D1 - Price broke above the downtrend line.
H4 - Currently price is inside consolidation and holding above the breakout.
As long as this breakout holds, we may look for evidences of bullish pressure in order to join the bulls, expecting further continuation to the upside.
Hello Traders,
I have drawn angles for you. You should not sell AUDCHF at this point. If current candle closes above 240° then you can buy and target should be 300°. Alternatively if you want buy with great success then I have drawn buy area for you as 180°.
You should not sell AUDCHF at this point, the best price to open sell position is 300° , alternatively you...
price rejected weekly zone and has been a consolidation period, don't think price will break resistance because buying pressure is slowing down at the moment. Waiting for price to break rectangle.
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
Trade...
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.
.
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.
.
Waves (a) and...
The Australian Dollar vs. the Swiss Franc pair is usually used as a carry trade. Swiss Franc is considered as a safe currency during unstable economic times and the Australian Dollar is a more responsive one to global economic conditions. AUD CHF pair is often used as a measuring stick for the global economic performance.
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