Pair: AUD/CHF (Daily)
Long or short: Long
No more to say:
now it’s at 0.938
strong support line at 0.93
so we can choose to enter now or later if it reach 0.93 and stochastic continues to stay in oversold.
This position means a long long period of trading.
Consider that the bank interchange rate is the maximum profittable, so no problem for leave it open:
AUD . 4,25%
CHF . 0.00%
also fibonacci says 0,93 is a good support line, but i didn’t draw for better and clean view.
Another good thins is that the Swiss National Bank decided in semptember to act in order that EUR/CHF stay up of 1.200 rate change.
now EUR/CHF is around 1.2400 so if it go deeper SNB acts to devaluate CHF with impact on all CHF/crosses, like AUD/CHF.
Entry: Now 0,938, if it reachs 0,93 and stochastic oversold buy more.
Stop loss: 0,9240 (lower than previus support line)
Reward-to-risk: 3:1 (variable).
Target: first 0,95, second 0,97 (2 or 3 weeks period)