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.
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.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.