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The pair is trading near a key and important resistance zone from where it has never been pulled back, selling from the current or from the 0.6912-0.6834 zone, then lowering the pair to the local level in the 1.2061 area, then the 0.6834 rest zone and further fall...
When we look at the chart we can see that there is a possibility of an shoulder head shoulder formation forming. If we get the break of the neckline we could consider to go short.
Please let me know in the comments what you think of it and share your idea for this pair also.
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If you have any questions, feel...
📌««««««Notice & Disclaimer»»»»»🔖
⭐️Must Be Follow Money Management. which means Must Be follow maximum 3% risk in your Account Balance.
⭐️When your entry hits the first TP profit, you will try to get out of the market. And if you wait for the another of taking Profit, then you will give your stop loss break even.
then wait for 2nd and 3rd TP.
Up trend breaks ,no more creation of higher highs , now we can see head and shoulders pattern forming and start of down trend.
Also supporting this idea is AUD being weak today and CHF being strong refereed to as currency strength.
When prices reaches TP1 we can put our SL at entry,
Good luck following this Idea :)
AUD - BEARISH
1️⃣ President-elect Joe Biden said Friday he is assembling a multitrillion-dollar relief package that would boost stimulus payments for Americans to US$2,000, extend unemployment insurance and send billions of dollars in aid to city and state governments.
2️⃣ The AUD was also undermined by resurfacing US-China concerns, this time concerning the...
`As we can see AUD against CHF standing near its Neckline and support. So we can imagine an H&S pattern and 3 times HIGHER HIGH and divergence in between PRICE AND RSI.
1st view. If we enter in 2nd shoulder so our SL can be 0.68868. But we are suggesting to use SL little big so we can follow both view.
2nd view. If we expect an other high so we will follow...
AUDCHF BEARISH CRAB PATTERN
Market Sell Order Set Up.
Sell Entry: (0.68719)
Take-Profit 1: (0.68350)
Take-Profit 2: (0.67968)
Max Risk-Reward: (1.97)
Leave a Like and Comment, I appreciate every support. Goodluck.
Price level managed to reach 361.8% level. I am expecting resistance level @0.6828 to hold. As of now, I am seeing a retracement opportunity to the support level @0.6782. A rejection or a breakout from there will determine the direction for this pair. A rejection off this support level will show us a BULLISH continuation to test 461.8% level while a breakout could...
◼️ Hello Team, I explain to you what this analysis is based on:
🔸 Price has retested the resistance zone with a confirmation candle.
🔸 Expected to break the rising trend line.
🔸 We will move to the 4H timeframe to look for a bullish opportunity.