The mode price for AUDCHF has been established at 0.73816 after a bullish turn confirmed via 5 consecutive bullish daily chandles.
The pair is also not showing any bearish divergence on the 4H RSI while showing acceptance of support from the trend line after a short lived bearish break (fake out?).
Depending on the next daily open being above the mode line I will enter a long on this pair through a buy stop order similar to the one shown with a target dictated by the Time at Mode analysis and SL dictated by trend support, price action and ATR.
With a daily open above the mode price, the pair should reach my target within about 6 trading days.
The pair is also not showing any bearish divergence on the 4H RSI while showing acceptance of support from the trend line after a short lived bearish break (fake out?).
Depending on the next daily open being above the mode line I will enter a long on this pair through a buy stop order similar to the one shown with a target dictated by the Time at Mode analysis and SL dictated by trend support, price action and ATR.
With a daily open above the mode price, the pair should reach my target within about 6 trading days.
Trade active:
Entered as shown.
Trade closed: target reached:
That was quick