Buy GBP/CHF on D1

Today, July 19, a great opportunity for the pair (GBP/CHF). On the daily chart, you can use technical analysis to detect a double discrepancy between the OsMA indicator histogram and the price (marked with black lines on the chart). This discrepancy shows the weakness of bears and the growing power of bulls in zones 1 and 2. I would like to note that in zone 1, there was no reversal, as this was not confirmed by volume (indicator Better Volumes). After Zone 1 it was possible to take into account short sales, the formation of a decreasing volume (red candle of the volume indicator). In Zone 2, there was an uptrend (green candle on the volume indicator), indicating the strength of the bulls and the possibility of opening a long position. When buying, the price difference indicates a moving average of 50 (moving average of 50) by almost 1.9%. It should be noted that the maximum deviation from MA50 is about 2.9% (purple lines in the display window for MA price deviations) reached a few days ago, and we successfully moved away from it.

The trading plan provides for a purchase at current prices (approximately 1.23) with a take profit of 1.299 and a stop loss of 1,204. The ratio of profit to risk of 2.6 to 1. Follow the rules of risk management!