Brief overview: Looking at the CADCHF over multiple timeframes, I believe there is an opportunity to short this pair. After the recent rally on the 4H chart, we can see price was met with a strong resistance and dropped back down to a recent support level. We have downward momentum on multiple timeframes and I'm waiting for confirmation before activating this trade.
Note: I have decided from here on, not to disclose my detailed analysis, entry/exits or stops publicly. Therefore, any upcoming trade ideas will include only a brief overview as above.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
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It's not looking good. I was expecting a much bigger drop but it only go to 0.726x before turning around. A close above 0.73995 on the daily candle will invalidate this setup.
Order cancelled
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As above, a close above 0.73995 on daily candle invalidated this setup.