CADCHF forming a major reversal signal, time to sell

8 ม.ค. 2018

Sell below 0.7879. Stop loss at 0.7965. Take profit at 0.7732.
Reason for the trading strategy (technically):
Price has formed a bearish bat formation and also sees strong resistance at 0.7879 (Fibonacci retracement, horizontal swing high resistance, bearish divergence) and we expect to see a strong reaction off this level to push price down to at least 0.7732 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance at 97% and also bearish divergence vs price signalling that a reversal is impending.