Double Top? Bearish Wedge? Short it?
Is this an anticyclical Chance to short that sh...?
(i am not a friend of it)
The pair has reached the former Top @ 0.7465. This Top was sold again. Now we are trading within a bearish wedge..if this wedge breake, a dip down to the 38,2 @ 0.7376 - the minimal correction fibo - should be exspected. With a SL near above the last High you have a wonderful Chance-risk-Ratio - but you trade against the youngest momentum-trend.
The RSI signs a weak selling-signal
Prices above this mentioned possible Double-Top-Level @ 0.7465 will cause a further buying wave with TP1: 0.75 7 TP2: 0.758 - the wedge would be destroyed, a trendchanel can be formed: 8
Bullish H&S?
We nearly reached the former neckline - this is definetly an Action Point where a decision has to be made!
If audchf0.33% could recapture this Level (~0.735) a move up to 0.74 / 0.746 is possible.
If this Level will be sold again, the bottom of the big downtrend can be aimed again. Prices below the right shoulder are deep bearish .
- Reached both TPs:
(i am not a friend of it)
The pair has reached the former Top @ 0.7465. This Top was sold again. Now we are trading within a bearish wedge..if this wedge breake, a dip down to the 38,2 @ 0.7376 - the minimal correction fibo - should be exspected. With a SL near above the last High you have a wonderful Chance-risk-Ratio - but you trade against the youngest momentum-trend.
The RSI signs a weak selling-signal
Prices above this mentioned possible Double-Top-Level @ 0.7465 will cause a further buying wave with TP1: 0.75 7 TP2: 0.758 - the wedge would be destroyed, a trendchanel can be formed: 8
Bullish H&S?
We nearly reached the former neckline - this is definetly an Action Point where a decision has to be made!
If audchf0.33% could recapture this Level (~0.735) a move up to 0.74 / 0.746 is possible.
If this Level will be sold again, the bottom of the big downtrend can be aimed again. Prices below the right shoulder are deep bearish .
- Reached both TPs:
Comment:
The pair nearly reached TP2 0.758. Have we seen the top or will the consolidation go to the next round?
Comment:
Yihaaaaaaa....H&S triggered -TP Min. reached. Watch the RSI!
Comment:
Trade closed: target reached:
All Targets reached
Comment:
Because nobody is commenting my audchf- ideas, i will stop publicating views of this pair!
tp1 0,75 reached