Hello, everybody, I hope you have all had a great day today. I'm just getting home from my restaurant job and reviewing/managing some trades I'm currently in. AUDCHF is one of those trades.
I've gotten better at catching myself when I'm about to place a trade for FOMO but sometimes I still fall victim. I entered the market at 0.68565 originally with a 395 pip Target and 40 Pip Stop Loss (SL). I'm currently in the red for this trade, but I just placed another buy stop order at 0.68465. But I'm not too worried...yet. There is always the possibility that the market will do something completely different from what I was able to analyze. As of now on the 4HR chart, we see that the market has broken through the Daily descending wedge resistance level (This is where I immediately placed my FOMO trade instead of waiting for the predictable pullback) and seems to have finished its correction period. The 15Min and the 1HR chart both show price action has bounced off the what is now the highly likely new support for this market. I placed my buy stop order on the 4HR chart at the tip of the last 2 large candlesticks.
I would love any feedback on this analysis if anyone has any advice or guidance leave a comment for me!
I am looking forward to this development on audchf
Anrich_Ang
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I’m in on this trade too, I’m seeing both h1 and h4 which broked the bullish flag pattern which means buyers are in control, as price bounced off the weekly support, on the daily if price breaks the ma20 very likely price will go up higher