CADCHF Bearish Rejection at Strong Resistance
This market is holding at the past support become future resistance (0.7805). Looking at lower time frame, the probability is going downside than upside because it has completed its 5 wave up swing. It has also formed its 5 wave down sequence and its holding at the wave 1 low towards downside. I am selling this at market at 0.7795 with the stop above the 3rd impulsive high and target at the 1.270 extension for 1:2 RR.
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.