CADCHF 180422 Short

٢٢ أبريل ٢٠١٨

D1 Several week uptrend, strongly adhering to the trend line and gaining momentum. The H4 trend line has been strongly respected, price has since put in a HH, LH which was then supported by a BEB breaking the trend line and local support and resistance. Entry candle was during US session on a Friday. Will take a retrace entry to the entry candle at 0.7655. Expecting price to reverse during the Asian session and pick up speed once the Euro session kicks in. Targeting a RR of ~8, this is the long term previous resistance area and will likely take profit sooner if price begins to reverse. Concern is that the D1 SR area has many wicks slightly higher and therefore may find bullish support and push higher again before finding seller.