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🟢Forex Pair:
AUD/CHF
⚪Technical Analysis:
Since the beginning of December 2020, the price has been following a strong ascending channel, bouncing many times on its dynamic S/R lines.
On the 14th of January 2021, it reached an important resistance zone at about 0.69000, getting a strong rejection and failing its following attempt to break it.
Just few days ago, the price broke the ascending channel and yesterday it retested the same level without break it.
🔴Conclusion:
In the daily and weekly perspective I can properly see that the price reached an important zone that rejected the price many times, so I'm confident to see a clear trend correction and I'll be waiting for the breakout of the level 0.68200 before planning my short position on this trade.
Once I'll open my trade, my SL would be at about 0.68500 and my TP on the next support zone at about 0.67450.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
AUD/CHF
⚪Technical Analysis:
Since the beginning of December 2020, the price has been following a strong ascending channel, bouncing many times on its dynamic S/R lines.
On the 14th of January 2021, it reached an important resistance zone at about 0.69000, getting a strong rejection and failing its following attempt to break it.
Just few days ago, the price broke the ascending channel and yesterday it retested the same level without break it.
🔴Conclusion:
In the daily and weekly perspective I can properly see that the price reached an important zone that rejected the price many times, so I'm confident to see a clear trend correction and I'll be waiting for the breakout of the level 0.68200 before planning my short position on this trade.
Once I'll open my trade, my SL would be at about 0.68500 and my TP on the next support zone at about 0.67450.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
