CADCHF short
CADCHF short analysis:
On the daily timeframe, we see a bearish run from August 12 that ended with a bullish doji on August 20 and the pair has been correcting since then. On Friday, we saw a bearish hammer close just below 78.6% of the previous bearish move and yesterday's trade confirmed the bearish move with an engulfing candle which closed below 50%. 61.8% was approached and rejected this morning (which gave the entry).
On H4, H1 and M15,the 200/50ema cross has just been retested.
A daily close below 50% should give an entry, sl above 61.8% and take profit at -27.2%.
Good luck
On the daily timeframe, we see a bearish run from August 12 that ended with a bullish doji on August 20 and the pair has been correcting since then. On Friday, we saw a bearish hammer close just below 78.6% of the previous bearish move and yesterday's trade confirmed the bearish move with an engulfing candle which closed below 50%. 61.8% was approached and rejected this morning (which gave the entry).
On H4, H1 and M15,the 200/50ema cross has just been retested.
A daily close below 50% should give an entry, sl above 61.8% and take profit at -27.2%.
Good luck
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