Lets Start looking for double bottoms to see a move back to the upside to complete this bearish shark pattern and thence can look or short positions on the .886 and or1.618. Stay Tuned and you're welcome in advance.
Hidden Bullish Divergence found on the 4HR, another confluence to my already bullish bias
Nice idea on CADCHF and there may be bullish potential as you have identified. I have identified a support level at 0.7627, which coincides with the level that you are expecting a bounce from. It is a horizontal overlap support, with a 61.8% & 100% Fibonacci extension and 23.6% Fibonacci retracement. Stochastic has bounced off its support at 1.6% where a corresponding rise could occur. If a potential rise does happen, we may take a closer look at the 0.7692 resistance level. It is a horizontal overlap resistance with a 76.4% Fibonacci retracement. Looking forward to seeing how things develop.
Please have a look at my idea and we would like to hear from you.