Nice idea on CADCHF and there may be bearish potential as you have identified. I have identified a resistance level at 0.77084, which is above your supply zone. It is a horizontal overlap resistance with 61.8% Fibonacci extension and 61.8% Fibonacci retracement. Stochastic is approaching its resistance at 99%, where a corresponding reversal could occur. If a reversal does occur, we may take a closer look at 0.75244. It is a horizontal overlap support with a 50% Fibonacci retracement. Looking forward to seeing how things develop.
Please have a look at my idea and share with me what you think.
MajidGharaiy
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@ICmarkets,
hi my friend
your chart is H4 and my time frame is daily.
so, it may be different in the values and importance of the lines.
anyway now my idea is this one.
Please have a look at my idea and share with me what you think.