Potential bullish movement on AUDCHF

Feb 6, 2020

Price has been reached the historical support area and reversed immediately from that and broke the previous daily resistance.
Right now price has been touched the daily descending trend line. I am waiting for a little correction to the previous resistance zone which is going to act as support right now. After that looking for breakout of daily descending trend line with possible head and shoulder pattern.
Will update the idea for entry in case of break out.

Feb 7, 2020

Note

Price has been reversed from daily descending trend line as expected. As explained before, we will expect this bullish correction to finish on the support area which I indicated on the chart. Then the daily trend line breakout is expected.
I will update the idea accordingly.

Feb 7, 2020

Note

Price has been touch the the hourly ascending trend line as well as support zone and reversed up as expected. Will wait for the break out of the daily structure and confirmation of it to enter the long position.
Will update the idea accordingly.

Feb 11, 2020

Note

Price has been broke the daily structure. We are waiting for the hourly bullish corrective structure breakout to confirm the idea to enter the long position.
Will update the idea accordingly.

Feb 12, 2020

Note

Additional to the breakout on yesterday, price has been retested the breakout. However, there is a strong divergence on hourly charts which indicates more bearish correction even if the price moves upper.
That is why I have not post any trade details on this analysis yet.
Still waiting and trace the price action.
Will update the Idea