Description
⋅ Hi everyone:
Here is my view on CADCHF SHORT, Any type of feedback is greatly appreciated it. Thank you
Trade: #6
Date: 12/06/2016
Time: 07:00 GMT
Forex Pair/Commodity: CADCHF
Position: SHORT (SELL)
Reward/Risk: 3:1
Opportunity:
Daily: hit strong horizontal resistance line @ 0.7600. Price could not break above 5 times,
formed bearish engulfing candle
4 Hour: Formed rising wedge, price break down the support trend line,
retested the 20 EMA
1 Hour: Break down the strong support trend line, retest to the 50 EMA, main pivot point,
0.382 fibs retracement
Looking to take this pair to daily support resistance trend line of 0.7520 area, and 20 EMA.
Thank you for your support