usera9

Waiting for a trend resumption

FX:AUDCHF   Australian Dollar/Swiss Franc
17 2 1
Possible actions:
*Bull
+2 bull patterns that define supp levels still in action (green arrow)
+ price at a neck line of inverted H&S (acting as supp)
+ at 38% fib level
+ stoch in oversold and ligh bull divergence
+ price at lower boll band

*Bear:
- strong upper res level defined by 4 strong bear patterns
- descending res trend line
- the low of lateral range (light blue rectangle, old supp) is acting now as a turncoat resistance
-SMA200 has capped the bull very well for now

I'm waiting for a clear signal before entering the mkt

Related Ideas

ForceFollower
2 years ago
A very nice analysis. Maybe too soon to tell, but I'm bullish.
Reply
usera9 ForceFollower
2 years ago
Thanks a lot. If tomorrow it prints a bull candle patter I'll be long too (if the R:R is acceptable). Friday I preferred to take the long on AudCad
Reply
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