I predict that EURCAD will go short as soon at it touches both the trend line and horizontal zone, here are my reasons...
1. A wave of sellers have proven to enter the market on the horizontal zone, thus pushing the market down.
2. Price has intersected the previous HL, creating a new LL.
3. Price seems to be heading up to create an new LH with alignment to the previous LH.
4. Price has a double top, this signals us that the buyers are losing steam.
So i'll be waiting for confirmation to go short as soon as price touches the trend line and horizontal zone, WHAT ARE YOUR THOUGHTS?
1. A wave of sellers have proven to enter the market on the horizontal zone, thus pushing the market down.
2. Price has intersected the previous HL, creating a new LL.
3. Price seems to be heading up to create an new LH with alignment to the previous LH.
4. Price has a double top, this signals us that the buyers are losing steam.
So i'll be waiting for confirmation to go short as soon as price touches the trend line and horizontal zone, WHAT ARE YOUR THOUGHTS?