AUDCHF on the 1-hour chart is forming a contracting triangle 🔺, showing consolidation after a downtrend.
From an SMC perspective:
🟩 Demand + OB (Order Block) zone holding strong near 0.51900
🔄 Previous CHoCH shows buyer interest
⏳ Waiting for BoS (Break of Structure) confirmation above the triangle
Plan:
* Breakout Entry: Above 0.52400 after retest 🔓
🎯 First Target: 0.52770 – 0.52800 (≈ 37 pips from breakout)
🛡 Invalidation: Below 0.51900 (demand failure)
Reasoning:
+ Contracting triangles often lead to strong impulsive moves ⚡
+ Buyers are already active at demand 🔥
+ Confirmation of CHoCH + BoS could push price to targets 🚀
// (Not financial advice – personal chart observation)
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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.