The British Pound Swiss Franc.

Good afternoon Dynamic Traders,

Hope some of you got in on the action on Friday and managed to capture some of the 340 pips offered after Thursdays post, in all a very good week was had last week.


On to todays chart of the GBPCHF which may be in a position for a continuation.

This pair is showing a DT formation in early August as can be seen on the chart below, and has since trended downwards to mid October where a bounce occurred which tagged the higher breather and since then the trend has resummed to its original downward tract.

Friday's price action however has given a possible short oppportunity in TS whilst this occurred Thursday in AG, albeit that it has now turned out to be a doji candle which offers the possibility of a pullback before the possible continuation, which could also tie in with the fact that although the longer and medium term trends are down the shorter is up.

GetStochastics is not showing a trend bar to the downside as yet although the last false bar was at the bottom of this indicator, and AdvancedGet is showing a W5 in progress but is disputing its credibility, therefore meaning a possible up move.

Therefore a mixed bag of trading information but decide which you think is best and trade accordingly as the up move may be short lived should it happen, but be aware signals are stronger for one direction, and a possible H&S pattern could be forming longer term, but is obviously not confirmed as yet.

As always please ensure to do your own analysis before taking any trades.