Jump to content

5 reasons to buy dips in GBPCHF this week


PIA_First_IC

Recommended Posts

Looking to GBPCHF this week and buying dips. Although the long-term outlook remains to the downside, the strength of the initial move higher highlights a dip buying opportunity this week.

 

Monthly: With a five-wave pattern now complete (Elliott Wave formation) the bias is for a corrective move higher. The monthly Ichimoku Cloud has capped the initial rally.

GBPCHF M.png

 

Weekly:  Mixed trading for the last 74 weeks has formed a bearish Ending Wedge pattern. Although this pattern has an eventual bias to break lower, last weeks bullish Engulfing formation offers an immediate upside bias. The Marabuzo level (mid-point form open and close) is located at 1.3039. A pivotal level is 1.3414

 

Daily: Five consecutive positive daily performances in succession. We have stalled at the 50% pullback level of 1.3177 (from 1.3491-1.2862). There is ample scope for a correction lower before the next correction rally higher resumes. With the 78.6% pullback level being close to the aforementioned 1.3414, this is our prime target zone this week (1.3342-1.3414)

GBPCHF D.png

 

Intraday (four-hours) – Numerous reasons to buy dips:

  1. Stalled at the trend of higher highs
  2. The initial move higher is impulsive; therefore, the correction lower should be corrective.
  3. 50% pullback level at 1.3027
  4. Bespoke support at 1.3027
  5. The move lower could form a bullish reverse Head and Shoulders pattern.

GBPCHF 4.png

 

Intraday (six-hours) – If the cross stalls and reverses higher from our buy trigger then an AB=CD formation is seen at 1.3360 (inside our target zone)

 

 

In regards to the PIA analysis, no representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result.

Link to comment

Archived

This topic is now archived and is closed to further replies.

  • image.png

  • Posts

    • Since the previously traditional practices of the art industry are being reformed, transparency has become the watchword of the art market. The art world as a whole, comprising buyers, collectors, and artists, have called for increased transparency and accountability. Artrade aims to champion this shift by harnessing the transformative capabilities of blockchain technology to fortify every transaction. Known to promote decentralization, the team of Artrade hopes to leverage on this core blockchain feature to eradicate intermediaries, streamlining the exchange process as a result, and eliminating vulnerabilities linked to third party involvement. Also leveraging on Blockchain transparency and auditability, Artrade will look to offer participants a crystal view of the market’s transactions, instilling trust among buyers and sellers and making the art world more equitable and accessible. Where liquidity had been an issue, Artrade’s innovative integration of NFT technology will profer solution by facilitating direct and secure transactions between participants, paving the way for a seamless exchange and liquidity boost. Establishing a mechanism for community-driven decision-making is the integration of Artrade utility token $ATR which is set to list on Bitget, and will engage holders in the project’s success and governance. Transparency in the art world helps to promote ethical and fair transactions, raise trust and confidence, and tackle issues such as fraud and money laundering. The ideal solution to the transparency challenges in the art world?
    • Discover the future of art commerce with Artrade, an all-in-one platform dedicated to supporting creators, fostering community connections, and protecting content from crypto volatility. Whether you're a digital artist, traditional artist, curator, or collector, Artrade offers a seamless solution for selling and showcasing your work while championing fairness and transparency in the art world.  Artrade is committed to fairness for artists, which is why it revolutionizes the art marketplace with its ultra-competitive commission structure. Unlike traditional platforms that charge hefty commissions of up to 50%, Artrade believes in rewarding creators fairly. With just a 5% commission on sales, artists retain more of the value generated by their work, ensuring that their talent is recognized and compensated appropriately.  Beyond facilitating sales, Artrade prioritizes building connections within the art community. Whether it's connecting artists with collectors, fostering collaborations between creators, or providing a platform for enthusiasts to engage with art, Artrade cultivates a vibrant ecosystem where creativity thrives and relationships flourish. By fostering a sense of community and support, Artrade empowers artists to reach new heights in their artistic journey.  Excitement builds as Artrade (ATR) prepares for listing on Bitget Exchange on April 18th at 11:00 UTC. This partnership opens up new opportunities for artists and investors alike, providing a trusted platform for trading and engaging with the ATR token. As Artrade continues to champion fairness and innovation in the art world, its listing on Bitget Exchange marks a significant milestone in its mission to empower creators worldwide.
    • In a bid to ensure the widespread use of cryptocurrency, certain platforms have come up with good initiatives to boost enthusiasm in cryptocurrency.  Bitget in an effort to achieve this have come up with an initiative known as the COO apprenticeship, this is in link with the platform’s #Blockchain4Youth initiaitve. Basically, the program requires eligible participants to collaborate closely with the team while gaining valuable leadership experience in the process. Similarly, they are also required to conduct market research as well as assist in the implementation of market strategies.  The prerequisites for participating are relatively easy; excellent communication skills, passion for crypto, blockchain tech as well as availability for a 3 month commitment with the possibility of travelling to Dubai.  The benefits tagged along this are overwhelming, you get gifts from Bitget in the form of monthly $BGB airdrops and Bitget Merchandise. Apart from being rewarded monetarily, the work experience, a widened horizon etc are part of the perks that come with this program.  However, the targeted regions for the program are; France, Germany, italy, Spain, Portugal and the UK. This is indeed a worthwhile opportunity for those that can participate.
×
×
  • Create New...
us