NZDCAD 1h Bullish Double Bottom vs. Resistance trendline
Initially, I was looking at the above setup as a bearish rejection from the resistance trendline.
To not let my bias get the best of me, I also noticed that the two arrows point to a double bottom.
- Notice how the second bottom is a higher low than the first bottom, indicating bullish pressure and the inability of bears to push price down below the previous low)
It is hard to say in this instance, so I suppose I'll be waiting for a clear signal to go either direction.
To not let my bias get the best of me, I also noticed that the two arrows point to a double bottom.
- Notice how the second bottom is a higher low than the first bottom, indicating bullish pressure and the inability of bears to push price down below the previous low)
It is hard to say in this instance, so I suppose I'll be waiting for a clear signal to go either direction.