CADCHF is testing a major weekly structure resistance.
Taking into consideration that the market is quite overbought, chances are high to see a pullback from that.
Your confirmation will be a bearish breakout of a rising parallel channel on 4H.
While the price is within, the market remains sharply bullish.
The breakout will signify a local shift in market sentiment and will push the pair to local structure level.
First goal will be - 0.732
In case of a bullish breakout of the underlined resistance, setup will be invalid.
Note
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❗️YouTube Channel: youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ Get 100% Deposit Bonus: bit.ly/bestforexgoldbroker
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.