EURCAD have been on the rise since August 2022, and now approaching the highs of 2022, what are my expectations?
We can see that above the 2022 highs, there is a weekly imbalance I labelled, so price might get to that highs before going bearish, remember that the first leg of the M formation, formed on December, so this will be our second leg. So we expect this move to flow to 1.38000
Why shorting?
There on the monthly timeframe, there is a high resistance zone we are currently on and we expect continuation of trend to the downside.
Please do share, and give a follow to support.
We can see that above the 2022 highs, there is a weekly imbalance I labelled, so price might get to that highs before going bearish, remember that the first leg of the M formation, formed on December, so this will be our second leg. So we expect this move to flow to 1.38000
Why shorting?
There on the monthly timeframe, there is a high resistance zone we are currently on and we expect continuation of trend to the downside.
Please do share, and give a follow to support.
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Price just took out 2022 highs, now just the weekly imbalance to be filled then we sell today or tomorrow probably
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Expecting some bullish move at current price H4, so it goes bullish to clear the weekly imbalance before it falls.
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Price is creating a rising wedge on the fours timeframe, and I assume we all know the wedge as a continuation pattern, so this might just go on to fill the weekly imbalance, which is the black line.
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We still expect the weekly imbalance to get filled, let's look at the H4 timeframe and we can see that price just broke a resistance zone which price will use as a support zone for a bullish move to the weekly imbalance.
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Price is approaching the year highs
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Let's watch price movement tomorrow for the NFP reports, if it gets to tally with our analysis.
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Price went to fill our weekly imbalance and we can spot a evening star formation, is the bears about to take over? We will get to confirm it's bears trend first before joining the train.
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The bears is confirmed, let's hit below.
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Seems like price is heading to give a second leg of an M formation after which price will start setting to the downside, we are still selling. Note that.
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The second leg is formed, the sell, might happen anytime now.
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Complete leveL ON H4, STILL HOLDING MY SELL BIAS
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We selling
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We moving
