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TheFxAce
Feb 28, 2024 2:36 AM

Looking To Buy On Dips Under 0.57 ? Long

AUD/CHFOANDA

Description

I've not been on the charts this Month as traveling and not too much happening on the HTF picture.


Though the AUDCHF is looking like a real good BUY on dips under 0.57 as you can see on the daily charts below the markets have been moving in a sideways accumulation since Aug last year a strong weekly support has formed @ 0.56





Monthly selling pressure has slowly been grinding too a halt as we've hit the 0.56 level, after a near 2 year down leg part of the 12 year downtrend in this pair with slowing of momentum and sideways movements in the lower timeframes.


This has potential to turn into a monster trade over the coming Months and maybe years with moves back up to 0.72 very possible so it could be a great time to start accumulating buying positions.





I will be waiting for signals on my TRFX indicator on timeframes from the 4hr to the Daily as price approaches and goes under the 0.57 level.


As always there is potential for this pair to move lower though personally I think this is limited and bullish outlook on the long term perspective is the best move.


Hope you enjoyed the read :)


Comments
Finchcliffe
Nice one and agree, we're approaching the ATL on this one so have been watching and waiting, agree it could fly!!
jujutrader
noice u just know this game in out rigth left center
LegionQ8
In my opinion, price can rise to 0.6130 points and then it will return back
WalterMoon
I think you are right, I'm waiting for when price to grow as you showed, thanks!
Leo-btm
nice one
AliShirali
nice set up ,thanks
PrimeTrading
Great idea, I like it!
We both had the same vision here ;)

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