Audchfshort
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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AUDCHF selling pressure builds up0.6365 marks a key level. Price surged above this level twice and then quickly reversed. We're clearly seeing selling volume as price is testing what's considered as both the 1-hour and 4-hour resistance.
At the same time, price is also failing to make significant highs. This entry is based on on the weak buying pressure that consists of a pull back after a bearish move.
AUDCHF short trade ideaPlan: wait for the price to bounce off from trendline or resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL
**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.
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Short AUDCHF on 4H If price breaks below 0.63379OANDA:AUDCHF Looking to sell if price breaks below 0.63379 level, as RSI is also showing weakness in strength so I am hoping it goes down from here onwards. If my prediction gets right, I will be taking intermediate profits and keep moving my stop loss downwards by securing my profits.