Hi Traders,
AUDCHF has been consolidating since December in a larger channel which now the price is approaching the HTF upper boundary moving within a LTF corrective channel. If we look where the first impulse began, we can see that the price made a double top which then impulsively pushed down with a bearish continuation to give more room to fall. After a strong Impulse comes a correction and as we know, the more swing highs & lows it creates gives us confluence for another impulse movement.
Watch for a strong rejection with LTF bearish price action to catch the next impulse phase.
What's your view on this pair? Share a comment below.
Support me by clicking the like button If you feel this idea was helpful !
Trade Safe.
AUDCHF has been consolidating since December in a larger channel which now the price is approaching the HTF upper boundary moving within a LTF corrective channel. If we look where the first impulse began, we can see that the price made a double top which then impulsively pushed down with a bearish continuation to give more room to fall. After a strong Impulse comes a correction and as we know, the more swing highs & lows it creates gives us confluence for another impulse movement.
Watch for a strong rejection with LTF bearish price action to catch the next impulse phase.
What's your view on this pair? Share a comment below.
Support me by clicking the like button If you feel this idea was helpful !
Trade Safe.