Analysis: Long Trade | AUD\CHF

The Asymmetric Triangle we posted broke up its Resistance trendline and pulled back - signaling a long trade. Trade was also confirmed with Japanese Candlesticks. Pullback was a very precise one, confirmed with a particularly strong Candlestick Formation. Note the rounded movement on price, creating a Doji on the Resistance level and continuing up.

This Candlestick Formation is called the Tower and it is especially strong, because of the rounded movement. Rounded movement indicates that sellers are weakening, as they could stop Buyers very slowly and not in a strong, V-shaped bottom. This allows buyers to regain forces and to gain strength, eventually reversing the market.

Entry was made at 0.8669, stop loss is at 0.8653 (below the Doji) and Target is 0.8720 as posted.