Timonrosso

AUDCHF showing downside after Inv H&S break down

Short
OANDA:AUDCHF   Australian Dollar / Swiss Franc
Inverse Head and Shoulders has formed over the last few weeks.
Already we have had a breakdown below the neckline. This tells us supply and selling is high and mighty.
We can safely put a stop loss above the handle, as if it breaks above it would enter into a new uptrend.
Other indicators confirm downside.
200>21>7
RSI>50 (Lower highs)
Target 1.5535


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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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