AUDCHF - Short-term trade setup. Possible 1:2 RR ratio.

18 Mei 2020

AUDCHF

Possible Confirmations:
1. Formed a Symmetrical triangle which is a good signal for trend continuation.
2. 50 and 200MA just crossed over

Entry Timing:
1. Wait for breakout at the resistance.
2. Entry should be placed at the lower time frame.
3. Wait patiently for bullish confirmation bias on the lower time frame.
4. A bulling engulfing candle is a good confirmation for trend continuation.

Risk Filters:
1. Never trade when there is an upcoming high impact new release.
2. Risk at least 1% of your capital only.

NOTE:
Much better if you ribbon this pair because this might reverse on the monthly resistance line which will give us another huge profit potential.