AUDCAD in resistance zone, failed break out?

2020년 4월 17일

On the right we can see what looks like a failed breakout, that triangle where it broke up from, retested, made a new high but got rejected again. So good chance it was a small bull trap move. On the left we can also see that the daily candle is starting to become a sell signal. If it would drop some more today, and make a red body, it would be a nice sell signal. If it would close below/in the green on the left, that it would be a big sell sign. So at the moment, it could still move up a bit, but it gives great potential at the moment. So i am starting with a small size now and when i see the daily candle get more bearish, i might increase. But, weekend is coming, so it's risky to go overnight with everything that is going on the world.


Don't forget to like if you appreciate this :)


Previous analysis: