Hi Guys, Looking at this chart and i found that there were a few things that supported my idea: 1. Support at 0.7245 and reversal has begun at the 4H TF 2. Previous support at 0.7146 was never achieved 3. RSI supports the upward trend I would expect a retracement period at 0.7430 (0.38 Fib) so you can take some profit here But my main target would be: T/P at...
AUD/CHF seems to be in a bullish continuation pattern. If the current support holds we can expect it to go further higher up about 100 pips. The more you wait for the confirmation before entering, the less unprofitable positions you will get into. Happy trading!
This my current view on AUDCHF
AUD/CHF is currently on a strong support. A breakout and trend continuation upwards could very well happen if the actual support holds. As always, money manage properly and trade professionally. Happy trading!
Been waiting for the entry trigger for AUDCHF after CADCHF has been triggered where it is positively correlated and shows almost the same trade setup. For this trade I'm also using my own version of U-Rider Trading System. Waited for price to retrace, this case at 38.2 Fibonacci level, then LONG trade will be triggered when a green candle closes above the 10 SMA...
The pair has been trading in a weekly channel for a long time, more specifically, since mid 2015, there are no good reasons for the channel to be broken but there are reason for price to chill out and stick to the trend line for a little bit longer... this is a TREND trade. I am in, but I am looking for at least about 200 pips in gains over a matter of few days...
A break of the 50ema could open up the high side and retest the .7590 zone which would act as the upper parallel for the channel. If it fails to break above the 50 we have another trend line which would act as the upper parallel and push price back down to the .75 zone to create a new low.
Forgive me I am not specialist when it comes to knowing all the bullish and bearish pattern formations YET. But it has been in a clear bullish channel for a while now. But recently its created higher lows and highs. It can continue to rise up as I have drawn. I can tell it is in a breakout formation to the upside or down is too early to tell.
0.5 FIB IS BROKE AND I AM WAITING TO TOUCH 0.61 ZONE AND THEN ROCKET TO THE RESISTANCE ZONE ! IT WILL BE A GOOD 140 PIPS
Bullish Bat setup under preparation Entry: 0.7490 SL: 0.7451 (-39) TP1: 0.7542 (+52) TP2: 0.7558 (+68) TP3: 0.7574 (+85)
Audchf seems strong support level around 0.7250 Buy advice Audchf 0.7350-0.7280 range for TP1 0.7450-1.7550 Where sl below 0.7230 advice