AUDCAD in resistance zone, failed break out? Part 2

20 Nis 2020

So the daily candle didn't really play out as i hoped it would, was unfortunately not able to create a red body, because that green support held. It broke the red zone, but think it still has potential because it didn't really break up either. Think for now the green zone around 0.890 might be the key level short term, that level might decide whether i am right about the potential bull trap or not. So giving it a little bit more room to play out, think today's high as a max. If it breaks, i will get out and then wait for things to become clear. Also going to wait with with increasing, things are not running in my favor yet.


Previous analysis:

22 Nis 2020

Not

Patience is being tested :(, making new highs, but barely and short lived. Now again the daily candle is turning into a sell signal (if it closes below the green on the right). So i still believe it's a good RR here.

27 Nis 2020

Not

So this one didn't really play out, not a total miss read, but i have to admit, i had a good feeling about this one. It never broke that green support 0.890ish, so damage is small, but had high hopes for this. For now, nothing to see but maybe soon again the coming weeks