(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 ..if this 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 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 would be destroyed, a trendchanel can be formed: 8
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 .
- Reached both TPs:
tp1 0,75 reached