Tactical pause is necessary
Morning folks,
So, 47.2K target is also completed. The next one is 50.50-52K, which is a big monthly cluster, including upside weekly XOP target, our XOP here, from reverse H&S target that we're trading now (it stands around 50.50K), Yearly Pivot Resistance 1.
But for now it seems market needs some tactical pause. Now major 5/8 monthly Fib resistance is hit, and price is overbought on daily chart. Thus, appearing of small 1H H&S pattern could trigger tactical natural pullback before market will proceed to the next target
So, 47.2K target is also completed. The next one is 50.50-52K, which is a big monthly cluster, including upside weekly XOP target, our XOP here, from reverse H&S target that we're trading now (it stands around 50.50K), Yearly Pivot Resistance 1.
But for now it seems market needs some tactical pause. Now major 5/8 monthly Fib resistance is hit, and price is overbought on daily chart. Thus, appearing of small 1H H&S pattern could trigger tactical natural pullback before market will proceed to the next target
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/
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