CADCHF Is Approaching Resistance, Prepare For A Reversal
Sell below 0.7908. Stop loss 0.7999. Take profit at 0.7715.
Reason for the trading strategy (technically):
CADCHF is approaching resistance at 0.7908 (100% Fibonacci extension, 61.8% Fibonacci extension, horizontal swing high resistance) where we expect to see a reversal, causing price to fall to its support at 0.7715 (23.6% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching resistance at 96% where a corresponding reversal is expected.
Reason for the trading strategy (technically):
CADCHF is approaching resistance at 0.7908 (100% Fibonacci extension, 61.8% Fibonacci extension, horizontal swing high resistance) where we expect to see a reversal, causing price to fall to its support at 0.7715 (23.6% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching resistance at 96% where a corresponding reversal is expected.
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