AUDCHF bearish engulfing pattern within a descending channel
Updated
AUDCHF just formed a bearish engulfing pattern, creating an opportunity to enter with a short position in this down-channel.
The price is slightly retracing, this gives us the opportunity to get a very good risk to reward ratio, while still placing a good stop loss, above a mid-range downtrend line, and a good take profit at the bottom of the descending channel.
The price is slightly retracing, this gives us the opportunity to get a very good risk to reward ratio, while still placing a good stop loss, above a mid-range downtrend line, and a good take profit at the bottom of the descending channel.
Trade closed manually
Trade closed manually with only part of the profit. Sorry to update this trade late :)
Find out more at itstradingtime.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.