AUDCAD HTF Short Reversal !
As shown in the weekly and monthly time frame, price is approaching the resistance line (red) in which it has numerous confluence point as shown in past prices. Bulls momentum are weakening by the signs of shorter green bar in the weekly chart and presence of bearish indicating selling interests in 4 hour time frame which could indicate that a huge reversal may happen.
Entry @ 0.91425
SL @ 0.91797
TP @ 0.90107 (However, will stretch TP if reversal reaction is big with proper follow up.)
However, I will keep a lookout incase it is a break out to go long. :D
Which do you guys think has a higher probability of happening?
Entry @ 0.91425
SL @ 0.91797
TP @ 0.90107 (However, will stretch TP if reversal reaction is big with proper follow up.)
However, I will keep a lookout incase it is a break out to go long. :D
Which do you guys think has a higher probability of happening?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.