FX:AUDCHF   Australian Dollar/Swiss Franc
502 14 10
Just an observation, not prediction or trade. A nice conflict between classical technical analysis techniques and the new so called harmonic patterns . Pretty excited to see how things unfold. What do you think ?

Note: Credit to Mikoxl. to bringing my attention to the Gartley .
Bearish gartley (4H)

Note: Double Bottom is not ideal.

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traderWgun
3 years ago
Maybe a triangle also
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Technician TOP traderWgun
3 years ago
I would short it if i see more confirmation
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traderWgun Technician
3 years ago
I also would like to share my thoughts on euraud then (from an elliott wave aspect).
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I don't think a top is in place. also the fibs are spot on, if one zooms in on the proposted wave 5.
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There is ofcouse ppl that allow for a 3-wave fifth wave,
but I disagree with them.

But how knows. Let's see what will happen.
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Technician TOP traderWgun
3 years ago
Well well well, and look at that Support level
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dojitrader
3 years ago
If this is a guess the outcome chart -----
then I will vote for the Gartley indicating a test of the
trend line breakout down to around .8025
(a 4th wave of a 3rd wave or a 3rd wave) and then a
bullish trend continuation . . .
If only there was a prize ~~~~~~~~
Geez! maybe I should be trading this ?
Or maybe not, I just saw traderWgun's triangle !
This will take some work !!!
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Technician TOP dojitrader
3 years ago
This is a very possible scenario as well
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Mikoxl. PRO
3 years ago
I think it will eventually go up again, because on a consolidated weekly chart you see that AUDCHF does not like to be hanging beneath the 0.8200. 4 times in the past price did make strong moves to the upside.

Right now, it is in a weekly triangle (again).

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digitaltradingfx
3 years ago
More confirmation for short on 4h in form of 127 fib touch, trendline bounce and developing bearish divergence.
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digitaltradingfx digitaltradingfx
3 years ago
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Mikoxl. PRO
3 years ago
Also, I saw a smaller bearish butterfly which can complement the case for going short.



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tuqaikwon
3 years ago
not to mention the H&S
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Technician TOP
3 years ago
I am excited to see how this unfolds, lets see what wins
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Technician TOP
3 years ago
I have been always a fan of classical analysis more than harmonics . But I also take into consideration harmonic patterns
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Evild0er
3 years ago
Spotting the harmonics here was useful, not for the direction in this instance, but for the force of the move negating the pattern.
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