Audchf D1 Consolidation Break Out !
If you a wondering what to do with this pair you are not alone. This is why it is important to have rules for your strategy.
According to my strategy price is currently consolidating, which is not necessarily a bad thing. It means sometime in the near future we can expect a big move. Based on the on the weekly chart i have a sell bias on this pair and would love to see a move to the support that has no been retested. However, it would be unwise to ignore the upward direction that audchf has been going on the D1 chart.
So in conclusion, what i will be looking for is a break and retest of the range price has been consolidating in and then i will be monitoring price action on lower time frames looking for a retest of the broken structure before placing a trade.
Dont forget to like and comment if you have any questions.
According to my strategy price is currently consolidating, which is not necessarily a bad thing. It means sometime in the near future we can expect a big move. Based on the on the weekly chart i have a sell bias on this pair and would love to see a move to the support that has no been retested. However, it would be unwise to ignore the upward direction that audchf has been going on the D1 chart.
So in conclusion, what i will be looking for is a break and retest of the range price has been consolidating in and then i will be monitoring price action on lower time frames looking for a retest of the broken structure before placing a trade.
Dont forget to like and comment if you have any questions.
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