Follow the trend
AUDCHF has been in a downward trend for the last 2 years and i would assume that will continue into the near future. the channel was drawn on the daily chart and trade set on a 4 hour chart. Price has broken through the bottom of a consolidation sitting under our EMA ribbon. It is always possible price will move back into that range but i believe the pressure from a two year trend will win the day for this short. I expect price to fall through the entry price, quickly retest the old support for resistance then continue down staying under the EMA ribbon.
If you have found this useful, please follow and of course comment and share your ideas with me.
Happy trading.
If you have found this useful, please follow and of course comment and share your ideas with me.
Happy trading.
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