The AUDCHF bears have finally initiated a price pullback this week after failing to even retest the 0.61 level at least.

As a result, my July 5’s short trade plan has exited in profit after holding for 12 days and 5 hours:

https://www.finlogix.com/analysis/20240705/xrp-intraday-analysis-and-trading-plan-for-july-5-2024

A new overall record of 1 win and 0 loss.

There are 2 high impact economic reports in Australia tonight while none for Switzerland this week.

Re-assessing AUDCHF’s high timeframe candles:

Yearly Candle: Last check is a Green Body with a Longer Tail Wick now a Green Spinning Top

Monthly Candle: Last check is a Green Body with a Longer Head Wick now a Red Long Upper Shadow

Weekly Candle: Previous close is a Green Shaven Bottom current is a Red Spinning Top

Daily Candle: Previous close is a Red Shaven Bottom current is a Green Body with a Longer Tail Wick

In today’s analysis, I’m referencing again the complete downward move from May 20 to June 18 swing high to low move as the retracement points of view.

Monday’s Gravestone Doji candle depicting a clear failure on the 78.60% fib level has been the bearish signal for my pullback bet and it did.

Although I commend the AUDCHF buyers for trying their best to push the up wave since June 18.

As of now, I’m seeing a strong sell side liquidity run-off here with multiple 4H bearish FVGs printed out.

Price approaches soon to the nearby bullish FVG which is a good buy zone in the making.

In today’s trade plan, I’m going to open an AUDCHF long position through the 4H bullish FVG with a take profit intention towards the 50% fib level upon bounce off.

Just in case this bullish FVG gets a complete retracement, I’ll be putting the stop loss within that retracement.

Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top tier banks via ACY Connect.

A further respect on the 4H bearish FVG above shall give the long trade more chances to be hit.

All trade ideas I share are my own views and for my own trades only.

AUDCHF Intraday Analysis and Trading Plan For July 5, 2024

Jul 18 2024

Stop Loss -0.68%

Holding time 1d16hr

0.59100

Entry price

0.58699

Stop loss price

1

1