After a long bearish run price seems to be at its lowest on this run can we see some sort of bounce to the trendline MA AND PIVOT Alot going on on this but lets see how it gets the week started
Please note this is not a investment idea as when trading CFD your capital is at risk
If you have any questions feel free to message me
. There is a possibility of temporary retracement to suggested support line (0.6557). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. AUDCHF is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
AUDCHF is currently at all time lows and at the bottom of a descending wedge pattern. RSI is also oversold, we could sit in a bit of consolidation, but it looks like this market is setting up for a big bull run. follow @tradewithbrad on instagram to access me free trade ideas.
Buying at 0.6458
TWO SHORT BUY ENTRIES TP1 AND TP2
Due to the Unfortunate event that happened in Australia (Forest Fire).
Agricultural side was damaged as well as the production of cattle.
Causing the economy to tremble down hill.
Aiming to catch the short retracement before seeing a drop down further.
Will be entering a sell after TP1 has been hit.
AUDCHF (1H) - short term bullish bias
The Australian dollar saw strong buying interest near the daily support level of 0.6690, and we expect the bullish correction to last for a few days. On the hourly chart, the classic RSI divergence suggests a slowdown on the sell side, a prerequisite for a rebound. As the price action moves above 0.6730, the 20-hour moving...
AUDCHF has bounced up from an uptrend line with a bullish inside bar. I will be looking to take a long trade here up to near the long term downtrend line for a short term profit.
Tight SL just below a thick support cloud so will be monitoring and updating the trade as it progresses.
SL - 0.66701
TP - 0.69233
Hi guys, I had a mentoring lesson with one of my students (@embee911) and we decided to take a trade based on the knowledge he had already learnt through my mentoring programme.
Hope all is well. My 15th published trade on Tradingview.com (XAUUSD was a huge success and take profit was hit and continued to drop another 200 pips afterwards)
*Please keep yourself...
- A Triple bottom has occurred and as we can see price has come to retest the neckline of the Triple bottom pattern.
- Will be looking to go long providing we can get a Bullish candlestick formation such as the Engulfing or Bullish hammer.