Audchfshort
AUD/CHF Wave Analysis
The counter has been in a 5-wave bull cycle.
Now, it is in the wave 4 phase which results in a bearish correction.
Hence, we expect the pair to be bearish in the near-term.
AUDCHF is approaching resistance, potential for further drop!Price is facing bearish pressure from our first resistance, in line with our horizontal swing high resistance and 61.8% Fibonacci extension, where price could drop from this level towards our first support, which is in line with our horizontal overlap support, 61.8% Fibonacci retracement and 100% Fibonacci extension. It is worth noting that RSI is testing the resistance level at 61.77.
Respected Daily trend line and bulls lose control.As you can see, the daily trendline was restpected well for the third time creating multiple tops and rejection. also we broke our 4HR trendline. bulls are losing control and bears are taking over.
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AUDCHF Possible shortsWe be looking for a little pullback into previous structures or a continuation pattern to go short on this pair.
AUDCHF - SWING - 18. NOVE. 2020Welcome to our weekly trade setup ( AUDCHF )!
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1 HOUR
Bullish reaction after closing below main sr level.
4 HOUR
Expecting this price action to be a fake out.
DAILY
Overall looking bearish for me right now.
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FOREX SWING
SELL AUDCHF
ENTRY LEVEL @ 0.66640
SL @ 0.66920
TP @ 0.65460
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
SELL SELL SELLHello Team, WE HAVE A DOUBLE TOP FORMATION. IF YOU MISSED THE FIRST ENTRY AT THE SECOND LEG OF THE M.
i would advice you wait for the break and retest.
AUDCHF SHORTThe price is currently at a key level on the daily. I have also spotted a hidden bearish divergence on the daily + double top bearish divergence on the 4hr chart. I have taken a short position at 0.66639, looking for a continuation short after this pullback.
AUDCHF ShortOPEC Meetings today so i'm careful. 0,5% risk and stop loss to breakeven as soon as possible again.
AUDCHF short trade ideaPlan: trendline and 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.
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Thank you for your support ;)
GWBFX
Price is making a rising towards our resistance zone.The price on AC makes a fakeout above the daily resistance zone (red zone). Price came back and broke under the zone while over sold (see RSI) Price is retracing towards our strong resistance zone making a rising wedge, while doing thet the RSI Rises as well. Waiting for some rejection or bearisch pressure to get in this trade. Take profit is set on the 1 and 4HR demand zone. just to be safe.
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AUDCHF - SHORT ALL ANALYSIS ARE MADE USING ONLY PRICE ACTION, NO INDICATORS. MULTIPLE TIMEFRAMES ARE INVOLVED BEFORE TAKING A TRADE.
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==> PLEASE TAKE NOTE!! DO NOT SET LIMIT ORDERS. GET IN ONLY WHEN YOU GET THE GO SIGNAL FROM PRICE ACTION
