Gooday Traders! From our Aussie dollar chart, price has been in a descending channel from the weekly timeframe and is currently at (almost) our descending channel resistance.
From the daily timeframe, price has formed a symmetrical triangle which breaks either ways. However, since price is at our weekly resistance, my bias is that price might likely break lower, and might reach the 0.6700 level. As of writing H4 seems to be froming a reversal pattern. I'll watching H4 to enter.
Lets see how this plays out though as this is what im seeing.
Remember proper risk management is crucial.
Do well to follow, like and comment.
From the daily timeframe, price has formed a symmetrical triangle which breaks either ways. However, since price is at our weekly resistance, my bias is that price might likely break lower, and might reach the 0.6700 level. As of writing H4 seems to be froming a reversal pattern. I'll watching H4 to enter.
Lets see how this plays out though as this is what im seeing.
Remember proper risk management is crucial.
Do well to follow, like and comment.