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CADCHF: Sell short trade

Hello to all traders and investors. Today I want to share with you this trade I'm making on the CADCHF cross.

For those who follow me, you will know by now that I use personal indicators that show input signals and triggers based on my needs, and once they appear I receive the notification in real time.
In this case the trigger is that of today's candle or an S.Short on the LuBot indicator.

This is a price action trigger that can appear in various cases but must be contextualized to the market phase, which is why the discretionary part still remains a fundamental part of my indicators.

Starting from the analysis of the broader timeframe i.e. the weekly, we see the clear bearish trend with a bearish structure which, after a period of retracement, goes back down making 3 negative swings. We are currently on the wave of the third swing.

Returning to the daily chart, we therefore look for triggers that favor the weekly structure and today's one seems quite good.
After the strong movement of the second weekly swing, the price began a lateralization phase, leaning on the trendCloud which acted as resistance.

To integrate the bearish directionality we have the Predictum indicator which has changed its trend to negative since the beginning of September and the LuTrender indicator which confirms the bearish trend on both the daily and weekly markets.
Finally the EVE indicator, which indicates when the price is in a state of excess, shows regularity so the price is free to take another sprint.

In the event that the price decides to follow the short direction, I set a take profit at 0.6080 and a stop loss above the highs at 0.6380, thus having a trade with an R:R of approximately 1:1.5

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