Bullish bias on AUDCHF
Updated
Welcome traders,
Let's start with the Weekly chart to see where we are right now
As we can see price has broken a major descending trendline With an inverse H&S pattern and has made a correction.
Daily TF
Another inverse H&S pattern shows a nice neckline break and a correction
Now down to the 4H chart and we can see the price is rising supported with an ascending trendline and showing a possible double bottom pattern at an important S/R zone
I'll wait for a strong rejection beyond the 0.50 % Fibo then set long orders at the shown level to scale in the original position
Remember to use proper risk management and trade safe.
Good luck everyone,
Let's start with the Weekly chart to see where we are right now
As we can see price has broken a major descending trendline With an inverse H&S pattern and has made a correction.
Daily TF
Another inverse H&S pattern shows a nice neckline break and a correction
Now down to the 4H chart and we can see the price is rising supported with an ascending trendline and showing a possible double bottom pattern at an important S/R zone
I'll wait for a strong rejection beyond the 0.50 % Fibo then set long orders at the shown level to scale in the original position
Remember to use proper risk management and trade safe.
Good luck everyone,
Note
A daily close below 0.68 invalidates the Double bottomOrder cancelled
A Deeper correction maybe in playI'll update in the future when the opportunity arises
Note
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