AUDNZD UPDATE: finally after taking a losing trade last week i give this pair a second chance we now see on the weekly chart that a big bearish candle breaks the bullish trendline however it is now moving back up to retest the 1.08344 resistance area TYPICALLY I'd wait until it hits the 61.8 retracement to enter but looking on 4h i can see big rejections but that doesnt mean anything until i see a momentum candle etc from the 4h
going back to the DAILY : what do we see? a rejection of that resistance zone and trendline plus a retest of the broken bullish trendline
on daily we see rejections/bullish exhaustion which means its a very great sign for people who are going bearish on this pair this week
1hr: on one hour i can see a big bearish candle has form but why haven't i entered the trade and to be honest with a big bear like that engulfing but with some what of a rejection shows me that bulls are still in the market so ill stay away from making the same mistake as last week and wait until it hits those key levels and enter if i miss the trade opportunity i rather be safe than sorry
Conclusion: still waiting for price to reach key levels
btw how do you guys like the new theme? lol too blue?
going back to the DAILY : what do we see? a rejection of that resistance zone and trendline plus a retest of the broken bullish trendline
on daily we see rejections/bullish exhaustion which means its a very great sign for people who are going bearish on this pair this week
1hr: on one hour i can see a big bearish candle has form but why haven't i entered the trade and to be honest with a big bear like that engulfing but with some what of a rejection shows me that bulls are still in the market so ill stay away from making the same mistake as last week and wait until it hits those key levels and enter if i miss the trade opportunity i rather be safe than sorry
Conclusion: still waiting for price to reach key levels
btw how do you guys like the new theme? lol too blue?