AUDCHF Potential Bullish Shark
Updated
Base on the Shark Pattern the movement from BC should retrace between 1.13 - 1.618 of the XA movement, however, BC only retrace to 1.053 of XA.
In the other hand, we have a major support which it was establish on the 21 Aug 15 and re-tested on the 03 Jan 19, on this retest, it printed a larger PIN candle.
This makes me to believe that price is trying to find balance before we move higher.
PRZ ; 0.6773 - 0.6712
SL: bellow 0.6650 (round number + Support)
Targets: 0.382% - 0.618% retracement of CD.
(currently base on entry @ 0.6773 - needs to be confirm)
In the other hand, we have a major support which it was establish on the 21 Aug 15 and re-tested on the 03 Jan 19, on this retest, it printed a larger PIN candle.
This makes me to believe that price is trying to find balance before we move higher.
PRZ ; 0.6773 - 0.6712
SL: bellow 0.6650 (round number + Support)
Targets: 0.382% - 0.618% retracement of CD.
(currently base on entry @ 0.6773 - needs to be confirm)
Trade active
Price trigger my entry orderTrade closed manually
Close manually, interest rates decision news. still good profit
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.