AUDCHF update short position is still valid
Let me explain first what I draw on the chart:
bold green line represents 50% of the very long bearish candle and it is always treated ans the strong support/resistance
arrows pointing down are showing double top
200EMA bold black line is guarding value appreciation very well and it created very strong resistance level which may in near future set pair in bearish trend. This type of price action is rare on weekly chart. I marked TP area and SL which should be set above double top.
bold green line represents 50% of the very long bearish candle and it is always treated ans the strong support/resistance
arrows pointing down are showing double top
200EMA bold black line is guarding value appreciation very well and it created very strong resistance level which may in near future set pair in bearish trend. This type of price action is rare on weekly chart. I marked TP area and SL which should be set above double top.
