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AUDCHF Bullish Shark Pattern and Trade Setup Update: Target Reached

AUDCHF Bullish Shark Pattern and Trade Setup

Description of the pattern: AUDCHD broke the bullish trend line and entering a bearish trend. A bullish Shark pattern would be completed at D. Potential bullish correction opportunity.

Trade: LONG

Time Frame: H4

Trade Period: Intraday / Midterm

Estimated completion time: 2-18 H4 Candlestick

The trend in the Timeframe: Bearish

The trend in the Daily Chart: Neutral

Trade Based On Bullish Shark Pattern

The accuracy of the pattern: 86 %

Recommended Lot Size: 0.05 at 10K

Trade: Long

The Area Of The Entry: 0.70700 – 0.70650

Stop Loss: Below X 0.70400

Target 1: 0.71100 / Reached

Target 2: 0.71400 / Reached

Target 3:

Ultimate Target:

Note: As the nature of the Shark Patterns, if the retracement does not happen at 88.6% Fib, the next retracement level is 1.13 Extension. If the pattern does not work as predicted and stops out, the next long entry level is 0.70200 to recover the loss.

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

AUDCHF: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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