Price is being rejected from strong resistance, upside supported by trendline..... sell if price manages to break below trendline.. In these articles we post intraday possible outcomes of pairs based on naked trading setup only .. We do not take into account fundamental news which may move pair significantly in any direction , follow your trading plan...
AUDCHF Trading Plan BUY - Riks Reward 1:3
Trading Plan Buy Limit : 0.61830 Stop Loss : 0.61580 Take Profit : 0.62580
The uptrend in this pair has been strong for a few sessions, as can be seen in the chart. It is testing upward resistance to move further up, and I expect it to touch 0.62400 levels in the near term. It is currently at around 0.62200 levels, so that's a good move for this pair at this point. My expected take profit levels would be around 0.62400 for AUDCHF.
Break and possible re-test of bottom of descending parallel channel. Previous trade was a buy which has been closed at this level. Expecting nice price action and volume to take it to the downside to at least the support level which is a historical low for this pair, should the conditions for the trade meet. Circle highlighted was a market gap that was only filled...
It is suitable for taking the Long position Due to the indicators and daily candelabra, the possibility of very high growth is possible. Use fire risk to get more profit.
the price has been confirmed to breakout the secondary trendline resistance (link attached below for previous analysis!) and potentially will go up, here's the plan : Plan : wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this...
This is a full breakdown of my perception of price action on higher time frames! I take my entries using smaller time frame confirmation and you should, too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below! Let’s make some money together!
AS SEEN ON THE CHART THE PRICE WAS MAKING A BULLISH FLAG. THE FLAG IS NOW BROKEN AND I AM PRETTY BULLISH
-Thank you for reading this idea! Hope it's been useful to you. -Remember this analysis is not 100% accurate.Use it with your own risk. -Comment below and let me know what you think of this analysis and what is yours? I welcome all comments, feedback, ideas and sharing of knowledge