Another trading opportunity I took, this time on USDCHF H4 chart. The supply zone was creating after breaking a strong resistance at 0.9665 and 0.9570, where it retraced because of the rally-base-rally demand, which I did not took, because I did not like the little pause before demand and the fact, that price established a new downtrend on the H4 timeframe.I placed my sell limit when price started to come back strongly. My target was between the two marked demand zones, expecting a continuation of the downtrend.
Apparently the higher demand zone was too strong for my supply to hold. Or the supply was just to weak. And when now looking at this, I should not take this. It was a bit oversizes for my taste and included too much candles. I will try to avoid these types of setups.