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Audchflong

AUDCHF BULLISH CONTINUATION SETUPHi Traders, The AUDCHF reversed from a major descending channel and horizontal support level and made an impulsive move higher labeled "Wave 1 or A," which broke out minor descending trend line and resistance level. . This pair seems to completed building bearish ABC zigzag corrective chart pattern labeled "Wave 2 or B," at an important confluence level which could indicate a continuation of the uptrend. . Considering that the price has broken our CTL after reversing from the confluence area, this pair has met our criteria for long entry. . The take profit levels are projected on the chart accordingly. . Best of luck on the chart, Veejahbee.
Long
by Veejahbee
Long AUD/CHF!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 4 Hours Actions on - A – Activating Event Currency Pair bouncing from support line. B – Beliefs Market will find support at current levels and move towards the first Target 1 level @ 0.71 FX:AUDCHF Trade Management Entered @ Sign up for details Stop Loss @ Sign up for details Target 1 @ 0.71 Target 2 @ Risk/Reward @ 1.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Long
by SMPTrader
AUDCHF approaching resistance, potential bounce! AUDCHF is approaching our first resistance at 0.7113 (horizontal overlap resistance, 61.8% fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 0.6954 (horizontal swing low support, 38.2% fiboancci retracement). Stochastic (55,5,3) is also approaching resistance and we might see a corresponding bounce in price should it bounce off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
Short
by Tickmill
AUDCHF approaching resistance, potential drop!AUDCHF is approaching our first resistance at 0.7113 (horizontal overlap resistance, 61.8% fibonacci retracement) where a strong drop might occur pushing price down to our major support at 0.6954 (horizontal swing low support, 38.2% fibonacci retracement). Stochastic (89,5,3) is also approaching our resistance and seeing a bearish divergence where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by easyMarkets
AUDCHF approaching resistance, potential drop! AUDCHF is approaching our first resistance at 0.7113 (horizontal overlap resistance , 61.8% fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 0.6952 (horizontal pullback support , 38.2% fibonacci retracement). Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
Short
by Tickmill
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