Aussie Dollar Swiss Franc

Good evening Dynamic Traders,

Tonights chart is of the AUDCHF.

The longer term trend is down but due to the recent consolidation as seen on the daily chart below, the short term trend is undecided. This is why I wanted to take a look at this tonight, so as to show that patience is needed to trade in such scenarios. The squeeze shown is engulfing price action at present but sooner or later there will be a break and I will trade accordingly.

Taking the aggressive stance on this, I will use our ESLT but on a BOB of the latest support inside the squeeze if this happens.

If we now look at the 4 hour timefrane chart below we can see that we are standing at a possible 123 bottom, with several confluences, including shorter term trend up, this is why the 'patience' is needed for confirmation either way. therefore depending on how long or how many pips you look to gain, there are two possible contradicting trading positions here.

Please be aware that high impact news involving this pair is out early hours in the morning.

Ensure you do your own analysis before taking any trades.















Charts courtesy of TradeStation.

Good luck with all your trading.

Clayton Farnworth.