The purpose of this analysis is to propose a general BIAS for this security.
AUD/CHF is now up against an internal retracement. A down wave has retraced in the region of 50-61.8%. The largest anticipated move in this security is to the down side on the DAILY, meaning LONG positions are likely to suffer the greatest. non-commercial activity is currently SELLING into any strength.
Comment
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The region of 0.7333 is proving to be a zone of Support/Resistance. A bounce may or may not occur but either way a bottom is not yet confirmed on AUD/CHF.
Trade active
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I still love this trade because the "red resistance zone" is proving to be a battle zone. As mentioned at the beginning of this trade, "non-commercial activity is SELLING into any strength". We did see many attempt of strength that was constantly rejected. Of course these are all tradable and predictable moves but holding to one big idea keeps one relaxed.
Trade closed manually
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I am closing this trade to focus on others instruments.. Patience will pay off for short term swing trading activity. I will reverse position from here and for a few days.. this chart will not be updated