Looks like the AUDCHF.
This is a closer look @ AUDCHF which shows a potential bullish correction. Ladies & Gentlemen, please place your bets in comments and LIKES!
GBPAUD may become bearish as the Aussie seems to claim a correction. Looking for a consolidation breakout of the forming 'B' leg for a short position.
A possible ABCDE triangle @ 240m as a consolidation of the last impulse @ daily. (zoom out the chart)
I have been tracing this pair for some time. Until now it behaved as expected. The last impulse up suggest a 1th wave, with its retracement around the 0.618 - 0.764 area.
I think it is a beautiful setup. Levels on chart.
Update: the position has been trigged. ________________________________ As expected, a pending long position after the breakout.
No rest until $1.5250 area is reached!
It is up to the market to play along this analysis. Share a LIKE!
I am studying the price action and trying to figure out the next move.
This chart is only about the 'C' leg of ABC pattern as a correction of a full 5 wave cycle you can see on weekly or monthly chart. It is wise to wait for an impulse up or down beyond the reversal zone.
Not sure if there is weakness in pound or the dollar is being highly appreciated.
I guess it will be a trend continuation after days in consolidation. I am assuming that the consolidation is already broke and the retracement is a opportunity to hope on the trend.
It took me a while to decipher what is happening. You can follow my analysis process by clicking my related ideas below. Happy trading!
UPDATE: this trade was cancelled without trigger the orders. ________________________________ I am trying to get short at Euro/Dollar with quite amount of caution. The 'agreekment' could trigger some unexpected euphoria, so...the higher risk/reward is the better.
TRADE CLOSED: 210 profit 2.1 reward/risk trade profile.