Trade has been live since 11:15 uk time and we are using our pow reversal script.
Trade history can be seen at the foot of this trade idea too for full transparency.——————————————i try and share as many ideas as i can as and when i have time.
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
It’s been a feast for bears operating on an hourly timeframe, as gbpchf has now gone down 8 of the past 10 hours.
It’s been a feast for bears operating on an hourly timeframe, as gbpchf has now gone down 4 of the past 5 hours.
Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
The closest is the 200 day average, which is 62.8 pips away.
Relative to other instruments in the forex asset class, gbpchf ranked 31st the day prior in terms of percentage price change.
This move is a reversal from the hour prior, which saw price move up.
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up.