there is a big trendline which can clearly see in weekly tf and indicates that downtrend still be a ruler. as you can see, the price dropped down and went back to test this key resistance and got rejected beautifully,for this reason it has high probability that the price is going to drop to next level very soon. also this trade has good reward/risk, its worth...
AUD/CHF has formed nice 2nd 123 setup on strong structure! Reasons for short are on chart, While writing this idea price already droped quiet a while...So you might have late entry... For engulfing pinbar you should check it by yourself because on this idea chart is not visible so much! Stop loss is set to 1.5 ATR. 1st take profit is set to retest 2nd one to FE...
FX:AUDCHF Eventual Bearish Bat Pattern: Short @D Point B: 38.2% to 50% XA Point C: 38.2% to 88.6% AB Point D: 88.6% XA Targets: TP1 38.2% AD TP2 61.8% AD Ratios: Safe Trades;
Bearish Butterfly Pattern & Supply Zone
The pair has broken out its range + channel. Confluences: 1/ Downtrend 2/ Retest of 0.71 ( support turned into resistance ) 3/ Retest of the broken channel 4/ Long legged doji, can also be looked at as a high test