Similar to AUD/CAD, AUD/CHF is setting up for a short opportunity with the following in view:
- inside bar following high test bar in pull back to 50ema
- price rejection at resistance at ~0.8210
- price retraced to 0.618 Fibonacci level which coordinates well within proximity of resistance at ~0.8210
- Stochastic and RSI in overbought territory
- Stochastic and RSI hidden divergence (bearish trend continuation)
entry - below inside bar
stop loss - above mother bar (above previous high test bar)
target - previous swing low at ~0.7830, or lower
- inside bar following high test bar in pull back to 50ema
- price rejection at resistance at ~0.8210
- price retraced to 0.618 Fibonacci level which coordinates well within proximity of resistance at ~0.8210
- Stochastic and RSI in overbought territory
- Stochastic and RSI hidden divergence (bearish trend continuation)
entry - below inside bar
stop loss - above mother bar (above previous high test bar)
target - previous swing low at ~0.7830, or lower
