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.
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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.
Please have a look at my idea and we would like to hear from you.