AUD / CHF - Range bound & ready for LONG?

Long

Australian Dollar / Swiss Franc (OANDA:AUDCHF)

Updated

OANDA:AUDCHF Australian Dollar / Swiss Franc

trendanalysis chartpattern beyondta audchflong swissfranc aussie aussiedollar audchfdaily audchfanalysis

This pair has been range bound since April and has been in and out of the range area bouncing off a rising trend line since 2015. RSI is now declining after rejecting the high of the channel for the fourth time and I'm setting a buy order @0.74 with a trailing stop below previous support and the trend line down @0.73 so reduce your leverage to ensure it's within your account management policy, I'm looking for a bigger move out of the channel up @0.76.

Comment:

We're still moving down for our entry price @0.73955 where I have a buy order waiting

Comment:

Aussie broke straight through the channel and bounced off the long-term trend line, looking for a two-legged pullback to take a Long position.

Comment:

This is what the pullback will look like, it's already tested the low and held it twice, two legs, now I want the final pullback to hold on the 1H timeframe, but I want to see a bullish signal on 4h and daily as well, it's not impossible to break through that trend line and continue to the downside.

Comment:

This will pullback to support now

Comment:

Trade is still active and going sideways and after nearly a few weeks, now at breakeven

Comment:

This thing has not moved for a month.... YAWN!

Comment:

We're actually starting to move north, only taken a month.

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