Longing the aussie dollar, price refused to break and hold below support level and has whipped back above. On the lower TF's candlesticks, we see bullish activity being printed on the chart. Set my targets to next res level.
Break of resistance area and retest. Bullish generating momentum in small leg retracement.
CADJPY LONG: Simple Break and Retest of Support. Target set to next major resistance level.
EN has formed a double top on the daily chart at our major resistance area, and is now testing our CTL support. Upon break of this CTL I will be awaiting a retest then look for a sell signal on smaller time frames. As of now bias is short. Will update as price action unfolds.
-Price Action respects trend line nicely. P.A squeezing in between M.A's. -Fib Level 38.2 Respected Nicely -Late entry however intrigued as to how P.A will react from here. -Anticipating a break in the Support level however can go either way. *for learning purposes only, feedback and constructive criticism welcome :)