THE PAIR BROKE THE WEEKLY UP TREND AND NOW TESTING 4H UP TREND , IF BREAK WILL GO DOWN TO THE NEXT WEEKLY UP TREND IF NOT WE WILL SEE SMALL CORRECTION THEN GO DOWN .
The pair has been moving inside the channel and now going to test for the third time the lower trend of the channel break or reverse !!
The pair is forming this XABCD Pattern ( I am a beginner may be its not correct but as the basics of technical analysis i think the formula is correct ) so the pair is near to a daily up trend and MACD + RSI will cross to up trend and the 200 EMA is down the bars so testing the trend that is also near to 50 % Fibo it will turnd up to complete the pattern . Check...
AUDCHF Broke the up trend of the channel Check List for Entry Check List: - 1- Trend Condition (Broke the Down trend of the upper channel) 2- MACD + RSI Condition (Crossed down) 3- MA 100 EXP -0.03% + MA 200 Simple Condition (Crossed down) Sell trade 0.7390 SL 100 PIP TP 1: 0.7250 TP 2: 0.7150 TP 3: 0.7040
The pair has been going into the daily channel , now its at the up trend of the channel to test for the third time . break or reverse ? we will wait for confirmation .
LONG CADJPY FOR TESTING VERY NEAR OF AN UPTREND ON 4H CHART INDICATORS ARE HEADING UP ON THE 5 MINUTE CHART NOW SO ITS GOOD ENTRY SL : 40 pip TP : 85.00