AUDCHF-corrective pattern just finishing

FX:AUDCHF   Australian Dollar / Swiss Franc
266 5 9
An ABC structure is just finishing with this ending diagonal .
The price is rejecting from the strong round level 0.700. A bullish macd divergence in play.
We have also the 1.61 fib expansion of the AB leg

Best regards.

This is just and idea, not a recommendation to buy or sell.
Always do your own analysis before opening a trade.
Managing is 80% of a trade, anytime I may decide not to open, close or even stop and reverse a trade depending on price action.
Any respectfull and constructive ideas are welcome.
We all are here to share ideas, have fun, learn and improve our performance.
Also a possibility.
FullTimeTrader Yahia.Awes
Off course its a possibility, if the market keeps going down i have a small SL compared with a 500 pips potential reward. Its not always been right all the time but keeping a good R/R ratio.
+1 Reply
Looks good, catching up to NZDCHF.
FullTimeTrader IvanLabrie
Yes, i prefer this one because the subdivisons are clearer, i like the 1.61 fib expansion in confluence with EW, usually it works fine to catch a reversal from the beginning. I closed my EURUSD long and shorted the EURAUD that looks powerfull.
+1 Reply
IvanLabrie PRO FullTimeTrader
I still have an eurusd long, but also have a stop and reverse order ready at 1.1.
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