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 :)
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.