CADCHF 07/04/2020 (BULLISH)
MAIN FIBO STRUCTURE (RIGHT) HAS REACHED LEVEL -27%, AFTER BREAKING OUR DAILY ZONE.
WE ARE WAITING FOR THE PULLBACK ZONE WHICH IS LOCATED A 0% OF THIS MAIN STRUCTURE, FOR AN ENTRY UNTIL -61%.
FOR THIS WE HAVE DRAWN SECONDARY FIBO STRUCTURE (LEFT) IN ORDER TO MAXIMIZE ENTRY ACCURACY.
OUR ENTRY HAS BEEN LOCATED AT 50% FIBO BECAUSE IT COINCIDES WITH 0% OF MAIN FIBO STRUCTURE, AND AT THE SAME TIME, WITH MY WEEKLY KEY LEVEL (HORIZONTAL LINE) PRICE 0.6900 (ROUND PRICE). I DONT USUALLY MAKE ENTRANCES AT 50% FIBO LEVELL BUT IM EXPECTING ENTRY POINT TO DEVELOP ON 38% OR 61% LEVELS, SO I DECIDED TO TRUST MY WEEKLY KEY LEVEL. IF ENTRANCE HAPPENS AT 38%, I WOULD EXPECT A WICK TO REACH MY ENTRY POINT BEFORE CLOSURE OF THE CANDLE.
WE CAN EXPECT INSTITUTIONS IN THIS AREA, AS THIS IS A DEMAND ZONE.
WE ARE WAITING FOR THE PULLBACK ZONE WHICH IS LOCATED A 0% OF THIS MAIN STRUCTURE, FOR AN ENTRY UNTIL -61%.
FOR THIS WE HAVE DRAWN SECONDARY FIBO STRUCTURE (LEFT) IN ORDER TO MAXIMIZE ENTRY ACCURACY.
OUR ENTRY HAS BEEN LOCATED AT 50% FIBO BECAUSE IT COINCIDES WITH 0% OF MAIN FIBO STRUCTURE, AND AT THE SAME TIME, WITH MY WEEKLY KEY LEVEL (HORIZONTAL LINE) PRICE 0.6900 (ROUND PRICE). I DONT USUALLY MAKE ENTRANCES AT 50% FIBO LEVELL BUT IM EXPECTING ENTRY POINT TO DEVELOP ON 38% OR 61% LEVELS, SO I DECIDED TO TRUST MY WEEKLY KEY LEVEL. IF ENTRANCE HAPPENS AT 38%, I WOULD EXPECT A WICK TO REACH MY ENTRY POINT BEFORE CLOSURE OF THE CANDLE.
WE CAN EXPECT INSTITUTIONS IN THIS AREA, AS THIS IS A DEMAND ZONE.
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