I am shorting AUDCHF as price is rejecting the top of two aligning ascending channels on higher and lower timeframes, creating strong resistance confluence. This structure often signals exhaustion rather than continuation, and with momentum slowing near the upper boundary, I am expecting a breakdown toward mid channel support and potentially the lower channel boundary. Invalidation is a clean breakout and sustained close above the channel highs.
Trade closed manually
Exit this trade at the entry level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.