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MEX_Exchange
Feb 8, 2018 1:40 AM

CADCHF in a strong bearish channel, remain bearish Short

Canadian Dollar/Swiss FrancFXCM

Description

Sell below 0.7543. Stop loss at 0.7612. Take profit at 0.7416.
Reason for the trading strategy (technically):
Price is in a strong bearish channel and we’re expecting more bearish momentum from price. Major resistance remains at 0.7543 (Fibonacci retracement, horizontal overlap resistance, channel resistance) and we expect a drop from here to push price down towards 0.7416 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 96% where a corresponding reaction is expected.
Comments
Flow-Like-Water
Bad ass!
Freaking Perfect!
I am going to follow you closely.
Thank you.
Mike
fx_oanda_trader
Like a boss
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