AUDCHF - Quick 120 pips (High probability trade)

FX:AUDCHF   Australian Dollar / Swiss Franc
Multiple confluences:

1hr 50EMA
618 fib retracement


I'm a beginner trader.

Do you think that the resistance it is hitting on the 4 hour chart and having an RSI of 74.9 (overbought) on the 4 hour chart give it a chance to drop at this point instead?
+1 Reply
Wicktator Dsndj18
@Dsndj18, Its all about weighing up your confluences. If you find that you have more things aligning for a long e.g. trendline, structure, fibonacci etc, then I'd happily go for longs rather than one confluence for a short
+1 Reply
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