AUDCHF – SELL STOP – 24th July 2020

AUDCHF – SELL STOP – 24th July 2020 (Closed)

Good afternoon team,

With the US China tensions rising we want to get a position on the AUD. The CHF is also classed as a safe haven currency. This makes a great pairing fundamentally to play into the risk off flows.

AUDCHF 4 Hour Charts

There has been a break of a key trend line. The market is now testing the bottom of a bear flag formation. The last major high was lower then the previous suggesting bearish momentum. We are now waiting for a breakout to the downside of the bear flag.

Trade Setup: SELL STOP – Entry price 0.6520, stop loss 0.6620 and take profit 0.6320.

Stop loss: 100 pips

Take profit 200 pips

If you are able to watch this live wait for the breakout and retest then trade.

Trade Setup


Take Profit

Stop Loss