GBPCHF - Trading Inside The Box! 📦Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
on H4: Left Chart
GBPCHF has been stuck inside a range so we will be trading the range until it is eventually broken upward or downward.
Now since GBPCHF is sitting around the upper bound of the range, we will be looking for sell setups on lower timeframes.
o n H1: Right Chart
🏹 For the bears to take over, we need a momentum candle close below the gray last swing low to sell.
Meanwhile, until the sell is activated, GBPCHF can still trade higher or even break the upper bound of the range.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Range-box
Spy Supply/Demand Zones with Support/Resistance.AMEX:SPY
Here shown are the current S/D and S/R levels on Spy. There is also an imbalance area in the middle of the chart that can be used as a support/resistance zone however, this seems to be more of a resistance level given the candles and wicks and how they set up right below this level. The candles are seemingly setting up for an aggressive leg up as that is the only way they can break this resistance and make it become a support again. Hope this chart helps you traders and remember me when you get your first AP. Remember the AP doesn't lie...
gold dxy5.12.20 This video is the sequel to the previous video. In addition, I showed two ways to frame range boxes on the gold contract. I decided to give a closer look at the bear trap on the DXY and as I did this, I realized I had to look at a couple of time frames in order to add clarity. This was a bear trap on smaller time frame, but it is a retest of a breakout higher. It is what it is on different time frames, but it has value to do this in my opinion. As I was listening to the video before uploading, I took note of how bullish the whole pattern looks on the DXY on the daily chart... to the point that it looks likely that the price will move higher to an ABCD pattern... even though I am not a breakout buyer, and the market is still in arrange box which is the dominant behavior. If you don't understand this, I will come back and review it once we get a chance to see how the dollar plays out. The reason I bring this up is because of my conviction that higher time frames result in much more accurate assessment of the bullish or bearish nature of price action.