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GBPCHF Free Forex Trading Signals – 12th Dec 2016 

 December 12, 2016

By  Advanced Strategies

GBPCHF has been choppy recently. In fact, the pair has been trapped within an uptrending channel. The range of the channel is not that big, which is a reason that the pair has not been able to offer that many entries for the 1 hourly or 4 hourly traders. Let us have a look at the 4 hourly chart of GBPCHF

GBPCHF Free Forex Trading Signals – 12th Dec 2016 – 4 Hour Chart

Have a look at the lower line of the channel. The price has been obeying the line on many occasions. We have not had a confirmed upper line yet. However, we do not need to worry about it since we are going to look for buy entries here. Now let us have a look at the 1 hourly GBPCHF chart

GBPCHF Free Forex Trading Signals – 12th Dec 2016 – 1 Hour Chart

See the pair has produced two consecutive 1 hourly bullish candles right at the support zone. The price might go a little further up or it could start having correction from there. The price should come back to the level of 1.28150 level and make an hourly reversal. A bullish engulfing candle should be the best one that we should hope for.

  • Buy Entry should be taken after the reversal candle is finished.
  • Stop loss should be placed below 1.28150.
  • Take profit should be placed at 1.28880

We hope that you enjoy our Free Forex Trading Signal today: GBPCHF Free Forex Trading Signals – 12th Dec 2016

Comment below if you have questions on this trade and please let us know if you made money if this trade signal.

Good luck!

You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.

Tip of the day:
The name of this trading pattern is called ABC pattern. Trading the ABC pattern is very rewarding, but can be very tricky. We have to be immaculate on setting take profit and on the timing of taking entry. Price seems to move fast as soon as the signal is produced. On the other hand, the price seems to reverse aggressively from the level of taking entry. Have some back testing on your chart; you will surely love this setup if you can learn how to deal with this accordingly.


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