Audchfanalysis
Potential long AUDCHFAnalysis time frame - Daily
Long term context - Bullish
Significant levels - 0.70870 and 0.72260
Recent price action - in consolidation / corrective phase with a false break to the downside.
My bias - Bullish
Trade idea - Look (on H4 t/f) for a long entry at/around 0.70870 with target below 0.72260
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AUDCHF LONGlooking to take this entry on the 1hr time frame we can se that price has come from an impulsive push to the upside breaking through previous resistance,
price is currently in a symmetrical triangle structure that has made multiple touches respecting the trend lines
the current price action price has just made a second touch to the bottom trend line and formed a inverse head and shoulders indicating a push to the upside.
to confirm this entry i have waited for a impulsive candle and now currently seeing a 1hr tight flag with multiple consecutive candles.
target 1 will be looking at the orange box near the prevous high near a fib resistance level
foregoing the final target will be the top orange box at the .618 level
AUD/CHF BUY IDEAHey tradomaniacs,
welcome to another free trading-setup.
Notice: This is meant to be a preparation for you. As always we will have to waot for a confirmation!
AUD/CHF: Daytrade-Preparation
Market-Buy: 0.71370
Stop-Loss: 0.71035
Point of Risk-Reduction: 0.71755
Take-Profit: 0.72210
Stop-Loss: 34 pips
Risk: 0,5% -1%
Risk-Reward: 2,45
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Peace and good trades
Irasor
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AUDCHF BULLISH Continuation (Retracement Completed)Currently, we can see a strong BEARISH candle for AUDCHF bringing price towards our EMA. After failing to reject from our MA, EMA could be a possible level to watch. As of now, waiting for the confirmation candle to trigger us will be a good option. Having said that, if today's candle do not break the support level at 0.7055, BEARISH breakout will be less likely to happen. Some common misconception among us will be that there is a "H&S Pattern". If we look closely, the head will not be valid to consider this a H&S. With that, I am leaning towards a BULLISH climb to 361.8% fib level and potentially 461.8% fib level.
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