Multitimeframe analysis on AUDCAD
On the Daily timeframe, if you look carefully the price has reach a key level which has acted as support and resistance overtimes and also there is a supply zone on the left which I marked with arrow and red circle.
On 4H timeframe, we see a huge upward momentum, but reaching the key levels I see a potential reversal key level on the last timeframe 30M
Here on the 30M timeframe we see the price already created lower low breaking the bullish momentum on 30M, and even though the price has bounced back up, I see the Quasimodo / Head and shoulder level as the potential sell zone.
PS: I'm sorry that I unable to post a picture on a higher timeframe due to my reputation
On 4H timeframe, we see a huge upward momentum, but reaching the key levels I see a potential reversal key level on the last timeframe 30M
Here on the 30M timeframe we see the price already created lower low breaking the bullish momentum on 30M, and even though the price has bounced back up, I see the Quasimodo / Head and shoulder level as the potential sell zone.
PS: I'm sorry that I unable to post a picture on a higher timeframe due to my reputation
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