dipdizzywizzle
Short

AUDCHF Potential Trading Opportunity!

FOREXCOM:AUDCHF   Australian Dollar / Swiss Franc
AUDCHF Potential Trading Opportunity!

I will be looking to short AUDCHF because of the underlying fundamentals between the two countries have been pushing prices lower over the past year. We are approaching a strong zone of resistance and AUDCHF has been trending downward in a nice channel. When price gets into the zone it will provide a good opportunity to make a 3x return vs the risk. AUDCHF has broken its short term up trend line and is setup up for a nice break-check-go. In the short term I will be sitting on my hands and waiting for this setup to qualify for a trade.

In Forex trading as with any other type of investing and or trading we should always be looking for a reason to take a trade and not just placing trades all willnilly like! Trading for no good reason is a sure fire way to blow out your account. With that being said I am providing my view point and analysis of certain Forex pairs and where I believe potential trading opportunities exist. Nothing in the Forex market is 100% so you should always look for a valid reason to trade and then weigh the potential risk vs the reward. Below I have outlined my process for taking a trade and what qualifies as an acceptable risk vs reward setup for me personally.

1. A underlying Fundamental Reason to trade one direction or the other.
2. Technical support on your chart and time frame to support your overall fundamental reason for trading.
3. A 3 to 1 reward to risk ratio. Does the setup provide and have room to give you a 3x reward to 1x risk.

If I can answer yes to all three questions above then I will take a trade it’s as simple as that. I hope this helps. Remember!!! Plan your trade and trade your plan.
Trade closed: target reached: 300+ Pip Trade. Time to evaluate for a long trade.
nice chart...i'm looking for that short term buy which ends in your closing zone
+1 Reply
I agree if I were trading on your timeframe then I would look for the same trade...good luck with it hope it works out for you. @Aqua_Trader,
+1 Reply
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