AUDCHF's possible return to top half of fork = long opportunity?
Context: see my first comment.
Long AUDCHF at 0.8698 (clearing midpoint of latest CD and immediate prior high), stop 0.8399. (Intraday charts could offer tighter stop placement.)
Targets
-nearby: 0.8989 (likely turquoise resistance on sliding parallel) RRR: 1.7
-intermediate: 0.9600 (blue dotted upper quartile) RRR: 3.7
Rationale: AUDCHF's steep decline seems to have petered out in two ABCD patterns with failed CD legs. A bullish AB rally followed, which could yield CD follow-through taking AUDCHF across the blue ML, back into it's preferred upper half of the better-validated blue fork, to sliding parallel resistance or beyond.
Disclosure: I'm a newbie & I just made this up. Feedback welcome & best of luck :)
Long AUDCHF at 0.8698 (clearing midpoint of latest CD and immediate prior high), stop 0.8399. (Intraday charts could offer tighter stop placement.)
Targets
-nearby: 0.8989 (likely turquoise resistance on sliding parallel) RRR: 1.7
-intermediate: 0.9600 (blue dotted upper quartile) RRR: 3.7
Rationale: AUDCHF's steep decline seems to have petered out in two ABCD patterns with failed CD legs. A bullish AB rally followed, which could yield CD follow-through taking AUDCHF across the blue ML, back into it's preferred upper half of the better-validated blue fork, to sliding parallel resistance or beyond.
Disclosure: I'm a newbie & I just made this up. Feedback welcome & best of luck :)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.