Short setup of AUDCHF at 0.6715-0.6750 with high RR ratio

Technical Analysis:
On the Weekly chart, the pair has been sideways for a while, sell at the top would give me a low risk trade with high reward.
entry 0.6715
stop 0.6750,
target 1 is 1.5 of stop loss, target 2 is 0.6450.

In addition, the downtrend line in cyan blue colour would give more odds on my side.

Basically, it’s a nice structure to place this trade. However, if I got stopped out. I will look for long setups for the pullback.

Plan your trade and trade your plan. Before we pull the trigger, we must know the possible scenarios. Don't focus on the money, instead focus on your trading process. The money will come into your pocket.

Giao dịch đang hoạt động:

As planed, the trade is active now.

Bình luận:

after two days, our target 1 got it as planned. As mentioned in my plan, target 1 is 1.5 stop zone which is 52.5 bps. As we took some profit, it would ease our mind.

Bình luận:

Price created a new lower low on the 1H chart. Stick to the original plan
Sorry for not being able to show it on the 60m Chart. I just upgraded my account two days ago.

Bình luận:

Finally, the pair goes as I expected. It's been a while but waiting is worthy. Normally, we have to wait for weekly setups.
What to do next? You may trail your stops to control your risks.