AUDCHF Projection – SHORT (9/7/2021)

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We will be entering this trade, only if we see a nice, clean streak of green candles, going all the way back to the Entry Point.

💱 SELL LIMIT (Medium Risk):
– Stop Loss (SL) = ~0.67993
– Entry Point (EP) = ~0.67828
– Take Profit (TP) = ~0.67600

Positive evidence:
✔️ Breakout @ ~0.67828
✔️ Retracement @ ~0.67583
✔️ EMA (50) @ above candlesticks, and between EP & SL.
✔️ Clean streak of red candles, going all the way down to the point of retracement.

Negatives:
❌ EMA (200) below candlesticks.
❌ Overall uptrend for the past few weeks.

In our opinion, the positives are greater than the negatives. Remember: if, at any point before price hits the EP (1H timeframe), we see a decent-sized red candle form, this projection is no longer valid.

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— Nio Pomilia, Forex Free Press

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