AUDCHF was travelling in a triangle, until price broke out to the downside and came back up to retest the triangle and also the descending trendline formed from the triangle.
That is where we locked in the short trades as shown further down in our Trading view feed, we have now entered another entry - LETS GO !
AS seen in our of our last opportunities, AUDCHF was travelling in a triangle however we saw a breakout to the downside. more visible in this idea
Price came back up to retest the triangle and while doing so it formed an ascending trendline which was broken and on its way down...
A large descending channel is what price has been following, The most recent test on the channel was at the bottom of this channel. We saw a rally up from this test however it looks like its time to retrace before going back up to test or break out at the top of the channel.
Price has formed a triangle shown above and has broken out of it to the downside and has...
Long AUDCHF , Based on Risk On / Risk Off in Markets. Always have good stops in place so you don't blow your account. Never play with money you cant afford to lose or you are just gambling. Good target and stops in place. I don't win 100% of the time , but as as long as your R/R is good you have a good chance of beating the markets.
Good luck. Also see my 2 x...
Wait for price to break above its marked zone, retest & enter long on price action confirmation
- trendline not confirmed until we see a strong bullish move to the upside.
- We could see some consolidation at the current region, perhaps another test of its fib before we push above.
AUDCHF long has been on the watchlist this as a strength and weakness pair. Strength coming from the AUD with a seasonal bias backing the strength up and weakness out of the CHF after recent declines against other currencies.
With this in mind, looking to take this pair long with a technical entry. As you can see price broke through and re-tested a key daily...
Got into this earlier in the week. Note the large Bullish candle breaking and closing above the significant resistance, and then a smaller Bullish engulfing rejecting the other side of this level as support. Reward, as always, is 2 to 1.