Important to see where the next weekly candle closes as it could signify the next few weekly candles.
Price is in resistance area right now and if we do indeed see a weekly close and rejection of this area, we can expect downside movement (potentially to ascending trendline) for this pair in the coming weeks to come.
Price is in resistance area right now and if we do indeed see a weekly close and rejection of this area, we can expect downside movement (potentially to ascending trendline) for this pair in the coming weeks to come.
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Daily timeframe:
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Halfway through the week and price seems to have rejected resistance area. If the candle closes in red with a wick at resistance area, I'll be looking for opportunities (on lower timeframes) to short this pair in the next week.
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Might have short opportunities coming up on this pair:
