CHFAUD trade ideas
AUDCHF 4 Hour Analysis (17th May 2023)AUDCHF Trading Ideas
1. Its in long time Down Trend, but we observe some
change of characters (CHoCH), we have to wait.
2. price is following fib levels
3. Price is in recent support and demand zone
(Expecting bullish if it takes the support)
(Expected bearish if breakour happens but we have to
wait for confirmation and retracement)
AUDCHF SHORTIn 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.
Long On AUDCHF Buy Entry On AUDCHF
As A Trader I Completely Believe On Sentence " TRADING IS SO SIMPLE (If We Stay Consistent & Discipline With Our Strategy) BUT NOT EASY (If We Start Breaking Our Trading Strategy Rule.)"
"Below All Conditions Are Meet To Take Buy Entry On AUDCHF"
(1) Entry Price - 0.63614
(2) Stop Loss - 0.63354
(3) Take Profit - 0.64368
TIMEFRAME - 1 HOUR
Here I'm Going To Explain My Own Strategy Step By Step With The Help Of Word - "CEST - B" Where ,
"C" Stand For - CONDITION
(1) RSI For Long Entry - I Want RSI(14) In Oversold Area(30Level).
(2) RSI For Short Entry - I Want RSI(14) In Overbought Area(70Level).
(3) Candlestick For Long Entry - Need Bullish Big Shadow candle When RSI Is In Oversold Area.
(4) Candlestick For Short Entry - Need Bearish Big Shadow candle When RSI Is In Overbought Area.
(5) We Need Regular Divergence If RSI Is Not In Overbought or Oversold Area When Big Shadow Candle stick Form.
"E" Stand For - ENTRY
(1) For Long - Opening Price Of Previous Candle Of Bullish Big Shadow.
(2) For Short - Opening Price Of Previous Candle Of Bearish Big Shadow.
"S" stand For - STOP LOSS
(1) For Long - ATR(14) Of Bullish Big Shadow + Distance From Entry Price To Low Of Bullish Big Shadow + 2Pips Extra ( Spread).
(2) For Short - ATR(14) Of Bearish Big Shadow + Distance From Entry Price To High Of Bearish Big Shadow + 2Pips Extra ( Spread).
"T" Stand For - TAKE PROFIT
Take Profit Will Be 2.9 Times Of Our Risk Which Means If Our Risk On Single Trade Is 3% Then Take Profit Will Be 8.7% .
Risk - Reward Ratio - 1:3
"B" Stand For - BREAK-EVEN
(1) For Long - If RSI(14) Reach To Overbought Area We Will Move Our Stop Loss To The Break-Even.
(2)) For Short - If RSI(14) Reach To Oversold Area We Will Move Our Stop Loss To The Break-Even.
NOTE - Consistency & Discipline Is A Key Element Of Success.
Long On AUDCHF Buy Entry On AUDCHF
As A Trader I Completely Believe On Sentence " TRADING IS SO SIMPLE (If We Stay Consistent & Discipline With Our Strategy) BUT NOT EASY (If We Start Breaking Our Trading Strategy Rule.)"
"Below All Conditions Are Meet To Take Long Entry On AUDCHF"
(1) Entry Price - 0.63758
(2) Stop Loss - 0.63578
(3) Take Profit - 0.64279
TIMEFRAME - 1 HOUR
Here I'm Going To Explain My Own Strategy Step By Step With The Help Of Word - "CEST - B" Where ,
"C" Stand For - CONDITION
(1) RSI For Long Entry - I Want RSI(14) In Oversold Area(30Level).
(2) RSI For Short Entry - I Want RSI(14) In Overbought Area(70Level).
(3) Candlestick For Long Entry - Need Bullish Big Shadow candle When RSI Is In Oversold Area.
(4) Candlestick For Short Entry - Need Bearish Big Shadow candle When RSI Is In Overbought Area.
(5) We Need Regular Divergence If RSI Is Not In Overbought or Oversold Area When Big Shadow Candle stick Form.
"E" Stand For - ENTRY
(1) For Long - Opening Price Of Previous Candle Of Bullish Big Shadow.
(2) For Short - Opening Price Of Previous Candle Of Bearish Big Shadow.
"S" stand For - STOP LOSS
(1) For Long - ATR(14) Of Bullish Big Shadow + Distance From Entry Price To Low Of Bullish Big Shadow + 2Pips Extra ( Spread).
(2) For Short - ATR(14) Of Bearish Big Shadow + Distance From Entry Price To High Of Bearish Big Shadow + 2Pips Extra ( Spread).
"T" Stand For - TAKE PROFIT
Take Profit Will Be 2.9 Times Of Our Risk Which Means If Our Risk On Single Trade Is 3% Then Take Profit Will Be 8.7% .
Risk - Reward Ratio - 1:3
"B" Stand For - BREAK-EVEN
(1) For Long - If RSI(14) Reach To Overbought Area We Will Move Our Stop Loss To The Break-Even.
(2)) For Short - If RSI(14) Reach To Oversold Area We Will Move Our Stop Loss To The Break-Even.
NOTE - Consistency & Discipline Is A Key Element Of Success.
AUDCHF 1H PROJECTIONDISCLAIMER: The Company accepts no accountability or obligation for your trading and speculation results, and you consent to hold the Company innocuous for any such outcomes or misfortunes. We are not financial advisers or account managers; We are Forex traders. The recordings on this channel are rigorously for educational and amusement purposes. Trading Forex implies dangers, and you can lose all your venture ; consequently, you exclusively must take a chance.
AUDCHFWe saw AUDCHF Long Because AUDCHF Moved in Ascending Channel, and AUDCHF Bullish Trend, so we decided to Buy AUDCHF. We set our entry point at XXXXX, our stop loss at XXXXX and our take profit at XXXXX. We chose these levels based on the support and resistance lines of the ascending channel, as well as the bullish trend of the currency pair. We will monitor the market closely to determine when to exit the trade.
🔥An uptrend is about to continue!There are several reasons for that:
1️⃣The price is trading inside the bullish wedge
2️⃣The price is trading above the lower border for the ascending channel
Wait for price to react on the lower border of the pattern before you go long on the pair
Targets: 0.64600, 0.64700, 0.64900