Hi mates sharing daily chart of Audchf as we can see price is moving in a ascending channel with higher lows and higher highs and now giving a breakout inside in that channel from last swing high resistance so i am looking a long side trade opportunity in this trading pair, Resistance based Target for this trade sharing on chart although i am feeling that i am an late entrant for this long trade but that consolidation breakout inside in channel tempting me so doing this, happy trading all mates.
This is not and trade or investment advice. This idea is meant for learning only.
Best Regards happy trading- Amit
This is not and trade or investment advice. This idea is meant for learning only.
Best Regards happy trading- Amit
Note
As we all know that closings are one of the most important part in technical analysis, so sharing my view on a larger time frame as we can see that price moving upwards and gives a weekly close above resistance from the bottom it is taking support by marke trednlineNote
Price made support to prior resistance and now try to moving up sharing hourly chart, looks like double bottom on this timje frame at appropiate spotNote
Marked a closing basis resistance if close above we can see target one very soonNote
Price created a bullish structure as well as sustain very good above marked closing resistance soon it can do target oneNote
Target update-Reached on resistance target one mates moving towards target two
Note
Yesterday and today so far also price not able to break resistance based target, if break and close above we can see it can do above targets alsoNote
Closed above resistance based target which it was unable to close above after hitting the target so we can see more pace towards higher mention target on chart, for this check above updateNote
Targte update-:Target two also arrived mates, Cheers !!
And now taking resistance
If break this resistance break target and close above we can see last and final target very soon, getting proper trend reversal signs will post an other idea for it after confirmations
Note
After completing two mention targets on chart it seems that it will touch and bounce from it's target 1 resistance which could be act as a support now
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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.