Thursday Market Analysis: GBP/CHF

Hello traders,

One of my favorite delicacies is on display:

1. GBP/CHF

• An over-extended stochastic (bearish)
• Price at a key support zone
• Price within the range of the 200 moving average 

This is called a hidden bullish divergence setup (without the 200 ma). It’s one of my favorite setups to trade. 

I will be waiting till the close of the 7 a.m. candlestick before joining the buyers (if it plays out).

There is also a possibility that price breaks below the current support zone. If that happens, I will be sitting by the sidelines, sipping my hot steamy coffee

What say you?

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