CAD/CHF Bearish Reversal Setup in Play

The chart suggests a potential short setup based on the price's reaction to a resistance zone and the presence of a bearish order block. The trade appears to follow a risk-to-reward ratio strategy with a clear stop-loss and multiple take-profit levels defined below the current price.

Key Observations
1. Entry Zone: The short trade is initiated near 0.63230, around a resistance area.
2. Stop-Loss: Positioned at 0.64002, just above the recent highs, to minimize risk.
3. Take-Profit Levels:
First target: 0.62836 (close support).
Second target: 0.62458.
Final target: 0.62080, aligned with a strong demand zone.
4. Order Block: The highlighted zone indicates a bearish order block, signaling a potential reversal from the resistance level.
5. Momentum: The price is consolidating near the resistance, indicating a potential move downward, provided sellers gain control.

Strategic Implications:
Bearish Confirmation: Wait for a decisive bearish candle or rejection pattern before adding positions.
Risk Management: Maintain the stop-loss at 0.64002 to avoid overexposure to risk.
Profit Targets: Use scaling-out strategies at each take-profit level to lock in gains progressively.

This setup appears well-structured, with a high probability of success if the bearish bias plays out. However, traders should remain vigilant of false breakouts or sudden reversals.