Hi everyone:
AUDCHF is on my weekly watch list for short, and today we are seeing an opportunity. Price action formed a lower high on the 4 hr chart, and a breakout of a rising wedge to the downside will give us great risk:reward trade.
On the daily time frame we know that price action has retrace to 61.80%, daily lower high which confirms the bearish momentum.
Potential target to the recent lows of 0.7280.
Thank you for your support and feedback.
AUDCHF is on my weekly watch list for short, and today we are seeing an opportunity. Price action formed a lower high on the 4 hr chart, and a breakout of a rising wedge to the downside will give us great risk:reward trade.
On the daily time frame we know that price action has retrace to 61.80%, daily lower high which confirms the bearish momentum.
Potential target to the recent lows of 0.7280.
Thank you for your support and feedback.
Note
Here is the daily chart:
Note
no breakout confirmation, no entry
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Related publications
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.