Audchfshort
AUDCHF H1 LONG PRICE ACTION FORECAST With price bouncing apart from a rising trendline from D1, it has found consolidation form the Fib level 5.0. Overall looking for the pair remains bullish.
In H1, MACD bullish bias supports the short trend. Now if price action can manage the breakout of the current level a buy-stop entry can be placed, allowing the following setup:
Price action in a pullback
The order:
Type: buy-stop
S/L: 37 pips - R:R | 1:2 -
T/P: aiming at the resistance level in confluence with the 200MA
AUDCHF SellOnce price close below this resistance level we can expect price to continue pushing down, a possible retest can be done depending on the strength of the market during Asian session back to London.
I've already entered this trade, if retest should be done, feel free to enter with proper risk management.
AUDCHF H4 SHORT PRICE ACTION FORECAST Although price action was able to bounce back from the 50EMA, the bearish momentum in the pair remains. MACD is showing a strong downtrend momentum for bearish bias confirmation.
To capture this bearish bias, a sell-top entry could be placed, allowing the following setup.
Price in consolidation after a bounce from EMA
The order:
Type: sell-stop.
S/L: 63 pips - R:R | 1:2 -
T/P: aiming for the previous resistance level
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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.
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