CADCHF: Sell at resistance

Dec 2, 2021

This pair is showing lower highs and lower lows on 4 hourly chart. On the flip side last daily candle is a Bullish Hammer. My vote goes in favor of Dow Theory. My call is SELL at daily and weekly resistance with a Stop loss placed at last lower low.

Dec 5, 2021

Note

Target achieved.
Plan: A rebound from here is expected due to formation of Bullish on daily chart.
Reentry with a SELL stance is due at weekly resistance 0.71471 and 0.71673 as the bearish trend is intact on both daily and 4 hourly charts.

Dec 5, 2021

Note

Or we can enter with a SELL at 0.5 Fib retracement which is lying between 0.71471 and 0.71673 weekly resistances.