AUDCHF Weekly Buy - FIB 0.618 Retest, Bullish Reversal Setup

AUDCHF has been in a downtrend for quite some time, but it appears to be nearing exhaustion as it sits at the FIB 0.618 of its historical low. The bearish candles have slowed down and the price is at the edge of the downtrend trendline, which indicates a possible reversal. This presents a great opportunity for a sniper trade, and possibly the best setup this year. With a high reward-to-risk ratio of over 1:10, we can target the price area of 0.660. This bullish reversal setup is worth considering for traders who are looking for a low-risk, high-reward opportunity in the AUDCHF pair.

Trade active:

3rd wave of reversal pattern in 1hr time frame:

Trade closed manually:

I closed with +1%