• Vasily Trader

CADCHF: Structure Trading With Confirmation

Hey traders,

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.

Goals: 0.7335/0.7305

In case of a bullish breakout of the range though, bullish continuation will be expected

and our selling setup will become invalid.

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