H4 - Bearish trend pattern.
Currently it looks like a pullback is happening.
Until the strong resistance zone holds I expect the price to move lower further after pullbacks.
AUDNZD instrument shows bullish divergence, however, the trend shows strong bearish at 1H TF. TP1 is valid profit zone right above support. TP2 is not strong profit entry due to multiple support levels.
Hi,
Price is currently at a daily resistance, on the 1HR it has formed a double top and broken the neckline. I will wait for a retrace to the top of the broken neckline to sell.
Thanks
Few things going on here:
1. Price reached the highs of 1.078 and then it found weakness. You can tell by the fact that price ranged, but consistently failed to break above the 1.078 level. At the same time, price has been holding supported at the 1.75 level.
2. What I'm currently seeing is that price is breaking below the 1.75 level and slightly retracing. This...
This is currently a very preliminary trade idea based off of the current momentum on this pair. I outlined this trade idea in three major points.
1. The run-up from March 19th ceased at the 1.0613 level. Price proceeded to pull back to my #2 label at 1.0477 level.
2. Nothing out of the ordinary so far as price would retrace after such a rally. What's...
