AUDCHF H4 - Double Bottom Formed, Neckline Pullback Entry
A DOUBLE BOTTOM has formed on 4 hour chart of the 
AUDCHF.
We noticed this a tad late and have already had a break of the neckline resistance at 0.76630. Sometimes if we miss an opportunity to enter on the break, we can catch the entry on a dip off the broken neckline. Many times there will be a pullback towards the previously broken neckline - which we can see represented in the shadow of the final 4 hour candle this week. There was some downward pressure looking to get back to that resistance point.
Here is the set-up:
ENTRY
Place a BUY LIMIT ORDER around 0.76635 to be ready for a pullback and bounce.
STOP
We can see that 0.76000 offered some good support - so 0.76000
TARGET
Target #1 - 0.77090
Final Target - 0.77410
SUMMARY
We believe thatAUDCHF is BULLISH in the near term. So if we get a dip then buying on this pullback seems like a good opportunity.
AUDCHF.We noticed this a tad late and have already had a break of the neckline resistance at 0.76630. Sometimes if we miss an opportunity to enter on the break, we can catch the entry on a dip off the broken neckline. Many times there will be a pullback towards the previously broken neckline - which we can see represented in the shadow of the final 4 hour candle this week. There was some downward pressure looking to get back to that resistance point.
Here is the set-up:
ENTRY
Place a BUY LIMIT ORDER around 0.76635 to be ready for a pullback and bounce.
STOP
We can see that 0.76000 offered some good support - so 0.76000
TARGET
Target #1 - 0.77090
Final Target - 0.77410
SUMMARY
We believe that
AUDCHF is BULLISH in the near term. So if we get a dip then buying on this pullback seems like a good opportunity.Dagangan aktif
Larger pullback than expected but seems to be heading back on track for our mid term play.Nota
Target #1 coming into sight, just need another push up over the next few sessions.Nota
Target #1 Reached.Closed out 60% of our OPEN LONG position and moved SL to just above break even.
We will look to close out 50% of our remaining position on a touch of 0.77270 and leave the other 50% to ride and trail with a 30 pips trailing stop.
Nota
Move STOP LOSS to 0.76785Protect little bit of profit.
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.