AUDCHF Offers Buy Opportunity After A Bearish Cycle

2
61
AUDNZD Double Scenario Updates and Follow Up

Hi Traders!

AUDCHF offers buy opportunity on the H1 chart after the pair completed a bearish cycle on the D1 chart. We have been following it for some time now and finally a setup is presenting itself.

AUDCHF D1 Chart

Special cycle that comes with divergence and as an extra confirmation we have a great supportive zone (two horizontal lines on the chart below). As expected, price is reacting to this level and if it manages to hold above it, we will try to join.

AUDCHF Offers Buy Opportunity After A Bearish Cycle

 

AUDCHF H1 Chart

Bullish convergence is already a fact. Wait for a small correction towards 38.2% down to 50% fibonacci retracement and go long.

AUDCHF Offers Buy Opportunity After A Bearish Cycle

Move the stop loss to break even once you have reached risk:reward ratio of 1:1.

Target 1 – 0.7350.

Target 2 – 0.7430.

Target 3 – 0.7520.

Protection below 0.7240.

 

Yours,

Vladimir

SHARE

2 COMMENTS

JOIN THE CONVERSATION - I ALWAYS REPLY (VLADIMIR)

Please enter your comment!
Please enter your name here