very simple trading opportunity on euro dollar this morning.
we have an expanding wedge pattern, and the market has just reached its resistance line.
also, analyzing candlesticks we see a formation of dodji.
+ take into account that market is approaching a resistance line of a major...
on euro cad the market is approaching a significant resistance level.
we see a very nice rejection candle, indicating a strong bearish pressure around this zone.
you plan for euro cad is to wait and sell bearish breakout of a bearish flag pattern.
"Who is in control of price?"
i will ask myself this question to make sure i take the correct trades and think about the trade in more details...
what i see here according to price action its a nice bullish preceding trend that gets stuck on an area of resistance (which is full of sellers) and shows me this beautiful indecision candle or almost-dodji candlestick...