AUDCHF Long

Today was a day where the AUD took a beating, until it reached the support of 0.6420 and stopped falling. We may have a chance to see some bulls here.

Trade with a risk/reward of 1/3 in TP1 (0.6455), 1/7 in TP2 (0.6500) or 1/8.30 in TP3 (0.6520).

Entry: 0.64224
SL: 0.64065

Comment:

On the 15 minute chart, the pair is forming HH and HL. It now touch the 50% Fib level and it showed some bull strengh.
Move SL under the HL - 0.64200 (now the SL is only 1/5 of what we marked earlier)

Trade closed: stop reached:

0.2% loss. Not bad. Always be aware with the market structure to reduce losses.