Looking at the AUDCHF today, a chart I’ve been keeping a close watch on because of the major weekly level we’re dealing with at the moment.
Last session price finally moved up to test the level, were it was rejected heavily and close a bearish rejection candle on the New York Close price charts.
The anatomy of the candle looks good with the large bearish body and the closing price on the low of the candles.
The fact this reversal signal is coming off such a strong weekly level is also a big plus here.
Price got pretty wild as soon as the new daily candled opened, mostly because of the RBNZ event. A retracement order would have been filled already for anyone who was quick, but I am waiting to see if the market retraced back up again.
This is some refreshing price action in contrast to the horrible slow summer trading grind we’ve been experiencing.
Best of luck on the charts 🙂
Mario
I got this one! ???????? I just can’t waiting to start with war room! Thank you Dale for making trading seem easy. Even though the market is being so choppy lately.
Tambee
When you shared this, i didnt hesitate to follow your signal, and now thanks to you I have made some profits. Many thanks forexguy. Hope you would continue to shine us with your knowledge. Much appreciated.
Akram Kamik
Wow…I Follow the signal…the trade give me a lot of profit now…thank you mr..
Alexa
Good and patient for the next candle…..
Thanks a lot
Federico
Horrible price actions In the market so far in this summer market session … Completely agree with you. I spot this trade as well. Many other AUD pairs show weakness in the AUD.
Hopefully choppiness is over. Waiting for a retracement as well to pivot.