Hello Trader I Found this trade setup in 4hrs Time frame which is made Distribution zone and also made buildup which indicate Bearish
Trend in this Currency and please do your own analysis Before taking this Trade. If you find my analysis is helpful for you please follow and give like
This is my bearish trend idea. However wait for a fall back to a key level after trend continue to downtrend momentum, because overall structure breakout and continue to downtrend. You can see it high time frame momentum. Good luck
CADHKD has spent the last month consolidating and has now broken above the 5.74200 range that has been tested as resistance several times. Looking for a pull back into this range and rejection. Short/mid term targets are marked on the chart.
It can go up to chase resistance, and it can spike down then up...or cruise itself down.
Bearish interests, attention for 5, 71537....to what may happen there. And if price reverses to break above the dsl line then the set-up will be invalid.