CAD/CHF: short position; new update

For what I analyzing in H1 timeframe, the price action only trying to break-out at favor by bulls. But we're in the point that we would need to short in H1 timeframe and keep away the H4 becuase the bullish perspective could be cancelled now, but taking in note that we're in the bull trend.

I will put a sell order limit to $0.7727 CHF and target to $0.7660 CHF (68 pips) and Stop Loss to $0.7752 CHF (24 pips)

Also to take confluence, the Oil it's drop and this it's a good alarm that Canadian Dollar will slip down.

This it's the panoramic in H4, we're still in this bullish channel perspective, but the price action take momentum of bears in H1. So, in this timeframe I see a 2 bearish candlestick with rejection and signal. I see a bearish pressure in the first candlestick and more later we see a beamish hanging man indicating sell in 2 confirmation more. That it's a bearish signal that CAD/CHF will down at least maybe 60 pips.

Also, I draw this level support to watch very good.

I hope that this idea support you.

Remember, the trend still bullish, but CAD/CHF it's into this bullish channel in formation and we're still in the phase #4 of Elliot Wave Cycle

Good luck in this short position

Trade closed manually

Comment:

This analysis was update in my long position to watching and follow the update of SHOULDER HEAD SHOULDER INVERTED