Price is trading in a Downtrend and is currently trading in a Daily falling wedge.
Checking out the RSI Indicator, we can see a bullish divergence.
If Daily candle closes above the falling wedge, plus the red box, the resistance of 0.606, we can expect a trend reversal in AUDCHF.
A Long SWING TRADE can be initiated:-
1. Either on breakout
2. or on Retest of falling wedge after the breakout.
In case the daily candle closes back inside the wedge, the trade setup gets invalidated.
Let me know in the comments section if you want me to analyse any other financial instrument.
WARNING:-
ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE.
Checking out the RSI Indicator, we can see a bullish divergence.
If Daily candle closes above the falling wedge, plus the red box, the resistance of 0.606, we can expect a trend reversal in AUDCHF.
A Long SWING TRADE can be initiated:-
1. Either on breakout
2. or on Retest of falling wedge after the breakout.
In case the daily candle closes back inside the wedge, the trade setup gets invalidated.
Let me know in the comments section if you want me to analyse any other financial instrument.
WARNING:-
ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE.
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.
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.