Short Opportunity Upon Retracement
Since early of this year, CAD has been depreciated quite rapidly against CHF. This can be seen by the fact that 3 hude red candles for the past 3 days and it has broken down EMA(200) recently. Although it is now heading to demand zone ~0.755, I'm not interested to go long, because the bearish momentum is quite strong. Instead, I'm planning to wait for this pair to retrace until ~0.7618 which apparently a supply zone and enter short trade from there.
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Disclaimer
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.