Good morning traders, hope you are all having a fantastic week.
Just a quick update, I have taken NZD/CAD off my watchlist and added this new pair.
Price is continuing its bearish momentum creating lower lows and lower highs and we have just come off the back of a double top. However, I am starting to lean more towards a bullish perspective for multiple reasons.
- Price consolidated heavy and failed to break lower before making this double top.
- Price began to form mini bullish structures (higher highs & higher lows).
- Support is currently holding on a valid retest zone for a potential reversal.
As long as we hold this retest zone I will be looking for buys on the hourly timeframe.
Just a quick update, I have taken NZD/CAD off my watchlist and added this new pair.
Price is continuing its bearish momentum creating lower lows and lower highs and we have just come off the back of a double top. However, I am starting to lean more towards a bullish perspective for multiple reasons.
- Price consolidated heavy and failed to break lower before making this double top.
- Price began to form mini bullish structures (higher highs & higher lows).
- Support is currently holding on a valid retest zone for a potential reversal.
As long as we hold this retest zone I will be looking for buys on the hourly timeframe.