Hi Rayner. Thanks for another great video. One question, AudUsd pair, daily chart, isn’t that a ” Pin Bar ” at/close to support level ? followed by bullish engulfing ? Doesn’t this confirm that the downward trend has come to an end? Your concern is the weakly chart, which is still bullish? But I can see a pin bar there too. Do correct me, I’m still learning. Thanks.
Yes there’s a small bullish pinbar on the daily chart, however given the size of it relative to the previous candles, i wouldn’t be too bullish about it.
I’m still anticipating a break of the downward trendline before looking for any longs.
Hi Rayner. Thanks for another great video.
One question, AudUsd pair, daily chart, isn’t that a ” Pin Bar ” at/close to support level ? followed by bullish engulfing ?
Doesn’t this confirm that the downward trend has come to an end?
Your concern is the weakly chart, which is still bullish?
But I can see a pin bar there too.
Do correct me, I’m still learning.
Thanks.
Sorry there is typo. Should be..
Your concern is the weakly chart, which is still ” bearish ” ?
And not “bullish”
Hi Haj,
Yes there’s a small bullish pinbar on the daily chart, however given the size of it relative to the previous candles, i wouldn’t be too bullish about it.
I’m still anticipating a break of the downward trendline before looking for any longs.
Cheers!