FX:AUDCHF
As you can see that, AUDCHF Has created a Channel Pattern in 4Hr Time Frame and buy when it touches the drawn support level with a good rejection candle or creates hammer candle, If it breaks the support level then we can plan for sell side. This set-up is for monday (04-09-2023), Plan your trade accordingly....
In the 30 minute chart, we have drawn a sliding parallel channel. It is apparent that the Swiss Franc is strengthening against the Australian Dollar. This fluctuation also correlates to the news of the UBS-Credit Suisse merger.
Anyone can open a short position and profit as long as price movements are contained within a sliding parallel channel.
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We forecasted and shared our view of AUDCHF. Where we were looking at 2 possible areas from where we can get into a short position. As the first area was violated the second and premium area worked out as we wanted.
Not only that, the market gave multiple opportunity to enter the trade ✅
The analysis gave us -
117+ PIPS, 1:4.6+ Risk to Reward Ratio!
Hello Traders,
Hope you all are doing good!!
I expect AUDCHF to go down after finishing the correction.
Look for your SELL setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can...
AUDCHF has been spotted in rising wedge which is a bearish pattern with bias to break to the downside.
Entry is around 0.65650 and take profit at 0.65350, roughly around 30 pips profit.
Good luck!
Tibor
