short opportunities:
And guess what, it broke the support this morning.
It is trading at historical lows and obviously I’ll keep looking for short opportunities using a risk reward ratio of 3:1 on my trades.
Trade Safe!
Raul Lopez
Forex Training
The order in the GBPCHF has been cancelled, the market closed below the pattern that triggered the long signal.
Will keep you posted tomorrow about other signals.
Trade Safe!
Raul Lopez
Forex Training
The GBPCHF is trading in a clear bullish market condition, therefore only short opportunities are in play. It is also trading above every important level in the short term charts. Earlier today it retraced back to the ST support level and formed a significant pattern with downward pressure:
Here are the details of my order (hasn’t been triggered yet):
Entry order: 1.4528
SL: 1.4478
TP: 1.5079
It has a risk-reward ratio of more than 10:1
Trade Safe!
Raul Lopez
Forex Training
The GBPCHF is trading around historical lows (same as the USDCHF, but haven’t been able to enter the market – no signal yet), when it is trading like this, we need to find opportunities in the direction of the market condition. Luckily I found this earlier this morning:
Here are the details of my trade:
Entry: 1.4258
SL: 1.4310
TP: 1.4103
I’m only using a 3:1 risk-reward ratio as we don’t have further LT support levels.
Trade Safe!
Raul Lopez
Forex Training
The GBPCHF is trading in a very clear bullish market condition, earlier this morning (during the GBP PMI announcement) the GBPCHF broke through an important ST resistance level triggering its condition. Only long opportunities are in play:
As long as it trades above 1.4939 I’ll keep looking for long opportunities.
Trade Safe!
Raul Lopez
Forex Training
The GBPCHF is trading in a very clear bearish market condition, this one is one of the currency pairs that I like the most today, when I say I like the most I mean that it is trading consistently between clear support and resistance levels in the short and long term charts:
As long as it keeps trading below 1.4773 I’ll be looking for short opportunities.
Trade Safe!
Raul Lopez
Forex Training