Aud/Chf is currently in a downtrend on the daily timeframe,
Price has rejected the 61.8 Fibonacci level multiple times and now has a very large engulfing bear candle.
Here is the play I will be taking on this pair:
PAIR = AUDCHF - SELL
ORDER TYPE = SELL STOP (PENDING ORDER)
LOT SIZE = Micro lot (0.01) (0.02)
ENTRY PRICE = 0.65143
STOP LOSS = 0.66103 = 96 PIPS $9.60 LOSS
TAKE PROFIT = 0.64041 135 PIPS $13.57 GAIN
Price has rejected the 61.8 Fibonacci level multiple times and now has a very large engulfing bear candle.
Here is the play I will be taking on this pair:
PAIR = AUDCHF - SELL
ORDER TYPE = SELL STOP (PENDING ORDER)
LOT SIZE = Micro lot (0.01) (0.02)
ENTRY PRICE = 0.65143
STOP LOSS = 0.66103 = 96 PIPS $9.60 LOSS
TAKE PROFIT = 0.64041 135 PIPS $13.57 GAIN
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