1HR CADJPY
1HR
CADJPY
Current bias is bullish
Price is currently creating new HLs in a higher right leg of a DB breaking the 4 HR resistance zone.
Both moving averages show price are still bullish with recent bullish Order Blocks since Aug 18th.
Price may continue to create another bullish candle before returning inside the zones for retest
I drew a circle for the fib levels which happens to be in the area between 1 hr resistance and 4 hr support.
The 1 hr support zone was retested last week but not as heavily as the zones prior.
Price may drop at 1 HR resistance zones before returning bullish. But I’d like to see if price will drop to the fib level in between the 2 important zones before returning bullish to break the 4 hr resistance.
CADJPY
Current bias is bullish
Price is currently creating new HLs in a higher right leg of a DB breaking the 4 HR resistance zone.
Both moving averages show price are still bullish with recent bullish Order Blocks since Aug 18th.
Price may continue to create another bullish candle before returning inside the zones for retest
I drew a circle for the fib levels which happens to be in the area between 1 hr resistance and 4 hr support.
The 1 hr support zone was retested last week but not as heavily as the zones prior.
Price may drop at 1 HR resistance zones before returning bullish. But I’d like to see if price will drop to the fib level in between the 2 important zones before returning bullish to break the 4 hr resistance.
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