AUDCHF BULLISH CONTINUATION SETUP
Hi Traders,
The AUDCHF reversed from a major descending channel and horizontal support level and made an impulsive move higher labeled "Wave 1 or A," which broke out minor descending trend line and resistance level.
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This pair seems to completed building bearish ABC zigzag corrective chart pattern labeled "Wave 2 or B," at an important confluence level which could indicate a continuation of the uptrend.
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Considering that the price has broken our CTL after reversing from the confluence area, this pair has met our criteria for long entry.
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The take profit levels are projected on the chart accordingly.
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Best of luck on the chart,
Veejahbee.
The AUDCHF reversed from a major descending channel and horizontal support level and made an impulsive move higher labeled "Wave 1 or A," which broke out minor descending trend line and resistance level.
.
This pair seems to completed building bearish ABC zigzag corrective chart pattern labeled "Wave 2 or B," at an important confluence level which could indicate a continuation of the uptrend.
.
Considering that the price has broken our CTL after reversing from the confluence area, this pair has met our criteria for long entry.
.
The take profit levels are projected on the chart accordingly.
.
Best of luck on the chart,
Veejahbee.
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