Here on the of AUD/CHF we have nice setup.
With a D leg completion of the just above historically the lowest price, this should hold and act as a solid reversal zone.
Taking a Fibonacci of the C to D leg gives us a .382 Target 1 at , which is a perfect area to take of half of our position and move stops to break even.
On the 1h / 4h and Daily time frames, we have giving us more confluence to look long.
- Stop Loss below X
- Target 1 at . ( Once Target 1 is achieved, half of position taken and SL moved to break even )
- Target 2 at .