There has been a range within this pair over the past couple of weeks that seemed pretty obvious to ride, price action has been strong for longs at support and shorts at resistance (Big big rejections..)
We can also see this pair has been forming a wedge within this range. I am looking at these levels however I am still unsure on my overall bias.
Pros for shorts - Approaching the daily range supply and demand resistance/wedge resistance that has been forming over the past couple of days
Pros for shorts - If this wedge is broken and a firm retest, there has been a double bottom recently, I am a bit hesitant of scenario 2 and so I will be adding a small position, if the S&D resistance is broken over the next week or so I will be adding to these longs for sure.
We can also see this pair has been forming a wedge within this range. I am looking at these levels however I am still unsure on my overall bias.
Pros for shorts - Approaching the daily range supply and demand resistance/wedge resistance that has been forming over the past couple of days
Pros for shorts - If this wedge is broken and a firm retest, there has been a double bottom recently, I am a bit hesitant of scenario 2 and so I will be adding a small position, if the S&D resistance is broken over the next week or so I will be adding to these longs for sure.