MaryJane
Short

Double Top? Bearish Wedge? Short it?

FX:AUDCHF   Australian Dollar/Swiss Franc
357 0 38
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

snapshot


Bullish H&S?
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:
snapshot
Comment: i wrote: 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
tp1 0,75 reached
snapshot
Comment: The pair nearly reached TP2 0.758. Have we seen the top or will the consolidation go to the next round?
snapshot
Comment: Yihaaaaaaa....H&S triggered -TP Min. reached. Watch the RSI!
snapshot
Comment:
snapshot
Trade closed: target reached: All Targets reached
snapshot
Comment: Because nobody is commenting my audchf- ideas, i will stop publicating views of this pair!
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