AUD/CAD
Its been a while since i ve postedbut now i am back with another try.
This time my BB is weekly B is Daily and W is H4 charts.
So here s how i see it
BB there is an up stream coming from deep (red shadow) but last week it seems it has lost its strength.
B Also an uptrend has formed and been established really well for at least 40 days but it seems it cant overcome the resistance level (which is designated from the monthly chart indicating a strong level.
W the candle before the last is a shooting although i would prefer it with a longer wick and not that small tail , the last candle confirms that the resistance has hold and sellers are taking control again fot third time.
i believe going short is decent swing PASR trade with a stop loss at 200 ema at weekly chart and tp at 0.9315
On the other hand looking at the weekly chart another interpretation would be that price is trapped at the WWC wich is the previous week candle. BUT as i stated above i am considering the weekly as BB so the management of my trading will be at H4 chart.
Its been a while since i ve postedbut now i am back with another try.
This time my BB is weekly B is Daily and W is H4 charts.
So here s how i see it
BB there is an up stream coming from deep (red shadow) but last week it seems it has lost its strength.
B Also an uptrend has formed and been established really well for at least 40 days but it seems it cant overcome the resistance level (which is designated from the monthly chart indicating a strong level.
W the candle before the last is a shooting although i would prefer it with a longer wick and not that small tail , the last candle confirms that the resistance has hold and sellers are taking control again fot third time.
i believe going short is decent swing PASR trade with a stop loss at 200 ema at weekly chart and tp at 0.9315
On the other hand looking at the weekly chart another interpretation would be that price is trapped at the WWC wich is the previous week candle. BUT as i stated above i am considering the weekly as BB so the management of my trading will be at H4 chart.