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AUDCHF trade ideas

Bearish Luftwing Candle Formation Signals Potential Downside#AUDCHF Analysis: The AUD/CHF pair is currently exhibiting signs of bearish momentum, with the formation of a Luftwing Candle on the daily chart. Despite the initial bullish nature of the Luftwing Candle, the overall market structure suggests a possible downside, leading me to set a sell stop at 0.58005. Key Technical Analysis: Luftwing Candle Formation: Bearish Implications: The daily chart shows a Luftwing Candle forming, typically indicative of bullish momentum. However, in this context, the broader market structure and other indicators point to a potential reversal, favoring a bearish outlook. The long upper wick of the candle suggests that buyers attempted to push the price higher but were met with significant resistance, allowing sellers to regain control. Sell Stop at 0.58005: Given the current setup, I’ve placed a sell stop at 0.58005. This level is strategically chosen to trigger a short position if the price breaks below the current support, confirming the bearish sentiment. Market Structure and Support Levels: Immediate Target at 0.57478: If the sell stop is triggered, my initial target is 0.57478. This level aligns with a previous support zone and could be a critical point where the market either stabilizes or continues to drop. Potential Break of Market Structure: The bearish drop in price could break the existing market structure, particularly if it moves decisively below 0.57478. A break of this support could open the door to further downside, with the next possible target around 0.57000 or lower. Momentum Indicators: Moving Averages: The daily moving averages are beginning to flatten, indicating a potential shift in trend. If the price continues to move lower, we could see a crossover that would further support the bearish case. RSI (Relative Strength Index): The RSI is currently hovering around the mid-range but trending downward, which suggests weakening bullish momentum and the possibility of a shift towards bearish territory. Potential Scenarios: Bearish Continuation: If the sell stop at 0.58005 is activated, we could see a swift move towards the 0.57478 target. A break below this level would likely confirm a bearish continuation, with potential for deeper declines. False Break: There is also a risk of a false break where the sell stop is triggered but the price fails to sustain the move lower, possibly rebounding to retest the 0.58005 level. In this case, traders should be cautious and manage their stop-loss levels accordingly. Conclusion: The AUD/CHF pair is at a critical juncture with the formation of a bearish Luftwing Candle on the daily chart. While the Luftwing Candle typically suggests bullish potential, the broader market context supports a sell bias. I’ve set a sell stop at 0.58005, with an initial target of 0.57478, as the market appears poised to test and possibly break key support levels. Traders should keep an eye on the price action around these levels, as a break of the market structure could lead to further downside pressure.
Short
by TheLastLuftwaffe
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Long
by Thief_Trader
AUDCHF IS GOING LONG, TAKE PROFIT IS AT LEAST 100 PIPS AWAYSo here are the reasons for my Bullish Bias - Weekly Bullish Divergence Confirmed - Price rejected off level that was last touched in March 2020, the rejection candle on the weekly was 200 pips - Head and Shoulders Divergence spotted on the Daily, this particular Divergence is almost undefeated in terms of directional bias - Market structure has been broken to the upside on the Daily. I see price going to at least 58.800.
Long
by comcastpatty2013
Lingrid | AUDCHF double TOP at RESISTANCE zone. ShortFX:AUDCHF successfully broke through the range zone and subsequently formed a double top at the resistance level. On the daily timeframe, the market shows a clear bearish trend, having completed approximately a 50% retracement. The price is now moving toward the support level, and I believe it may continue lower, breaking through the upward channel on the 1H timeframe. I anticipate that the market continue to move down and at least retest last week's high. My goal is to support level at 0.57130 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
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