Potential outside week and bullish potential for AUCEntry conditions:
(i) higher share price for ASX:AUC above the level of the potential outside week noted on 28th March (i.e.: above the level of $0.56).
Stop loss for the trade would be:
(i) below the low of the outside week on 26th March (i.e.: below $0.515), should the trade activate.
AUC
AUDCHF is dropping after a 1day MA50 rejection.AUDCHF is on the decline after the price got rejected on the 1day MA50 last week.
The long term Channel Down pattern has considerable downside potential as each Lower Low leg has so far been at least -11%.
Sell on the current price and target 0.55000 (another -11% decline) at the bottom of the Channel Down.
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