doing the opposite of retail traders
If there was ever a trade to make a million on this would be it. We see a head and shoulders on the 30 minute as a confirmation to go long.
Based on my calculations this area is the spot where most stops are located. On touch of the stops the market will either fully reverse or break through.
We can see that this area is a place that support = resistance.It is also a good spot to take a trade because it is not doing the same price action like candles did in that past that would signify that price would blow through this area.
The overal trend is down, but it does not mean we cant go long before shorting.
Area where two SR overlap perfectly.
USDCAD also has a head and shoulders and have broken a channel. Because these two pairs are negatively correlated, one should short usdcad and long audusd