Audusd think it will target previous high stall there and then come down before going up
This pair trippin y'all, but theres liquidity to the downside
Now I know this is a messy chart but let me explain it. So the market is an algorithm and sometimes has cycles, thats where the vertical lines come in and the one horizontal red line in the image. That red line measures the amount of time it took EU to rally before (from the first vertical line to the second). I placed the red line between the second vertical line...
On a larger Timeframe i see a possible short so this will need some time to play out.
This is a peculiar pair because there is liquidity to the upside, however on the monthly a reversal candle formed meaning a good probability that price will go down especially since price re-entered a range. I think price will go up, i don't see much downside conviction.
there are three plays here, two of them are outlined the third play is that i am completely wrong and CadJpy just wrecks me
I think price will go to the previous high, im not confident that it will go higher but we will see
Price is clearly in a range, im not going to trade within the range, I believe price will just do a break and retest before going down.
I appreciate the likes! However EurUsd is not my strongest pair, a simple break and retest is what i see on the daily but the pair does not move smoothly i mean look at it, it's a mess.
Goes against AudUsd but this is what I see Long Term
Good Morning everyone! I see a simple break and retest with AudUsd ot go long
posting this for the sake of posting something on Monday