cheeky chart update from my shanky nightshift eyes in Geelong....

cheeky chart update from my shanky nightshift eyes in Geelong.

daily timeframe top and weekly on the bottom.

clearly the declining volume was in direct correlation with 2 failed attempts to break the resistance/downtrend, which led to a 3rd and final attempt that resulted in a breakout to the downside and set a new all time low that i was concerned about. it was only 1 pip down from the previous all time low of .007 so not a massive deal but worth noting and keeping an eye on moving forward. more just the look of the numbers in the account thats not good to look at hahah

we are now trending sideways and bouncing off that new all time low which seems to be holding up. slight increase in volume in the grand scheme of things, which is the big ticket item in the supply and demand equation we all know that. still not touched on oversold yet on the weekly which we can see historically it likes to do before a significant run up. it is getting close, and it will be interesting to see how the volume is trending coming up to the resistance line again. i would like to see it really ramp up and roughly follow the yellow arrows ive got there.

we are below all the EMAs, not alot of volume at the minute, still a few weeks off the resistance line so more patience required unfortunately while it floats down to the oversold area for the moment. check back in closer to the mark. we just wanna see increased volume leading into the resistance line its as simple as that.

as always just my opinion and none of it should be taken to court. im not millionaire from trading........yet loool

bed time, peace.