CADCHF
: Short Analysis (Reason for entry):
- Previous support on the weekly chart just got hit
- 1.618 Fibonacci extension confluence with the previous support area
- Bearish divergence between price action and RSI
- Price broke bellow the EMA (50) (Entry confirmation)
Levels:
Stop Loss: 20 Pips above previous high
Take Profit: You can use a fix take profit or trailing stops (ex. 1R, 2R, 3R)