AUDCHF bearish engulfing pattern within a descending channel
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 :)
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