CAD/CHF continues the downtrend

30 Sep

On CAD/CHF , it's nice to see a strong sell-off from the price of 0.62410 and 0.62600. It's also encouraging to observe a strong volume area where a lot of contracts are accumulated.

I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again.

The downtrend combined with the strong volume area are my main reasons for this short trade.

Happy trading,

Dale