iskfx
Short

Rising wedge/ascending triangle breaking bullish trendline

OANDA:AUDCHF   Australian Dollar / Swiss Franc
FX_IDC:AUDCHF
  • Rising wedge from late 2015 till date (start 2018).

    Price behaviors noted:
    1) constantly made higher highs, and higher lows
    2) price has respected the support with minimally 3 decent touches
    3) similar findings for the resistance, which was initially an increasing resistance, turned into a flat resistance - respecting a longer term S/R

    Reasons to look to/take a short:
    1) the break occured towards the last 1/3 of the triangle, meaning price has been in the formation for a considerable amount of time (compared to a break at the middle of the triangle)
    2) risk-reward opportunities surpasses > 1.20, if stop-loss is placed just below 0.78 and a 0.65 target
    3) general price direction, from mid 2012 till date, is bearish . A short constitutes a position with the longer term trend.

    *This is my first attempt to contribute to the tradingview community. All suggestions/feedback welcome!

    x
    iskfx
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out