FX:CADCHF   Canadian Dollar/Swiss Franc
1. RSI bearish exit
2. Price testing channel resistance
3. Major resistance at 0.74660: Fibonacci retracement (50%), horizontal resistance overlap, descending resistance line
4. Stop loss at 0.74856 (61.8% Fibonacci retracement , horizontal resistance overlap), Sell Entry at 0.74638 (50% Fibonacci retracement , horizontal resistance overlap), Take Profit at 0.74207 (61.8% Fibonacci retracement , horizontal support overlap)
Comment: Profit Target reached
Trade closed: target reached: Descending resistance line (channel formation in this case), horizontal resistance overlap, 50% Fibonacci retracement level - these 3 makes it a strong major resistance and hence a good entry for a short position
Comment: 43 pips, 1:2 risk reward ratio
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