The Aussie just hit a very strong resistance,
Yes it's been on an uptrend since october, but, in this scenario, this uptrend could have been a retracement part of the massive downtrend that started in 2021,
After the market moves from this week, price have bounced off the 0.70 - 0.71 level and is looking like it's going south, to go hit the 0.675 area first, and the 0.62 - 0.63 are if further continuation
The reasons why it is looking like it's gonna fall :
1) In a downtrend on Weekly
2) bearish engulfing on Weekly
3) Fifth touch of the 0.70 - 0.71 area
4) 3rd touch of Trendline
5) In the 0.50 - 0.61% Fib retracement
Let's see what it does, but, looks bloody!!
I will be looking for short entries on the H8 - H12 - D1 , will keep you posted!
Yes it's been on an uptrend since october, but, in this scenario, this uptrend could have been a retracement part of the massive downtrend that started in 2021,
After the market moves from this week, price have bounced off the 0.70 - 0.71 level and is looking like it's going south, to go hit the 0.675 area first, and the 0.62 - 0.63 are if further continuation
The reasons why it is looking like it's gonna fall :
1) In a downtrend on Weekly
2) bearish engulfing on Weekly
3) Fifth touch of the 0.70 - 0.71 area
4) 3rd touch of Trendline
5) In the 0.50 - 0.61% Fib retracement
Let's see what it does, but, looks bloody!!
I will be looking for short entries on the H8 - H12 - D1 , will keep you posted!
Nota
I forgot :6) It just broke the daily Trendline (red trendline)
Nota
And another one!!!Nota
working on TP2 now
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.