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Is the AUDCHF correction over?

So Strobot took an AUDCHF short about 10 minutes ago.

Let’s look at his chart.

So we are firmly at the top and broken back into the SELL zone, the AUDCHF pair is coming back from being overbought so this looks like a big square up of the downward move. If this correction is over we will at least get 0.81785 for a target or maybe lower judging by the previous move. Our Heiken Ashi Sell signal appeared just at the right place.

So the yellow line is basically our signal line, the upper area above it is the sell zone, the lower is the buy zone, we don’t take trades outside that area. The Gold line is a daily MA that allows us to trade with the overall trend plus we are using RSI and currency strength (not shown on the chart).

Time will tell! But one thing I do know is it will be VERY VERY slow as the USA is having a lovely turkey thanksgiving dinner.

Here is the daily chart with the currency strength.

 

http://www.strobot.co.uk

 

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