CADCHF Short Entry at long-term 50% retracement

9 Ara 2016

CADCHF has retraced to a 50% retracement line that has held for almost two years, so there's a good probability that this line will once again provide resistance. If the 50% line fails, next potential short entry for me (on a daily time frame) would be at the red 61.8% retracement line.

The not-very-clear pink arrow over to the left shows when these fibs were first drawn, at the start of 2015. The 0%, 61.8% and 50% lines have provided a few good longer-term entry points since then.

9 Ara 2016

Not

Zoomed in to a 4 hour chart, as of this post CADCHF has made an almost-perfect tag of this long term 50% retracement line.