The AUD/CHF 15-minute chart reveals a potential pullback within a descending triangle pattern. The price action suggests that after the current pullback, the pair may continue its bearish trend, with the target set at the 0.57100 level.
The descending triangle pattern indicates a consolidation phase, which often precedes a continuation of the prevailing trend. In this case, the bearish momentum is expected to resume, aiming for the identified target. Traders should monitor this pattern closely for any signs of breakout or further downside movement.
Disclaimer: This analysis is provided for educational purposes only and should not be construed as financial advice. Trading involves significant risk, and it's important to conduct your own research before making any trading decisions.
The descending triangle pattern indicates a consolidation phase, which often precedes a continuation of the prevailing trend. In this case, the bearish momentum is expected to resume, aiming for the identified target. Traders should monitor this pattern closely for any signs of breakout or further downside movement.
Disclaimer: This analysis is provided for educational purposes only and should not be construed as financial advice. Trading involves significant risk, and it's important to conduct your own research before making any trading decisions.
Trade closed: target reached
Target reached and closed position
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.