CHFGBP, Ascending-Wedge-Formation, Decisive Determinations!

3 ก.ย. 2021

Hello,

Welcome to this analysis about CHFGBP, we are looking at the 12-hour timeframe perspectives. When looking at my chart we can watch there how CHFGBP has developed this major ascending-wedge-formation with the coherent wave-count within the formation completed from A to E and with the recent pullback from the higher boundary as the wave-count has finalized CHFGBP showed up with increased bearish volatility to the downside and is now approaching the region around the lower boundary. When the bearish pressure increases further here and CHFGBP finally closes below the lower boundary of the formation this will complete the whole formation bearishly and will be the setup for further bearish continuations to the downside, also the lower target-zone marked in blue will be activated, once this target-zone has been reached the situation needs to be elevated again and CHFGBP needs to show if it manages to back-up in this zone or just sets up for further continuations to the downside, it will be an interesting development ahead.

In this manner, thank you for watching my analysis about CHFGBP and its main ascending-wedge-formation, support the analysis with a like and follow or comment for more market insight!
"Good luck is when opportunity meets prepration."

Information provided is only educational and should not be used to take action in the market.