AUD/CHF - SHORT OFF DAILY TF DOUBLE-TOP.
MONTHLY/WEEKLY TF IS IN AN "ASCENDING TRIANGLE" PATTERN. PRICE IS REJECTING OFF UPPER RESISTANCE LEVEL, PUTTING IN A DOUBLE-TOP
AS SEEN ON THE DAILY CHART. PRICE IS IN A RETRACEMENT WHICH HAS CREATED A TEMPORARY "RANGE" ON THE 4HR CHART. PRICE JUST BOUNCED
OFF THE 4HR CHART RANGE HIGH, AND IS IN A PULL-BACK. A SHORT ENTRY CAN BE TAKEN NOW WITH STOP LOSS JUST ABOVE THE .7700 HANDEL.
IF TRADE PLAYS OUT, IT WILL BE A GREAT RISK TO REWARD, 7:1 ROUGHLY, TARGET IS THE PIVOT-LOW ZONE. . . . 0.7570 LEVEL.
AS SEEN ON THE DAILY CHART. PRICE IS IN A RETRACEMENT WHICH HAS CREATED A TEMPORARY "RANGE" ON THE 4HR CHART. PRICE JUST BOUNCED
OFF THE 4HR CHART RANGE HIGH, AND IS IN A PULL-BACK. A SHORT ENTRY CAN BE TAKEN NOW WITH STOP LOSS JUST ABOVE THE .7700 HANDEL.
IF TRADE PLAYS OUT, IT WILL BE A GREAT RISK TO REWARD, 7:1 ROUGHLY, TARGET IS THE PIVOT-LOW ZONE. . . . 0.7570 LEVEL.
Commentaire:
CORRECTION, RISK TO REWARD IS 4:1