Hi Traders! AUDCHF short term sell opportunity forming at the moment. A detailed analysis of this sell setups is as follows:
AUDCHF H4 Chart:
On the H4 chart the price which is moving lower has created a good downtrend line. The price is respecting this dynamic resistance so far. We may now expect the price to respect the trend line and move lower again. Look for evidences of bearish pressure on lower timeframes and then we may start looking for short term sells.
AUDCHF H1 Chart:
On the H1 chart we have a hidden bearish divergence that has formed which we may consider as an evidence for bearish pressure. Currently the price is moving inside a bullish channel, this channel is formed by the highs and lows reaching similar resistance and support zones. Price is respecting these two zones so far. We may now look for more evidences of bearish pressure and once we get confirmations we may then start looking for short term sells.
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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