PhantomXVI

Trading The Retest.

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FX:AUDCHF   澳元/瑞士法郎
The chart recently broke out of the Triangle pattern and began its descent to creating more lows. Even though there is a lot of indications of its continuation, a retest of the 0.70348 and 0.70043 zone is expected. With enough confluence, a trade can be taken short. Personally, my projected entry is at the 0.70186 price level with a 30 pip stop-loss of 0.70492 and take profit set at 0.69084 which is the closest region of support. From now, it is patience to wait for the right signals and entering the trade.
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