I'm looking at a potential short opportunity on CAD/CHF as price approaches a key daily supply zone, which was previously a demand zone. The pair has been in a broader downtrend followed by a consolidation that went of for weeks, and with the recent break of structure, I anticipate a rejection from this area. My alert is set for when price reaches the supply zone at 0.61954, where I will be looking for confirmation to enter short positions.
Key levels to watch:
Daily Supply Zone: (0.61954)
Target Levels: (0.60550)
Invalidation: If price breaks and holds above the zone
I'll be monitoring price action closely for signs of weakness before executing the trade. Let me know your thoughts!
Key levels to watch:
Daily Supply Zone: (0.61954)
Target Levels: (0.60550)
Invalidation: If price breaks and holds above the zone
I'll be monitoring price action closely for signs of weakness before executing the trade. Let me know your thoughts!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.