On the monthly we can see that price has finally broken below 182.256. On the weekly we can see that price wicked up 183.500 and rejected the level and previous lower highs. On the daily we see that price came to a strong area of support at 181.500 but price maintains bearish character creating new lower lows with price remaining below the 50 ema. 4hr we can also...
Price is showing a broken upward channel broken, Price has also came to a strong area of resistance under 90.000, we can also see divergence in price with RVOL and CVD, price is also now making lower highs, if price can break below 89.500 there is a probability that it can possibly push lower to 89.000
overall directional bias is bearish from a weekly stand point, price has broken structure and retested an area with a high volume profile, high volume extension to the downside, price has also broken below VWAP
On the chart on the right we can see that the 4hr open is bullish with price holding above around 1.0700, on the left we can see on the 1hr the cross of the 9 and 21 EMA with the RSI crossing above the 50 level with buyer volume to indicate the bias.
price below 50 and 200 ema + Rsi is below the 50 line, price is showing seller volume coming in as well and price has rejected the level for the second time
Audcad has come to a strong area of resistance around the psychological level 0.87000, price is below the 50 & 200 EMA wide apart, RSI starting to shift below the 50 level, volume is indicating buyers exiting long positions.
50 ema 200 ema cross Rsi above the 50 buyer volume, price is making new higher lows and holding support levels, 127.500 is the AOI im looking at if price can break above its possible we might see a change of character and see another higher low form
Price has finally completed its complex pullback and has come to a strong area of daily support in a strong bullish market in the higher time frames. I will be waiting for bullish engulfing on the higher time frames and an entry on the 30min when price crosses 149.500 or 149.00
