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
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.