CADCHF: Top-Down Analysis & Trading Plan For Today

CADCHF is retesting a major rising trend line on a daily t.f.
the price has confirmed the significance of the trend line by the formation of bearish engulfing candle 17th of June.

on 4H the price has successfully formed a head and shoulders formation.
now the pair is stuck on a neckline.

wait for a 4H bearish breakout of the neckline to short the market.
you can sell aggressively or on retest.

safe stop (above the right shoulder) - 0.7027

initial target - 0.6925


if the market closes above head level, setup will be invalid