AUDCHF New Price Action
Previously I had made an analysis of this pair looking for shorts near a three touch structure. However that structure has now been broken and has now made a new reversal ascending channel. It is important to not that when you have a structure where the top and bottom trend-lines are not parallel, if there was to be a break to the upside, based off my own backtesting results, we tend to make the top trend-line parallel to the bottom line. This in fact, has happened in this piece of price action. Here we have a break of a three touch structure however it is important to note that is is how we react to this area of value, and in this scenario we could potentially have a fake breakout, with a continuation flag to the downside. Lastly due to Presidential election News, I suggest protecting as much capital as you can and trade with caution.
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