CADCHF: Potential Swing Short
CADCHF is approaching a strong daily resistance cluster.
the price action contracts within the rising wedge pattern signifying the weakening bullish momentum.
taking into consideration that the trend is bearish,
the price will most likely continue its fall soon.
to catch a bearish continuation, wait for a bearish violation of the support of the wedge (daily candle close below).
target levels:
0.6835
0.6780
stop will be above the closest 4H structure resistance.
in case of a bullish violation of the yellow area, setup will be invalid.
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