AUD/CHF completed a bullish Elliott Wave count (5 waves) at the **January 7 high of 0.5698**. The pair is now moving into a complex and corrective phase lower, which is typical following such patterns.
Corrective Pattern: Corrective legs often occur in three or five-wave structures.
Key Levels: Intraday resistance is identified at 0.5663, while support is located between 0.5591 and 0.5581.
Setup: Selling at the market offers a favorable risk-reward ratio of 3.45R.
Entry: Sold AUD/CHF at 0.5660
Stop Loss (SL): 0.5680
Take Profit (TP1): 0.5591
Risk-Reward Ratio: 3.45
#tradeplan #AUDCHF #Forex #TechnicalAnalysis #ElliottWave #TradingStrategy
Corrective Pattern: Corrective legs often occur in three or five-wave structures.
Key Levels: Intraday resistance is identified at 0.5663, while support is located between 0.5591 and 0.5581.
Setup: Selling at the market offers a favorable risk-reward ratio of 3.45R.
Entry: Sold AUD/CHF at 0.5660
Stop Loss (SL): 0.5680
Take Profit (TP1): 0.5591
Risk-Reward Ratio: 3.45
#tradeplan #AUDCHF #Forex #TechnicalAnalysis #ElliottWave #TradingStrategy
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Get PURE white-hat Forex Trading Signals in your local time zone. Our TOP market analyst team generates all VIP FX signals. 85% Accuracy. Weekly 500+ Pips.
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pipswin.com
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pipswin.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.