Potential Set-up on AUDCHF

Dec 18, 2017

AUDCHF is now approaching this sweet spot.
We have SMA 200 dynamic support waiting to be tested and the Demand zone/Turncoat support also waiting to be tested in confluence.
There are two ways price can behave around this confluence region to trigger a trade.
FOR A BUY TRADE
1. Price enters the zone and test the demand zone and SMA 200 but fails to close below them.
Price then reverse above the zone and form a bullish inside bar with the mother bar lower wick touching the SMA 200.
FOR A SELL TRADE
2. Price enters the zone and break the confluence zone successfully
Price then reverse for a retest after the breakout
Bearish inside bar formed at the failure of the retest.

Dec 20, 2017

Order cancelled

We have a bullish move out of the zone without our price action criteria.....