forexopl
Short

AUDCHF - Price Action Short

FX:AUDCHF   Australian Dollar / Swiss Franc
82 0 4
All,

Similar to the AUD/USD             setup I posted, we have yet another AUD setup. Here is why I am going short:

Entry:
1) Lower highs
2) Break and re-test of uptrend channel (Purple channel)
3) Daily chart Price action candlestick pattern is a hanging man

Exit (blue box), Major Confluences:
1) 1.27 fib extensions within the blue box of different swings
2) 50% fib retracement of Dec 2013 swing low to recent Oct 2014 swing high
3) October low
4) .8200, round number

For the above reasons, I am short AUD/CHF             . Feedback welcomed.
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