20-21K for short term long position
Morning folks,
Based on recession fears and some decrease of crude oil prices, as well as anticipation of lower CPI numbers tomorrow, market falls in euphoria, suggesting deeper upside bounce. We do not see any positive change in fundamental picture and treat this action as temporal.
Still, in short-term, market has formed bullish reversal swing, and potentially could form the H&S that we've talked last week. Thus, 20-21K area seems interesting for possible long position taking. Also this area is vital for the bullish scenario. Since upside action looks thrusty, we do not consider new shorts by far, waiting how this bullish performance will be finished.
Based on recession fears and some decrease of crude oil prices, as well as anticipation of lower CPI numbers tomorrow, market falls in euphoria, suggesting deeper upside bounce. We do not see any positive change in fundamental picture and treat this action as temporal.
Still, in short-term, market has formed bullish reversal swing, and potentially could form the H&S that we've talked last week. Thus, 20-21K area seems interesting for possible long position taking. Also this area is vital for the bullish scenario. Since upside action looks thrusty, we do not consider new shorts by far, waiting how this bullish performance will be finished.
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/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.