Will this pair hold the previous resistance or collapse through it?
The supply rejection was strong but we still need to cross back over the EQH's if we have a chance of falling lower.
I have illustrated what I would like to see, I will leave updates below.
Traders, if you have your own opinion about this idea, write in the comments section, I always reply.
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Good idea, lower timeframes showing a clear imbalance with sellers taking control, a good sign for a reversal. Just need a break below your EQH for this to be a high probability idea 👍
AlkalineFX
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@HayeTrading, Thank you for the kind words, I will be there with you on the LTF's waiting for that confirmation!
Syed75
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It will go SHORT due to: 1. Daily directional bias is a Downward Trend. 2. It has Taken the liquidity above EQHs. 3. A nice Rejection Candles at Supply Zone 4. GBP is also Bearish on other Pairs.
AlkalineFX
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@Syed75, lots of good confluences for a sell here BUT don't get caught up on a bias.
UnknownUnicorn31112042
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Good job
AlkalineFX
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@capitalminer, I really appreciate that, thank you.