Morning everybody,
So, market follows to our suggestion of more extended downside action and we gradually is coming to culmination point - 8325 major AB=CD target, which stands slightly below major 5/8 Support area.
This level is crucial for short-term term direction, because bullish market should turn up from there as technical support of Fib + target is strong enough. Conversely, drop below the target without any response tells us
that something is wrong with bullish sentiment.
Based on this simple logic bulls could watch for upside reversal patterns here (such as a butterfly that we've put here). Once any will be formed - it is possible to make attempt to buy. Stop should be placed by the pattern.
Bears should watch for opposite thing - downside breakout of 8.3 K area and erasing of bullish setup. In this case chances on total reversing of the Xi rally will be significantly higher.
So, market follows to our suggestion of more extended downside action and we gradually is coming to culmination point - 8325 major AB=CD target, which stands slightly below major 5/8 Support area.
This level is crucial for short-term term direction, because bullish market should turn up from there as technical support of Fib + target is strong enough. Conversely, drop below the target without any response tells us
that something is wrong with bullish sentiment.
Based on this simple logic bulls could watch for upside reversal patterns here (such as a butterfly that we've put here). Once any will be formed - it is possible to make attempt to buy. Stop should be placed by the pattern.
Bears should watch for opposite thing - downside breakout of 8.3 K area and erasing of bullish setup. In this case chances on total reversing of the Xi rally will be significantly higher.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.