Sell Limit Setup on Key Psych Level

Not even going to lie, definitely tried chasing this setup for a little bit now. previously was expecting CADCHF to just weaken but now i see that it will more than liukely pull back up to around 7.6... historically this level has been heavily respected so i am entering a sell limit order with a stop loss above 1.618 fib retracement based off the most recent wave. this should give the market enough room to breathe and be comfortable with drawdown.

Also if you go onto the 4 hour chart there is some pretty clean divergence on the most recent and relevant chart pattern which i really like to see as price get closer to a highly probable reversal area.