Hello Guy,
It's another trading week and I want to share my view on AUDCHF with you. Legggoooo!!!
If you take a look at the monthly timeframe, you will notice that price just reacted from a monthly orderblock.
If you drop down to the weekly timeframe, you will notice that price had created a bearish CHOCH and has retraced to the weekly supply OB from which we can expect a bearish continuation. You may also notice that we are currently at the neckline of the M pattern on the weekly chart.
On the daily chart, you will notice how price just took out a strong supply zone which caused a strong drop in price. You can also notice the W pattern and we should expect a retracement.
Now, I am monitoring price movement in the 1-hour timeframe to see if I can get my trade setup to go short.
Endeavor to keep this pair on your radar.
Follow for more updates like this.
Cheers.
Jabari
It's another trading week and I want to share my view on AUDCHF with you. Legggoooo!!!
If you take a look at the monthly timeframe, you will notice that price just reacted from a monthly orderblock.
If you drop down to the weekly timeframe, you will notice that price had created a bearish CHOCH and has retraced to the weekly supply OB from which we can expect a bearish continuation. You may also notice that we are currently at the neckline of the M pattern on the weekly chart.
On the daily chart, you will notice how price just took out a strong supply zone which caused a strong drop in price. You can also notice the W pattern and we should expect a retracement.
Now, I am monitoring price movement in the 1-hour timeframe to see if I can get my trade setup to go short.
Endeavor to keep this pair on your radar.
Follow for more updates like this.
Cheers.
Jabari
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