AUDCH is in a long term downtrend and put a serious reversal weekly candle last week when backtesting its broken rising wedge . Such rejection in a downtrend should lead to further downside. Short favoured.
A closer look at the weekly reversal
4H chart: A short at 0.752 would offer a 1 to 2 Risk-Reward to target 0.73 with a stop above previous high.
Đóng lệnh: dừng lỗ:
Stop was hit during the week, Price reentered the rising wedge in a powerful move. Looking to buy the dip now on..