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MEX_Exchange

CADCHF forming a major reversal signal, time to sell

Short
Canadian Dollar/Swiss Franc (FX:CADCHF)  
MEX_Exchange  
FX:CADCHF   Canadian Dollar/Swiss Franc
Trend Analysis Harmonic Patterns Chart Patterns cadchfshort cadchflong cadchfidea cadchfsell cadchfforecast CAD chf CADCHF
100
2
trendanalysis harmonicpatterns chartpattern cadchfshort cadchflong cadchfidea cadchfsell cadchfforecast cad chf cadchf

Sell below 0.7879. Stop loss at 0.7965. Take profit at 0.7732.
Reason for the trading strategy (technically):
Price has formed a bearish bat formation and also sees strong resistance at 0.7879 (Fibonacci retracement, horizontal swing high resistance, bearish divergence) and we expect to see a strong reaction off this level to push price down to at least 0.7732 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance at 97% and also bearish divergence vs price signalling that a reversal is impending.
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