Hitting Resistance and Reversing - AUDCHF August 14th 2019
Hello traders,
The AUDCHF has been ranging for several days. Price is contained between the S&R-range 0.65348 and 0.66449.
We see a rejection pattern at the resistance 0.66449 and now we are looking for a short setup on this pair.
Ideally, set the Stop-Loss above the resistance 0.66449 and the Profit Target at 0.65348 as shown in the chart.
Also note, that we have a demand zone in the middle of a range, which is marked green. There, we might see a correction before our trade hits our target.
I wish you all a great trading day!
The AUDCHF has been ranging for several days. Price is contained between the S&R-range 0.65348 and 0.66449.
We see a rejection pattern at the resistance 0.66449 and now we are looking for a short setup on this pair.
Ideally, set the Stop-Loss above the resistance 0.66449 and the Profit Target at 0.65348 as shown in the chart.
Also note, that we have a demand zone in the middle of a range, which is marked green. There, we might see a correction before our trade hits our target.
I wish you all a great trading day!