CADCHF a A2 Short Trade Setup

Hello Traders,
*The Fundamentals:
- GDP Growth: (CAD: -0.1% / CHF: 0.0%)
- Inflation: (CAD: 5.9% / CHF: 3.4%)
- Unemployment: (CAD: 5.0% / CHF: 2.1%)
- Interest Rates: (CAD: 4.50% / CHF: 1.0%)
The Fundamentals are slightly in the favor the CHF over the CAD with the unemployment and inflation numbers.

*Sentiment:
-COT Report: shows /42.0%%/ of the institutional Future open contracts are long on the CAD, while /40.4%/ are long on the CHF.
- Retail Sentiment: 91% of retail traders are Long.
- Now we see a /Risk Off/ sentiment in the with a market and a flight to safe heaven assets like Gold, JPY, USD and CHF.

Technical:
The Price is in a good and healthy downtrend with lower lows and lower highs, made a retracement to the /0.618/ fib zone which is a resistance level as well. This gives a good risk to reward ratio.


Trade Safe

Comment:

The Price respected the resistance level at the /0.381/ fib and now the trade is in green...

Comment:

I moved the stop loss to the entry level

Comment:

Now the retail sentiment is: 95% Long

Trade closed manually:

I closed the trade at break even.

Comment:

I'm still short bias on CADCHF ...Looking for short entry, most likely when the price reach /0.68050/, I'll short it again

Comment:

I took another short trade: