AUDCHF Short Term Bearish Opportunity Forming
Hi Traders! We have AUDCHF short term bearish opportunity forming at the moment. A detailed analysis of this sell setup is as follows:
AUDCHF H4 Chart:
On the H4 chart the price which was moving higher has created a special cycle, currently it looks like this special cycle has completed itself. In addition to this we also have a good resistance zone that has formed, the price has reached this resistance zone and is currently moving lower. We may now look for more evidences of bearish pressure on lower timeframes in order to look for short term sell opportunities.
AUDCHF H1 Chart:
On the H1 chart the price has created two false breaks with bearish divergence and then the price moved lower and created lower lows thus forming a bearish convergence for us, we may consider these as evidences of bearish pressure. As per the book scenario we may now expect pullbacks to happen and currently it looks like a pullback is happening. We may now look for more bearish evidences in order to join the bears.
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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