AUDCHF - short trade idea
Updated
AUDCHF
My perspective on AUDCHF
Daily - We see there is a downtrend in place. Price failed to break the swing low and then started pushing higher but couldn't break the swing high, after all started to go down below the 50 EMA which may indicate the further downtrend.
4 hour - Price pulled back to the previous swing low, as well as the 50 EMA, now we have to wait for the candlestick formation to enter the trade.
My perspective on AUDCHF
Daily - We see there is a downtrend in place. Price failed to break the swing low and then started pushing higher but couldn't break the swing high, after all started to go down below the 50 EMA which may indicate the further downtrend.
4 hour - Price pulled back to the previous swing low, as well as the 50 EMA, now we have to wait for the candlestick formation to enter the trade.
Trade active
Engulfing candlestick was a good entry.Trade closed: stop reached
SL: 0.57700ENTRY: 0.57485
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