Critical position on AUDCAD. the trend is actually bullish but instead we shorted. why?
because, mitigation on the recent supply zone is stronger compared to the buyer side. alternatively, the formation is also divergent by RSI as well as AO.
most of the time, you will see when a higher high is form there is a new trend to the upside but at some conjunction where this phrase is invalid, is where this kind of setup is brought up.
However, we cannot solely depend on one perspective and for a better risk management i would like for it to drop and make a potential retest to the current price level.
thanks.
because, mitigation on the recent supply zone is stronger compared to the buyer side. alternatively, the formation is also divergent by RSI as well as AO.
most of the time, you will see when a higher high is form there is a new trend to the upside but at some conjunction where this phrase is invalid, is where this kind of setup is brought up.
However, we cannot solely depend on one perspective and for a better risk management i would like for it to drop and make a potential retest to the current price level.
thanks.