on the chfaud, long term bias is bullish but at the moment it's bearish due to price reaching resistance zone and testing it while creating a rising wedge. entry, sl and tp are all listed on this analysis.
AUD is looking strong. With a great sign that we are bouncing nicely of our retracement levels we are in for another part of the downtrend to continue!
We have pulled back to the 0.618 retracemnt and immediately got rejected! Thus throwing us back into our Resistance made by previous pinocle.
Please support this analysis with your likes,...
We are looking for the long here! Where to enter? With my analysis we have to enter any the right time. We can see a double top occurring1 slight divergence. We want to break our resistance line to see any sign of a buy first. Lets see what happens.
Please support this analysis with your likes, follows, and comments.
price down broked a flag pattern (red) and may form a bullish bat pattern to test previous support tested only once the 1.365 level .
For a sell at actual price, TP at 1.3746 ( the 0.618 fib retracement of the last upward movement) ,SL at 1.3854 you get an RR ratio of 2 .
For a buy at 1.3656 (the D point of bat pattern ), TP at 1.3746 , SL at 1.3612 you get a RR...
So CHF is in a range for the past 3 years, but current fear in the world has boosted its valuation. A historical look show that every peak above the channel top with RSI above 70 on the daily chart has been in anticipation of a turn down. We're gonna bet on history repeating itself.
- Peak over strong channel top
- RSI and Stoch overbought (which has been a good...
This pair has shown pretty long waves which is good for profit. Right now we're in the beginning of one.
Rules for entry:
Strong bearish traction on monday morning
Stochastic and RSI showing bullish trend.