IvanLabrie
Short

AUDCHF: Sell the retracement

FX:AUDCHF   Australian Dollar/Swiss Franc
Description on chart.
Once the limit sell is triggered, we can aim to cover half at the previous low, which turns this trade into a risk free operation.
Good luck!
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HiTech PRO
2 years ago
Looks like a very good call, I am with you on this and will share my analysis on tuesday
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workingtraders
2 years ago
Nice chart and idea! Always quality stuff from you.

+1 Reply
IvanLabrie PRO workingtraders
2 years ago
Thanks! Trying my best to have consistent results.
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Time at mode target reached.
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IvanLabrie PRO IvanLabrie
2 years ago
And ahead of time...I suspect AUD and NZD will regain strength now. Look to long the correction.
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snapshot


Gold uptrend in place, expect a retracement now. We reached both targets quite fast.
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This looks a lot like an almost complete leg down, with price possibly forming a triangle now.
Will update with a buy setup once there's an opportunity here.
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alex.a IvanLabrie
2 years ago
Tomorrow RBA interest rate decision ~
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IvanLabrie PRO alex.a
2 years ago
Yes sir...I like to time momentum with fundamental events, probably why the market is forming a triangle, on top of reduced post Easter liquidity.
Always good to have a story behind price movements.
My thesis is the following:

Gold will outperform crude, meaning that there's a move down pending in eurusd, and a move up in DXY.
CHF although not tied to the Euro, will be weaker than AUD if gold and copper go up (both look ready to do that).
Now, is this move corrective? I don't know yet, but I suspect we're near a paradigm shift in currency relative strength and major trends.
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IvanLabrie PRO IvanLabrie
2 years ago
And AUDCHF, and EURAUD favored AUD strength as expected...
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Downtrend expired, we can now take the retracement for a nice long.
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HiTech PRO
2 years ago
pic is self explanatory, still need to see bullish confirmation
snapshot
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IvanLabrie PRO HiTech
2 years ago
Something like that.
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IvanLabrie PRO IvanLabrie
2 years ago
Same setup in audnzd.
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We can start looking for a short again, but I think the trend is now up. It'd be a corrective decline.
The volatility pays off though, in my watch list.
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Today might be the last day in this uptrend. Good idea to short under the low.
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