It’s been a feast for bulls operating on an hourly timeframe, as euraud has now gone up 4 of the past 5 hours.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.
If you apperciate my idea , please don´t forget like and support guysgood luck every one.
This is a reversal of the price action on the previous hour, in which price moved up.
Price action traders in particular will want to note that the 14 and 30 day periods appears to show price forming a base; this could indicate that a support/resistance level is developing.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.