Hi Traders,
The AUDCHF daily chart shows that the decline from Dec 2018 high to Jan 2019 low took the shape of a textbook five-wave impulse in wave (a) in red.
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The Elliott Wave theory states that a three-wave correction in the opposite direction follows every impulse. In AUDCHF’s case, wave (b) in red looks like a w-x-y double zigzag retracement.
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Waves (a) and...
SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe 1-3 Days
Actions on -
A – Activating Event
Market will meet resistance in zone @0.725 - .... and fall to the 0.704. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @ 0.704
FX:AUDCHF...
AUDCHF was travelling in a triangle marked out in blue but it has now broken out to the upside. while doing so price has formed an ascending channel,
We believe price is going all the way up to the furthest resistance zone from the previous large impulse move
Hi fellas,
Very simple trade guys, as you can see this pair has created a double top recently which was followed by a bearish engulfing candle suggests a reversal. RSI is also at overbought position. I have gone short on this on and marked the tp and sl for this trade.
I will be looking for multiple targets on this pair as I believe it should come down to the...
AUDCHF on the daily chart has been travelling in a large descending channel, and inside that channel is a triangle which was broken out of to the downside, since then, price has formed a descending trendline, however we have reached a major reversal poinnt of this wave, we are at a major resistannce and also the 0.618 retracement level.
Price shot up from this...
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AUDCHF FOREX BREAKDOWN 09 APRIL 2019
1 HOUR
Explosive open above previous week highs taking out sellers
4 HOUR
Strong bullish wave formed and ending now
DAILY
Strong bullish price movement about to end we need a pullback
PULLBACK SETUP
SELL AUDCHF
ENTRY @ 0.71430
SL @ 0.71890
TP @ 0.70890
(Use normal Risk!)
IF YOU HAVE...
SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe 4 - 16hrs
Actions on -
A – Activating Event
Market will meet resistance in zone @0.711 - .... and fall to the 0.705. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @ 0.705
FX:AUDCHF...
AS seen in our of our last opportunities, AUDCHF was travelling in a triangle however we saw a breakout to the downside. more visible in this idea
Price came back up to retest the triangle and while doing so it formed an ascending trendline which was broken and on its way down another one was formed. Price is there now, we are expecting some sharp rejections...
AUDCHF was travelling in a triangle, until price broke out to the downside and came back up to retest the triangle and also the descending trendline formed from the triangle.
That is where we locked in the short trades as shown further down in our Trading view feed, we have now entered another entry - LETS GO !
