Audchflong
AUDCHF - LONG AUDCHF seems to give a reversal signal regarding the RSI and price pattern.
In my point of view, AUDCHF is still considered as a downtrend, thus trading opposite the trend should be done in a short period of time, "Hit and Run".
Reward/Risk is about 1.5, which is still convincing.
!**Disclaimer**! the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
AUDCHF - FOREX - 30. DECE. 2019Welcome to our weekly trade setup ( AUDCHF )!
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1 HOUR
Bearish price action and drop towards our support.
4 HOUR
Bullish market in a small pullback.
DAILY
Overall bullish market with good long entries.
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FOREX SETUP
BUY AUDCHF
1ST ENTRY @ 0.67850
2ND ENTRY @ 0.67750
SL @ 0.67570
TP @ 0.68140
RR: 1.1 / 2.35
Use 0.5% risk per Entry!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
AUD/CHFWEEKLY TIMEFRAME
AUD/CHF has been in a downward trend for a while and currently we see price consolidation within a range between HIGH =0.68400 and LOW=0.66900
and respecting the 61.,8% fib level of the previous lower high.
Also we see a clear support in the weekly timeframe which gives us a possible bounce to test the resistance level around =0.68400 which is the lower high price which rejects the 61.8 fib level in weekly timeframe
DAILY TIMEFRAME
From the consolidation region we clearly see price breaking market structure temporary . meaning we might see a shift in momentum to the upside for a potential long position.Also price found clear support on weekly and we see price reject the support with high momentum.
H4 &H1 TIMEFRAME
After confirming a shift of momentum, we see price sitting at 61.8% retracement after a short bull run. and also respecting the support level of the broken resistance and also the weekly support
our AUD/CHF LONG
target1=0.68200
target2=0.68800
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