CADCHF: Structure Trading With Confirmation
CADCHF is trading on a strong key level.
0.736 - 0.738 is major historical resistance.
The price formed a peculiar dodji candle on that on a daily.
On hourly time frame, we see a local consolidation & indecision within a narrow horizontal trading range.
Our confirmation to short will be its bearish breakout (hourly candle close below its support).
Selling on a retest we can catch a nice pullback trade.
In case of a bullish breakout of the range though, bullish continuation will be expected
and our selling setup will become invalid.