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Australian Dollar / Swiss Franc

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AUDCHF trade ideas

⚡️AUDCHF CMC TRADING ⚡️ FALLING WEDGEAUDCHF has retraced to the upper boundary of the channel, coinciding with a significant key level established on the daily timeframe. Our anticipation revolves around a potential reversal towards the lower demand zone identified previously, prior to any potential rally. Should the bullish momentum persist, a breakout above may materialize. However, it's crucial to await confirmation of a breakout on both the channel and the key level before expecting an upward rally.
Long
by ChampsMoneyConcepts
AUD CHF ...will we see a bullish breakout?Hi Guys, The AUD/CHF pair has been in a pretty long downtrend as of late but having had a good look at the weekly and daily chart, this pair is showing some really nice bullish characteristics, indicating a possible strong move to the upside. The three dashed black lines are shaping into a VCP (Volatility Contraction Pattern, coined by Stock Market Wizard Mark Minervini). Essentialy this pattern is the formation of a wedge with lower highs and higher lows and a breakout above the pivot point or downsloping wedge line. The horizontal red line along the lows is the first reason I have enter long on this pair as it is entry to a basic strategy I use in all markets, which I alluded to in a previous article called 5 wick rejection. Basically cutting along 5 wicks at any swing high or low/ potential correction reversal points on a chart. The fact that it has printed on a weekly chart makes it more appealing as all patterns are, I suppose due to the time taken for them to happen. Some rea,ly powerful moves come when this strategy works and allows for a nice risk/ reward with not too much analysis involved. On this occasion though, I can see confluence with the pair making higher lows and printing essentialy a triple bottom, with strong green candles at every low, indicating buying pressure. The 50, 100 and 200 daily MAs are flattening out and price is moving closer to the long downward sloping trendline. I probably would have looked for an entry at this point if I hadnt used the strategy for entry reason just to get an early entry/ tighter stop loss in anticipation of a break through the wedge/vcp breakout and the downward sloping trendline. I haven't traded in the forex market for very long so I am not too sure if volume profile is interpreted in the forex market during pullbacks/consolidation as it is in the stock market but there has been some drying up of volume during this consolidation which is one of the key things to look for during a vcp pattern added with high volume during the breakout. Would really like to get any opinions about this idea from others as I can see from other articles published on this site there are many talented traders on the Tradingview community with a wealth of knowledge. Hope this info was useful to some and as always please ensure you use sound risk management before entering any trade Safe trading all.
Long
by elyask120
Short in AUDCHF- Absolutely! Here's the text adjusted to reflect a long position on AUDCHF instead of USDCAD: I have initiated a long position on AUDCHF following a price touch on a key demand zone. After comprehensive analysis of the AUDCHF chart, I've pinpointed a compelling entry point for a long trade. The price action recently dipped into a crucial demand zone marked by a concentration of buy orders. This area signifies a potent support level where previous buyer activity suggests a high likelihood of an upward reversal. Moreover, the confluence of additional technical indicators strengthens this trade setup. The demand zone coincides with a pivotal Fibonacci retracement level, amplifying its significance and bolstering the bullish potential. Furthermore, the Stochastic oscillator indicates oversold conditions, further supporting the anticipation of a near-term reversal. Based on these factors, I've executed a long position on AUDCHF, intending to exploit the anticipated upward movement. I'll vigilantly monitor the price action for confirmation signals like bullish candlestick patterns or breaches of critical resistance levels. Stringent risk management strategies will be implemented to safeguard my capital and ensure optimal trade execution. As a professional trader, maintaining discipline and adhering to my trading plan is paramount. I'll continually assess market conditions and adapt my strategy accordingly, always prioritizing risk management and pursuing consistent profitability.
Long
by JuanHernandez