AUDCHF - Short

The Australian Dollar has been weak of late, and with the current risk off sentiment we are expecting a shift back into the worlds safe haven currencies of JPY and CHF.

Our favoured pair for the coming week is AUDCHF with a beautiful 15m bearish engulfing candle right off of our level of interest at 0.68630.

Initially this trade has been taken as a day-trade however we will look to scale into a larger position and hold for anywhere from a couple of days to a couple of weeks should the initial target at 0.68325 be convincingly broken.

Keep it real.

Cheers, Paul.

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We were stopped out on our small day-trading position overnight and into this morning for -1%, however this has simply given us a better entry into our longer term swing position.

- First target: 0.68200
- Second target: 0.6790

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Correct stop loss now shown on the new position:

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Our AUDCHF trade is now well into profit so we are removing all capital exposure from the table and moving our stop to break even.

A nice risk free trade from here on.

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2nd target hit so we have closed 50% of our position and moved our stop loss further into profit for the second half of the position.

Our extended targets are now down at 0.67900 so either that will be hit or our stop loss will be hit.

Either way this has been a great trade and will more than make up for the small loss on the first entry.