Technician
Long

AUDCHF: Resuming Bullish Trend!

FX:AUDCHF   Australian Dollar/Swiss Franc
839 3 14
AUDCHF             reversed trend in April, following the bullish breakout above the long term falling trend line and the completion of the bullish inverted head and shoulders reversal pattern. The price since then has been trading in a clear up trend, where downside corrections were limited so far to the 50-days SMA , and the latest bearish correction seems like done as price retested the average before getting supported again. The latest correction took the shape of the bullish continuation flag pattern, and am currently anticipating a breakout above the descending Resistance of the flag to confirm the resumption of the bullish trend , and to zoom into the hourly and four-hour charts to pick a good entry point.

Near term target is at the latest swing high at 0.8480, and the medium term target at 0.8700-0.8750 area. I may reconsider my bullish bias if price breaks back below 0.8315 support level.

Best of luck, join me at https://twitter.com/thefxchannel
If you dont want to miss any trade and see all the trades live, fully transparent. No bullshit like some others. Join my FREE channel here https://telegram.me/technician_forex_trades
himsly
2 years ago
hello Im new here. where I can see the time frame??? thank you
Reply
nilwijes
2 years ago
hi - looks good - can you please just clarify what level you are looking to get long?
Reply
renato.tranchesi
2 years ago
Wow this one was a perfect trade. Good job.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out