Hi Traders! We have AUDCHF sell opportunity update and follow up. In the previous post here I mentioned “On the H4 chart we have a good uptrend line that has formed and the price which was moving higher, reached a critical zone, moved lower and broke below this dynamic support. We may now look to sell pullbacks with bearish evidences”. Lets see how this setup has developed now.
AUDCHF H4 Chart:
On the H4 chart the price moved exactly as per our plan, it moved higher, reached the critical zone and created the pullback that we were looking for. In addition to this the price has also created bearish hidden divergence which we may consider as an evidence of bearish pressure. Hence we may now start looking for sells with more bearish evidences.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.
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