AUDCHF Potential Long Setup #1 (High Probability Reaction)
Clean and high-probability long setup on AUDCHF with multiple confluences lining up. Here is my breakdown:
1. Support Traits
- Multiple rejections (4 touches + 1 fake breakout)
- Newly formed support (close to previous structure)
- Strong reactions away from the level each time price touched it
- Very clean and obvious zone
2. Candlestick Signals
- Shrinking candles: sellers losing momentum
- Takuri line: seller take profit action
- Color change candle: buyers stepping in
- Doji / spinning bottom: indecision at support
- Inside bar: consolidation and profit-taking
3. Chart Pattern
- Break and retest of an Ascending Triangle
- Clear buyer dominance after breakout
- Price pulling back to the neckline/support
4. Supertrend Confirmation
- Price tapped the green Supertrend line, acting as uptrend support
5. Additional Confluences
- Trend trading: market remains in a clear uptrend
- Breakout momentum: buyers attempted multiple times, broke resistance, now retesting it as support
STOP LOSS
Set below:
- Candle wicks
- Supertrend line
- EMA 50
- Fibo 38.2%
(Strong multi-layer protection)
TAKE PROFIT
- Parallel trendline
- Fibo extension zone 50% - 61.8%
(High-probability reaction area)
If you enjoy clean and well-explained trading ideas, consider following me for more high-probability setups. Feel free to share your thoughts or perspectives in the comments.
Disclaimer:
This post is for educational and informational purposes only. It is not financial advice. I am not a financial advisor. Trading and investing involve risk, and you should always do your own analysis before entering any trade. I am not responsible for any losses or decisions made based on this idea.
1. Support Traits
- Multiple rejections (4 touches + 1 fake breakout)
- Newly formed support (close to previous structure)
- Strong reactions away from the level each time price touched it
- Very clean and obvious zone
2. Candlestick Signals
- Shrinking candles: sellers losing momentum
- Takuri line: seller take profit action
- Color change candle: buyers stepping in
- Doji / spinning bottom: indecision at support
- Inside bar: consolidation and profit-taking
3. Chart Pattern
- Break and retest of an Ascending Triangle
- Clear buyer dominance after breakout
- Price pulling back to the neckline/support
4. Supertrend Confirmation
- Price tapped the green Supertrend line, acting as uptrend support
5. Additional Confluences
- Trend trading: market remains in a clear uptrend
- Breakout momentum: buyers attempted multiple times, broke resistance, now retesting it as support
STOP LOSS
Set below:
- Candle wicks
- Supertrend line
- EMA 50
- Fibo 38.2%
(Strong multi-layer protection)
TAKE PROFIT
- Parallel trendline
- Fibo extension zone 50% - 61.8%
(High-probability reaction area)
If you enjoy clean and well-explained trading ideas, consider following me for more high-probability setups. Feel free to share your thoughts or perspectives in the comments.
Disclaimer:
This post is for educational and informational purposes only. It is not financial advice. I am not a financial advisor. Trading and investing involve risk, and you should always do your own analysis before entering any trade. I am not responsible for any losses or decisions made based on this idea.
Trade active
Additional confluence: Anchored Volume supports this support levelNote
Additional confluence – Weekly timeframe:Symmetrical Triangle breakout aligned with a descending channel structure.
Strong bullish momentum confirmed with 3 consecutive growing candles and wide RSI & MACD divergence.
This adds higher-timeframe strength to the existing long setup.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.