First Trading Sniper video of the month brings us three interesting setups. The first one is on Bitcoin, where the price failed to come back above the 11k USD resistance. Bitcoin created a pennant formation, which, as expected, ended with the bearish breakout. Currently, we are below the psychological barrier of 10k USD with a great chance to test the 8.7k USD soon.
AUD/CAD was looking extremely bullish at the first half of this week but the buy signal was eventually cancelled. We had two positive formations here: iH&S and a flag. Both of them got denied today. The price reversed and went back inside of the flag and below the neckline. That is a false breakout pattern, which triggers a strong sell signal on this instrument.
For the past few days, NZD/USD was trying to break the 0.739 resistance. So far without a success. The price created three daily candles with long heads, which increase the chances for a reversal. Before going short in such a strong upswing it would be better to wait for the the breakout of the 0.731 support first.