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
wrong levels, buy instead
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