After the Employment News in the US a pattern emerged on the 3h chart. The NZD/CHF and the AUD/CHF made a brake from the 50sma (blue line) SurpriseBox. This brake formed a bullish engulfing pattern. Target will be recent high about 0.9900 area on the AUD/CHF pair that I just entered a long position. A reasonable stop will be the 0.9650 area. The benefit:risk ratio in this trade is over 50%.
Disclaimer: I trade the patterns depicted either at the entry point stated (e.g. trading channel, breakouts) or afterward. Although my trades are based on technical analysis, trading forex is a risky activity and may produce significant monetary loss. I only make public the trades that I am considering to make, or made and the rational for them. Not intended necessarily as trading recommendations.
