AUDCHF Contracting Triangle – Waiting for Breakout Confirmation

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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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