forextrader_13

forextrader_13

AU has potential to go to the downside price has failed to break and close above the daily structure zone leaving a long wick to the downside indicating sellers are now in control closing a bearish candle

forextrader_13

Price broke daily resistance structure followed by a retest leaving a wick to the downside.. looking for a bullish opportunity on the H1 for longs

forextrader_13

i believe GU is still in a downtrend we can clearly see price has failed to break and close above the daily resistance structure zone leaving wicks to the upside indicating buyers are slowing down.. I would wait for a break of H4 support with a retest printing a bearish candle or making a double trop on the M15 any confirmation that tells me to sell

forextrader_13

3 confluences for this pair to go bearish.... 1- price is respecting the descending TL 2- price is making lower highs and lower lows currently in its lower high phase 3. price is retesting support structure it broke as resistance

forextrader_13

we have a possible bullish flag pattern in play... we also have price sitting on some H4 structure acting as support as well as daily structure

forextrader_13

keep it simple and clean... price broke the highs shall we see a retest upon structure for a continuation trade as long as price holds that support level

forextrader_13

we have a 5th touch on the ascending TL along with a double bottom that formed on the H4... a break of resistance with a retest would be a possible entry

forextrader_13

Retesting h4 structure as resistance

forextrader_13

ucad broke structure.. came down for a retest retesting structure as support and the descending TL closed bullish on h4 printing a bullish engulfing candle