AUDCHF bottoms huge selldown. Smart-Money enters. BUY

3 dic

https://www.tradingview.com/x/fExdGH5z/

I kept looking at this for a long time to see if this was a fake bounce off the bottom.

The so-called smart money gets in first. Think big banks and the mates of these people in the know, good luck to them.

I try to get into a trade at the same time,

BUY break above 0.5737.

BUY NOW ABOVE 0.5737:

Here is the confluence.

3 dic

Operación activa

Enter Buy Trade on AUDCHF:
Buy now at a break above 0.5737. Or set a Buy-Stop Order for 0.5737
SL: right under low of structure 0.5711
TP1: 0.5816

Check in down below in notes for updates.
Or
If I need to unexpectedly close this trade, I will be doing so right here.
Either way, NOTES is where all the updates will be located.

3 dic

Nota

If you wait until this hourly candle closes above 0.5737 that is an even better confirmation. What generally happens is that key levels trigger & then quickly skip back a little, but sorry I should've mentioned to wait another short while for this hourly candle to close at a price above 0.5737. Or you could drop to a lower timeframe and do this same process.

3 dic

Nota

But Chris, isn't that a bearish pennant at the bottom of your screen?
Well, it sure is, but they never said trading was easy.
What about this one?

3 dic

Nota

It's the 4HR order blocks above which are a little concerning. To me they look more like Sell-Order Blocks. But I think that the big banks got long down at the bottom. Why would they sell so soon?

3 dic

Nota

I like the Daily Chart setup the same as 1HR chart.
When macd , stochastics' have reset and are aligned scooping under price, especially Stochastics' scooping under price right at its 20 level where we want to see that number increase on Stochs' Hourly & Monthly (and as many timeframes concurrently as possible - including weekly, there is the sweet-spot to a massive Long-rally). That is how I like to trade. Taking something that is beaten down and oversold and watching it transform to its former glory. Buy low and sell high.

3 dic

Nota

Daily Chart:

3 dic

Nota

Very short time frame snap of a setup that led straight to my buy price above 0.5744

3 dic

Nota

Monthly chart: Look at previous ATH > 1.00
Look at the massive W-Bottom at commencement of screen on Monthly.
Double Bottom or in this case a fully-blown W-BOTTOM is forming. Bullish.

3 dic

Nota

3 Month Chart: Wow, confluence that supports exactly what is occurring on a 1Month-candle chart.
See how, you've got a supporting theme on the very high time frames that paint a story often of where price may-be in a a couple of years. You avoid all the 'noise' of intraday and the HTF are more accurate of where price might get to in 2025, to me, from what I see so far AUDCHF is set to move much higher.

4 dic

Nota

Price more chance of breakingOUT soon as it sweeps past 0.5750.
Price is travelling comfortably in a rising wedge pattern. Right up to 30 minute timeframe.

4 dic

Operación cerrada: precio stop alcanzado

I never got stopped out as I accumulate these sort of trades, but I know that this trade went against the Stop Loss yesterday, so I will close it manually. AUDCHF is making moves again today but I will close this down.

5 dic

Nota

goldprice.org/live-gold-price.html

7 dic

Nota

Also, price will soon turnaround and here is why.
Remember the 4HR chart , shown above, contained a 'topping-formation' and price sold off as happens a lot with double tops etc.
Well price is at the bottom of this structure on the 4hr , it will be pulled a bit lower I think to test 0.53 previous low, but also on the 4hr price will be keen to snap-back and rally to the long side. As price turns in this fashion will be the start of the Long trade i will take.