pagiygglpkinisdhtrg
Active+ Member
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- Joined
- Apr 26, 2008
- Messages
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GBP/CHF has been stopped during its ascend from the bottom price of 1.48200 by reaching to the descending trend line and recorded the top price of 1.51100. Right now this top price is fixed by the descending candle in 29th days. The drawn descending trend line in daily time frame had prevented from ascending of price three times, and finally the price after each encountering with the descending trend line faced a downfall.
Stoch indicator in daily time frame shows the possibility of descending of the price according to the next cycle. In weekly time frame of this currency pair the price has been stopped from more descend with the formation of the bottom price of 1.48200 on ascending trend line (the third point of ascending trend line). Stoch indicator is in saturation sell area in this time frame and warns the possibility of ascending of the price during next weeks. Until the third point of ascending trend line is preserved, there is the possibility of increase and ascend of price. The first important warning for ascending of the price is the formation of a bottom price in daily time frame and breaking of the descending trend line.
Stoch indicator in daily time frame shows the possibility of descending of the price according to the next cycle. In weekly time frame of this currency pair the price has been stopped from more descend with the formation of the bottom price of 1.48200 on ascending trend line (the third point of ascending trend line). Stoch indicator is in saturation sell area in this time frame and warns the possibility of ascending of the price during next weeks. Until the third point of ascending trend line is preserved, there is the possibility of increase and ascend of price. The first important warning for ascending of the price is the formation of a bottom price in daily time frame and breaking of the descending trend line.
