The triangular flag with the bearish price which moved down, clearly show a bearish chart pattern indicating a bearish continuation in price to the downside.
On the daily time frame chart, the price of AUDCHF has been spotted forming a bearish continuation chart pattern which is yet to breakdown from its support level.
The bearish pennant flag pattern is measured by taking the height of the pole, drag it toward the below the support of the triangular shaped flag.
This gives trader an insight on the levels to take price and possibly close the trade.
Simply following the rule, by waiting for the candlestick body to close below the flag, this will make the pattern to be valid.
Breakdown level: 0.67381
Support 1: 0.67133
Support 2: 0.66777
Support 3: 0.66332
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice.
On the daily time frame chart, the price of AUDCHF has been spotted forming a bearish continuation chart pattern which is yet to breakdown from its support level.
The bearish pennant flag pattern is measured by taking the height of the pole, drag it toward the below the support of the triangular shaped flag.
This gives trader an insight on the levels to take price and possibly close the trade.
Simply following the rule, by waiting for the candlestick body to close below the flag, this will make the pattern to be valid.
Breakdown level: 0.67381
Support 1: 0.67133
Support 2: 0.66777
Support 3: 0.66332
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice.