It seems like AUDCHF has found its bottom at the psychological level of $1.6500 when buyers came in at this level and pushed price up to $1.6800. It seems like this pair loves its 00 as price is now dancing around 1.6700. Even though the trend on the long term TFs are down, I have already started to see a slight shift in trend on the H1 and H4 to the upside. Based on this reasoning, I've decided to take a counter trend approach. Here's what I'm going to do:
Long AUDCHF at the market: $1.6705
SL: Based on RR Ration
TP: Long Term TP at $1.73050
Long AUDCHF at the market: $1.6705
SL: Based on RR Ration
TP: Long Term TP at $1.73050
Trade active:
I entered at the market.
Comment:
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Comment:
Adjusted SL to $0.6745 just in case the tide turns to lock in profits. Risk free trade. I’ll continue to monitor the fundamentals.
Trade closed: stop reached:
My adjusted SL got hit after disappointing employment data out of Australia.