short bias
Ever been confused!! haha
This currency pair is showing some potential bullish movements and this is supported by the weekly chart hence the direction might be prominent but in the same light with lower time frames im clearly seeing some short opportunities.
1)The market was trending up "yes" but once it broke above the zone it failed to push price further up. given such conditions i will not look for pull breaks alone but clear continuation patterns and rejections in the zone moreso once this happens the market tends to reach back to the previous support or resistance before it gathers momentum in the same direction it was going before
2) The price returned below the zone and find rejection to push up and this was a clear signal for a potential sell opportunity.
Now to support my idea and view for a sell here are the points
1) market is in the golden zone( 50% and 61.8& retracement)
2) price broke back and trade below the zone and the little push to the upside is one my retest and confirmation
3)multiple rejection as portrayed by candlesticks in the hourly time frame
4) a broken uptrend line showing some loss in momentum and power by the buyers
5) a downtrend holding now for the 3rd time and a clear confirmation
This currency pair is showing some potential bullish movements and this is supported by the weekly chart hence the direction might be prominent but in the same light with lower time frames im clearly seeing some short opportunities.
1)The market was trending up "yes" but once it broke above the zone it failed to push price further up. given such conditions i will not look for pull breaks alone but clear continuation patterns and rejections in the zone moreso once this happens the market tends to reach back to the previous support or resistance before it gathers momentum in the same direction it was going before
2) The price returned below the zone and find rejection to push up and this was a clear signal for a potential sell opportunity.
Now to support my idea and view for a sell here are the points
1) market is in the golden zone( 50% and 61.8& retracement)
2) price broke back and trade below the zone and the little push to the upside is one my retest and confirmation
3)multiple rejection as portrayed by candlesticks in the hourly time frame
4) a broken uptrend line showing some loss in momentum and power by the buyers
5) a downtrend holding now for the 3rd time and a clear confirmation
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