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Australian Dollar / Swiss Franc
Short

AUDCHF: Structure Based Trading Plan

By VasilyTrader
snapshot

hey guys,

AUDCHF has reached the first strong resistance after a bullish rally from 0.535.

important clues to consider on daily:
overbought rsi
bearish engulfing candle

on 4H the pair is forming a bearish triangle with a sequence of lower highs.
we need 0.607 support to be broken (4H candle close below) to short the pair.

target levels:
0.597
0.585

stop will be placed above the last lower high of the triangle.

if the market violates the triangle to the upside, setup will be invalid.
AUDCHFaustraliandollarChart PatternsCurrenciesForexTechnical IndicatorsmoneyswissfrancTechnical AnalysisTrend Analysis
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