not sure if the channel is near completion or not.
But macd divergence may suggest the turn is about to peak. I am still looking for trend continuation.
With resistance confluence , I am looking for close below 8265 for my trade to run smooth.
Although not fully completed, there are signs of h1 channel appearing. Not too sure if the big channel TL will be tested or not.
currently we are sitting on a strong support level and I am thinking of getting long right here. but if we break down this Cypher could come into play.
AUDCHF is forming a bullish engulfing candlestick pattern right at support. We also have the 200 EMA there. Price is still clearly in an uptrend, as illustrated by the pattern of higher lows and the general slope of the daily chart since the start of 2014. As such, I'm set to go long at support at 8382, with my stop 75 pips away at 8307. My target profit is 8730,...
What I'd really like to see out of this is a bit more candlestick confirmation, but I think there are enough signs in place to warrant pulling the trigger and placing an order. Price has pulled back to a 50% Fibonacci retracement level, and is above the 50 SMA and 200 EMA. While the candlestick confirmation could be stronger, we do still have long wicks on today...
The short is very evident on the pair. I am trying to talk a different approach, a little price action here.
Now, looking at the trend line 'A', it is obvious that the trend is upwards. But, if we give a closer look a the candles, this is what we can observe.
From point '1', we can see an aggressive move up with large candles before the impulse observes a...
Price level of 0.8570 is resistance as per my system, the cyclic change is also pointing towards short move.... However there is couple of hiccups in this trade is significant negative swaps which will make cost to trade little heavy. Also price is still above the weekly open price which is establishes general sentiment for this week. However shorting at right...
Idea is based on a combination of Elliot Wave theory, Median Line Analysis and Fibonacci ratio's. The rationale behind this technical analysis is shown on the chart along with specific targets. If you are about to copy this setup, please do so at your own risk. Good luck
The technical view shows an harmonic upside movement without major disrupions. Therefore the sequel of the uptrend channel is likely.
MACD respects higher lows.
Targets are: 0.86 - 0.865
Price on AUDCHF has been in a tight range since July 4, which I'm interpreting as an accumulation pattern -- i.e. buyers stepping in and quietly building their position. Just below this accumulation zone, which happens to coincide with a 50% Fibonacci retracement from the recent swing low to swing high, are the 50 SMA and 200 EMA. As such, I think there are enough...
I had put on the exact same order last week, only to cancel it yesterday as I did not find the price action favorable. Today we have a solid up day, though, so I am putting the same exact order back on as bulls have put up some strength and shown themselves to be interested in defending this level. In hindsight, if I had not cancelled my order from yesterday I...
AUCHF looking good. Support - blue channel - held. Observing if momentum is staying strong. There's a lot of room the the upside in the green channel but we will have to see how pice behaves after breaching the latest high. It would be healthy to see price first rise up to 0.8530.
Friends,
CHANNELS:
I have defined several times before the difference between the standard channel and the momental channel. The most important distinction between the two is the survivability of the latter over the former. In other words, momental lines, when projected in parallel, will remain capable to bracket price action throughout the entire life of the...
From the larger timeframe, AUDCHF formed an inverted H&S pattern. It failed to rally and retraced back to 38.2% of the rally. This tells us that the inv. H&S is still in play. Switching to H4 charts, with the help of the median line we see how price has been playing out.
A risky trade would be to long at 0.822 - 0.8219 regions with stops below 0.81209.
A safer...
If this fork is going to hold, I expect the price to get at least to 0.8245. I like the support level below, so any SL orders should be placed below 0.814. The aussie has been performing below its recent 'true potential', became overbought (by my measures), so I expect it to strengthen in coming hours. On the other hand, I find the Swiss franc pretty weak, but...
