MEX_Exchange
Short

CADCHF is Approaching Its Resistance, Prepare For A Drop

FX:CADCHF   Canadian Dollar/Swiss Franc
Sell below 0.7652. Stop loss at 0.7685. Take profit at 0.7558.
Reason for the trading strategy (technically):
CADCHF is approaching resistance at 0.7652 (61.8% Fibonacci retracement , horizontal overlap resistance) where we expect to see a reaction, causing price to fall to its support at 0.7558 (61.8% Fibonacci extension , 23.6% Fibonacci retracement ).
Stochastic (89, 5, 3) is also reaching its resistance at 98% where we expect to see a corresponding reaction. A bearish divergence with price has also been identified which contributes to our bearish divergence.
Maybe your stop loss should be the target? You would make more money
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lol
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wrong levels, buy instead
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