AUDCHF - Ignore Entry level - read below.
Daily Chart - Price has rejected resistance at 0.63888 and pulled back.
4H Chart - Shows greater detail of the pullback into the 4H50EMA.
1H Chart - Price pulled back into the 1H200EMA and is now sat just below the 1H50EMA.
What we need to take this trade;
(1) Break, close and retest of the 1H50EMA which will also give us a break and close above the 1H8&21EMAs.
(2) Indicators to be on side.
Target profit at previous resistance of 0.63888 with stop loss to suit.
Please note that this is my interpretation of the charts and should not be followed blindly. Good luck and trade safe.
Renaldo holder1 hours ago
Break Close Retest
Wait for Break close and retest of the trendline for confirmation to the down side. EJ has failed to break above the 50% pullback of the previous momentum downward. Also this level corresponds to a major daily resistance. With market sentiment in risk off mood, the bias is there to the downside to the TP of 122.400. Nice risk to reward ratio. Good luck guys.
Renaldo holder2 hours ago
Possible Naked Trade
See the instructions on the chart. Nice risk to reward ratio. MArket sentiment risk off should support this trade in term of directional bias. There is a TP2 @ 112.200 if TP1 is hit, I will be placing my SL at TP 1. Good luck
FxNovi3 hours ago
Bullish Engulfing Bar at a level of significance but not a new low.
Possibly period of risk-off is why I have gone with this.
Entry Buy Stop Order at 1.32280
Stop Loss at 1.31000
If TP1 is hit at 1.33626 move stops to break even. TP2 at 1.35000