Market Outlook:
AUD/CHF has shown a clear rejection from a significant weekly resistance zone, indicating strong selling pressure from higher timeframes. This sets the context for a bearish bias moving forward.
Technical Setup:
On the 4-hour chart, price has broken below a rising trendline, signalling a potential trend shift.
Price has also closed below the 50 EMA, confirming short-term bearish momentum.
Trade Plan:
I’ll be watching for a pullback to the broken trendline or the 50 EMA zone. If price retests and shows bearish rejection (e.g., bearish engulfing, pin bar, or trendline break in lower time frame), that would be my trigger to enter short.
Risk Management:
SL will be set above the recent swing high and the resistance zone. Risk-to-reward ratio aimed at 1:1 or better depending on entry.
Conclusion:
AUDCHF is showing strong signs of bearish reversal. I’ll wait for a clean retest and rejection before entering a sell. Watching price action closely around the pullback zone.
AUD/CHF has shown a clear rejection from a significant weekly resistance zone, indicating strong selling pressure from higher timeframes. This sets the context for a bearish bias moving forward.
Technical Setup:
On the 4-hour chart, price has broken below a rising trendline, signalling a potential trend shift.
Price has also closed below the 50 EMA, confirming short-term bearish momentum.
Trade Plan:
I’ll be watching for a pullback to the broken trendline or the 50 EMA zone. If price retests and shows bearish rejection (e.g., bearish engulfing, pin bar, or trendline break in lower time frame), that would be my trigger to enter short.
Risk Management:
SL will be set above the recent swing high and the resistance zone. Risk-to-reward ratio aimed at 1:1 or better depending on entry.
Conclusion:
AUDCHF is showing strong signs of bearish reversal. I’ll wait for a clean retest and rejection before entering a sell. Watching price action closely around the pullback zone.
Note
4H has turned bullish and is holding above the EMA. I will wait for it to shift downward again before considering a short.
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.