CADCHF - Buy limitCAD/CHFOANDA:CADCHFAffan8107A bullish divergence developed on the 4H timeframe between 4 November and 10 November, indicating weakening bearish momentum. This divergence appears to have played out, as price subsequently broke above the previous Lower High (LH) at 0.58654, suggesting a potential shift in market structure from bearish to bullish. Following this breakout, CADCHF started showing bullish price action. However, I am anticipating a possible retracement before considering a buying opportunity. Option 1 – Buy on Fibonacci Retracement My preferred approach is to wait for price to retrace towards the 0.318 Fibonacci level at 0.58517, which could act as a potential buying zone. Entry confirmation: Wait for price to reach the 0.58517 Fibonacci level. Switch to the 1H timeframe. Monitor the Alligator indicator for bullish momentum and a potential continuation signal. Use Heiken Ashi candles to assess the price direction and confirmation. Consider entering a buy position once bullish confirmation develops. Stop-Loss Management: Place the SL below the relevant 1H Alligator Jaw and recent swing-low structure. Allow sufficient room for normal market fluctuations. Calculate the take-profit based on the actual stop-loss distance, targeting 1:1 RR.