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Audchfanalysis

CHF/AUD TP Hit, Look For RetraceThis has just hit TP on previous posts for this pair. Now looking for this to retrace and possible re-entry for shorts. Fibonacci obviously depends where this current downward move ends but currently 0.382 aligns with previous structure so this makes sense to be the area this could retrace to. Then need to see bounce from this resistance lower. I'm currently setting target as 1.4130 for that next move but I will make a new post for this if and when the retrace comes.
by olly48
AUDCHF short trade ideaPlan: wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
4
AUDCHF short trade ideaPlan: support level breakout --> wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
3
AUDCHF | Perspective for the new weekEven though we are generally in an uptrend, there are shreds of evidence that Buyers might have lost the steam that brought them this far as we await significant breakdown of neckline @ Fr0.68250 for confirmations that support Bearish bias. Tendency: Downtrend ( Bearish ) Structure: Reversal Pattern (Double TOp) | Trendline Observation: i. Uptrend: Line drawn under pivot lows explains the prevailing direction of price. ii. Price is currently @ Fr0.68250 which has been a strong demand zone since the beginning of the year 2021. iii. Evidence that supports my Bearish dimension is the double rejection of the major Support/Resistance level on Weekly chart @ Fr0.69130 which makes a Double Top - a strong Reversal pattern. iv. As the Reversal pattern is on the verge of completion, it appears price is at a temporary end of a Bullish run and we have to be very careful as a Breakdown of neckline followed by retest/rejection might be the appropriate signal to sell in this instance. v. We should not forget that the Neckline has been a strong Demand zone in the past and this could attract a handful presence of Buyers before the decline begins. It is worthy to note that if we observe any significant Bull run from the neckline, we might be looking in the direction of a rally... Hence, trade consciously! Trading plan: SELL confirmation with a minimum potential profit of 250 pips. Risk/Reward : 1:5 Potential Duration: 3 to 8 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
4
AUDCHF an awesome short opportunity.. 18 Jan and beyond.The area marked (between 0.6930 and 0.6840) has been a strong support zone since Oct 2008. In July 2019 it became resistance and has held that role multiple times since then. As my weekly chart shows, price got to this level 2 weeks ago but last week it stalled here and we see a doji formation (indecision). I expect this resistance to hold and bearish PA to follow in the coming week. I will enter a short below the low of last week candle with stop above its high. My initial target will be just above 0.6600 level with potential to go much lower. This is a weekly trade and patience is essential to see it through. However, a break above the high of the indecision candle will negate my analysis. If you like my analysis, please give it a “thumbs up“ and follow me to get immediate notifications. As always, please use sound money and risk management in all your trades.
Short
by Trading_Vista