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mrshed

AUDCHF Short H4 Timeframe

Short
Australian Dollar / Swiss Franc (FX_IDC:AUDCHF)  
mrshed Updated   
FX_IDC:AUDCHF   Australian Dollar / Swiss Franc
Trend Analysis Chart Patterns
1
0
trendanalysis chartpattern
AUDCHF is hitting multiple resistance levels on H1 and M30 timeframes, all hitting 50EMA and 500 fib.

I anticipate a pullback towards the 50EMA on H4 and the Pivot.

Looking for a simple 1:1 RR, but low exposure as its not certain to reverse. Deceleration at lower timescales implies a reversal.
Comment:
Some reversal but not as strong as I would like. Monitoring manually and brought the SL in slightly to minimise exposure. Still anticipating further downward pressure but maybe not a lot. May be supported by 500 fib.
Comment:
Reversal is still current just taking a little longer than forecast. Comfortably profitable but watching for any possible rebound off the 236.
Trade closed: target reached:
Profit taken :)
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