CADCHF Bearish Opportunity with reasons

Jul 29, 2019

We are going bearish in CADCHF for the following reasonable points.

• [1] The daily Time Frame remained between 0.7393 - 0.7587 area since 10th January 2019. It now passed half year that the price is unable to break and move up/down below this channel.
  

• [2] Previous Week High is another factor where the price formed an inside bar on H4 TF.
  

• [3] A trendy channel on H4 is also a solid point where the price is retracing from up and down.
  

• [3] The Fibonacci Level on Daily TF at the last swing suggest that the price is making an inside bar on H4 time frame at 50% Fibonacci retracement.
  

All the above points confirm each others' which enabled us to go short

SIGNAL
Sell Stop @0.7530
SL 0.7555
TP 0.7480

My each risk is 2% of my account.
My lot size for this trade 0.10
Risking pips 25
Rewarding Pips 50
patience is necessary.

Jul 29, 2019

Trade active

Aug 3, 2019

Trade closed: stop reached

Stop reached... I again took sell position... unfortunately didn't got enough time for analysis....