AUDCHF has previously exited upper Bollinger Band (50 Period) and was rejected with a bearish engulfing candle. Subsequently, the rally to the upside has not showed signs of strength. Going short if price comes back in with a profit target on the lower band. Condition for the trade is that ADX is below 30 and not showing any signs of an aggressive slope upwards. The idea of the trade is that with a low ADX, price will get rejected again and continue in a range downwards to the lower band.
Order cancelled
Bullish breakout of BB. May try again if it comes back into bands with a bearish price action signal
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.