Let's take a look at the weekly chart on AUDCHF.
We have 3 relevant items to pay attention to
a) Broken descending trendline.
b) The price above a Huge support zone.
c) A massive Flag pattern on the edge of the broken descending trendline.
From a technical perspective, a Flag pattern is considered a continuation structure, which means that we have a sideways movement during a period of time, only for the price to keep going in the previous direction after the breakout.
We have 3 relevant items to pay attention to
a) Broken descending trendline.
b) The price above a Huge support zone.
c) A massive Flag pattern on the edge of the broken descending trendline.
From a technical perspective, a Flag pattern is considered a continuation structure, which means that we have a sideways movement during a period of time, only for the price to keep going in the previous direction after the breakout.
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.
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.