Potential Upthrust in AUDCHF - Monitoring

Potential Upthrust in this area.
Waiting for a 3-wave correction for a valid Upthrust.
Then a good entry bar will be needed for a trigger.
Notice Stochastic enter overbought so good for confluence.

Sett spot trade is also possible, but looking for people to be trapped.

Commentaire:

Price moved strongly up so no good place to enter for a short. IF you look a the bigger picture 4H timeframe or 1H we have a very visible Gartley 222 pattern that is completing it's 161% extension target. Seems the price found support at the 161% extension level so now reacting up strongly. Observing.

Commentaire:

Now the price is at the previous high area. In the case of a strong entry bar, a short is possible. Risk to rewards is great for a swing trade with a target of the previous low or even the 161% extension of the recent pullback.