Looking for the continuation of this down trend after a long daily retracement. Hidden bearish divergence on the 1H and 1D charts. Long term sell
Hope you all had an amazing holiday/rest :)
had some time to look at the charts today, strong support and resistance zone coming up looking for some nice reversal candles something that can tell us that a sell off is coming, the analysis i have shown is daily down to 4 hour, overall trend is down so could be a nice break and retest coming here
AudNzd formes an inverted head and shoulders, then rejected the neckline...
Price now appears to have formed a bearish triangle and could possibly break out on the 4h time Frame..
I am considering a short position if price breaks out
I would like to see a small pullback followed by continued rejections before getting involved in a sell position. As you can see, price failed to hold above the daily resistance level and we have now closed below it and have broken the small ascending trendline. This could be signs that price is failing to push higher and that a significant sell-off is...
Price has pulled back significantly into the previous daily resistance zone, It is likely to see rejections from this region, if we don't see any signs of rejection and the price manages to break below the key level marked we can look for potential selling opportunities from the re-test of structure.
According to COT data source - 57% short