AUDCHF RE-VISIT | LONG TERM VIEW

Tendency: Uptrend ( Bullish )
Structure: The Three Drive Pattern
Observation: i. Three lower Lows indicated on the chart as Drive 1, 2 and 3 signals a potential reversal.
ii. Confirmation of an approximate of 0.618/0.786 retracements drives.
iii. An engulfing candle from the 0.65000 zones confirms the uptrend as corrections stalls at the 0.66600 support.
iv. Price gaining momentum towards Moving Averages.
Trading plan: BUY now or at the completion of correction into 0.66600 zone with TP1, TP2, TP3 and TP4 (725pips) and SL @ 0.64000/0.0.62000zone.
Risk/Reward: 1/3
Potential Duration: 15 to 25 days

** Please note that Stop Loss is subject to individual risk appetite per trade and account size.


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