AUDCHF: Sell the retracement

FX:AUDCHF   Australian Dollar / Swiss Franc
125 16 11
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!
Today might be the last day in this uptrend. Good idea to short under the low.
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.
pic is self explanatory, still need to see bullish confirmation
Something like that.
IvanLabrie IvanLabrie
Same setup in audnzd.
Downtrend expired, we can now take the retracement for a nice long.
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.
alex.a IvanLabrie
Tomorrow RBA interest rate decision ~
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.
IvanLabrie IvanLabrie
And AUDCHF, and EURAUD favored AUD strength as expected...
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