AUDCHF potential short term long position
Reasons why on chart and labeled.
1. Price has anchored at 1H support line of structure
2. TDI band is over sold.
3. Price rise to area of resistence of structure
would coincide with .618 potential strong reversal point of fib.
4. .7030 region was last tested as resistence 5 times,
now potential to act as support, also same region as 4H support (blue).
5. 50 SMA & 50 EMA acting as hidden resistence in line with structure resistence
1. Price has anchored at 1H support line of structure
2. TDI band is over sold.
3. Price rise to area of resistence of structure
would coincide with .618 potential strong reversal point of fib.
4. .7030 region was last tested as resistence 5 times,
now potential to act as support, also same region as 4H support (blue).
5. 50 SMA & 50 EMA acting as hidden resistence in line with structure resistence
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.