Audchf short term trade opportunity

OANDA:AUDCHF   Australian Dollar / Swiss Franc
Hey everyone, there seems to be something brewing in the audhcf. On the greater term we have popped out of a triangle we've been in since june and have seen a small correction. As my elliottwave analysis shows, we are in the wave 4 of a greater 5 wave move, and are about to be on our way much higher. The current support will be a bit below the 3 previous swing lows. I These 3 lows, which also happen to be on the 200 ema of the 3 hour, are a HARD support and if we break it, I am looking to take a short to the downside.

For this trade the target is the top of the most recent wave 3, with the ultimate target, and best case scenario being we hit the 2.618.

Another reason as to why I am going long is the action on the 3 hour macd . I believe that we are starting to see some bullish divergence as indicated by my trendline.

Long story short, my recommendation is that you go long up to the 0.67254 mark with a stop loss at 0.6575.

I hope this trade finds you in a good time and prosperous place. All the best
-Mika Kwiecinski


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