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Audchfshort

AUDCHF SELL LIMIT OPPORTUNITYThe price action of AUDCHF recently has been quite simple, it has been travelling in a triangle, price most recently broke out of a descending trend line to the upside and while doing so formed an ascending channel. Price followed in the channel all the way up to the top of the triangle where we experienced a small breakout to the upside. This was quickly turned into a false breakout when price shot down, breaking out of the ascending channel to the downside and back into the triangle. Now, price will most likely come back up to retest the inside top of the triangle before making its way back down. The 0.618 retracemennt level lines up perfectly with the inside of the triangle, we have placed sell limit orders at the 0.618 and our tp is at the -1.27 extension level. IF PRICE HITS STL , PRICE WILL MOST LIKELY FOLLOW THE RED LINE.
Short
by UnknownUnicorn2396129
ELLIOT WAVE VIEW: AUDCHF SETS TO FALL 400 PIPS IN SHORTER CYCLEHi Traders, The AUDCHF daily chart shows that the decline from Dec 2018 high to Jan 2019 low took the shape of a textbook five-wave impulse in wave (a) in red. . The Elliott Wave theory states that a three-wave correction in the opposite direction follows every impulse. In AUDCHF’s case, wave (b) in red looks like a w-x-y double zigzag retracement. . Waves (a) and (b) are simple a-b-c zigzags, while wave (c) is still in progress but almost completed. If this count is correct, once wave (c) completes the 5-3 wave cycle the trend can be expected to resume in the direction of the impulsive sequence. . With regards to traditional technical analysis, price is currently rejecting a weekly resistance that lined up with 78.6 Fib ratio which suggests the high-probability reversal is expected from the near current level. . One of the guidelines for EW zigzag formation is equality of wave A and C, in this case, wave (a) will equals wave (c) around 0.67489 area. So targets below 0.68298 are highly probable for wave (c). . Thanks for reading! Veejahbee.
Short
by Veejahbee
Possible AUD/CHF short position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe 1-3 Days Actions on - A – Activating Event Market will meet resistance in zone @0.725 - .... and fall to the 0.704. In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @ 0.704 FX:AUDCHF Trade Management Entered @ ..... Stop Loss @ ..... Target 1 @ 0.704 Target 2 @ .... Risk/Reward @ 6.5.1 Happy trading :) F ollow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
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