CADCHF Reversed Off Resistance, Prepare For Further Drop!
Sell below 0.7625.
Stop loss at 0.7647.
Take profit at 0.7583.
Reason for the trading strategy (technically):
CADCHF reversed off its resistance at 0.7625 (61.8%, 100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to drop further to its support at 0.7583 (61.8% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (55, 5, 3) reversed off its resistance at 95% where a corresponding drop is expected.
Stop loss at 0.7647.
Take profit at 0.7583.
Reason for the trading strategy (technically):
CADCHF reversed off its resistance at 0.7625 (61.8%, 100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to drop further to its support at 0.7583 (61.8% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (55, 5, 3) reversed off its resistance at 95% where a corresponding drop is expected.