AUDCAD - Watch To Short

AUDCAD Weekly

AUDCAD is approaching a very major level where there is a nice confluence of factors. If this was a H4 and below chart,  I would without a shadow of doubt place a sell limit to short the supply zone. However it is a weekly chart and to do so would incur too wide a stop loss. My plan for now is to wait for price to form new levels of H4 supply within the weekly zone and then short those.

Just thought I would post this because it is such a clear as day level that I believe every trader would be watching it no matter what system he is using.