FX_IDC:AUDCHF short at 0.7627 stop above 0.7655 Wanna learn how to trade ? Got questions ? support@tradingle.com
Hi traders!I hold a point:Good charts does not more words to explain! Good luck!
AUDCHF has been screaming 'sell' for a while now, I've just waited for the catalyst which I think we just got today. CHF just came out with strong numbers on the consumer price index. Helping this setup to take off. We just passed 25EMA (not shown on this chart) and a cross over on a midterm stochastic (not on this chart). Cash is building up with weak buying...
A break of the 50ema could open up the high side and retest the .7590 zone which would act as the upper parallel for the channel. If it fails to break above the 50 we have another trend line which would act as the upper parallel and push price back down to the .75 zone to create a new low.
The pattern looks more like a pennant. Breakout is over, now there is a very good possibility to go short. Act according to your trading style.
4H Chart Higher High Lower Low Lower High Daily Resistance Area Short trade active from Top and Daily Resistance Long Term Trade TP at DAILY SUPPORT
AUDCHF setup, i'm very new at this so if my chart have some kind of problem i appreciate your comments on that. Thanks.
AUDCHF 2 in 1 patterns to keep on mind!