The AUD is increasing in strength at the moment, as the S&P500 + SNPS (stocks) are also strengthening and we know AUD movement is strongly correlated with them. AUD is particularly strengthing against the dollar. Whilst CHF is weakening against the dollar and the majority of other currencies pairs.
Looking for a retest of the trend line before a break above,...
Price has entered the weekly demand zone and slowed down in price luring in buyers.
However, many are not taking note of the incomplete compression within demand.
Because this compression is incomplete, I think we are likely to see a breakout trap followed by completed compression BEFORE we see any signs of buying pressure.
I will set alerts and sit on my hands...
You may short first, but focus on long when reach entry area.
I will update the target soon, until the price bounce arround my entry area and make a correction before go up.
We are clearly going bullish short term on this trade with the possibilities of seeing this market selling off from a HTF supply zone. we have seen a classical BOS on the HTF and we are now buying from the point of buyers presence.
AUDCHF has been trading in a rising wedge. Price is consolidating in a range for two sessions.
A downward break from the range will call for more bears and a rising wedge can start free fall.
However, a break above will be too good for bulls.
According to volume and technical analysis , AUD/CHF is in uptrend .
put your buy limit orders and relax .
Entery points are the 3 levels of Fibo ( 1 , 0.5 , 0 )
SL @ red Fibo level
TP @ green Fibo level
Good Luck guys ;) ...
This is the position based on Edger trading system on 4H time frame,
This setup is 1:1 RR, entry has to be done on the candle close, the entry can be refined by your own knowledge.
This is only for educational purpose and no financial advice.
ENTRY : 0.69276 STOP LOSS : 0.68650
TAKE PROFIT 25% :0.69432
TAKE PROFIT 50% : 0.69589
TAKE PROFIT 75% :...
