Initiated a long position on AUDCHF, aligning with the trend from the daily support zone. The daily candle's robust reaction signals a strong potential for reversal. Upon analyzing the 1-hour chart, several indications support this trend, including a double bottom and a trend line that previously acted as resistance but is now being crossed, providing a strong buying signal. Both pattern necklines have broken above, and I'm currently awaiting a retest.
Entry: 1.5738,
Stop loss: 1.5710,
Targets: 1.5781, 1.5810, 1.5840, and 1.5859.
Entry: 1.5738,
Stop loss: 1.5710,
Targets: 1.5781, 1.5810, 1.5840, and 1.5859.