AUDCHF - SELL IDEA
In the AUD/CHF 45-minute chart, we see a strong indication for a potential short setup. The pair appears to have completed its corrective wave (b) and is now poised to continue its downward move into wave (c). The Fibonacci extension levels provide clear targets, with the 0.618 level at 0.56986, the 1.0 level at 0.56567, and the 1.618 level at 0.55888.
These levels offer possible areas where the price might find support as it moves lower. Traders looking to enter a short position could use these levels as potential take-profit points, aligning their strategy with the continuation of the downtrend. It's crucial to monitor price action as the pair approaches these levels, watching for signs of reversal or continuation.
These levels offer possible areas where the price might find support as it moves lower. Traders looking to enter a short position could use these levels as potential take-profit points, aligning their strategy with the continuation of the downtrend. It's crucial to monitor price action as the pair approaches these levels, watching for signs of reversal or continuation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.