Current price at bottom of channel and at 61% zone.
Lower time frame tests outside of longer term downtrend line, fighting the natural s/r.
Up coming positive news for the US likely to be the catalyst to push prices up near the middle of the channel, as they were the catalyst for the extreme drop to the bottom.
Current price still sitting above DAILY 20EMA, indicating a strong trend, sitll. Bullish Bias.
Lower time frame tests outside of longer term downtrend line, fighting the natural s/r.
Up coming positive news for the US likely to be the catalyst to push prices up near the middle of the channel, as they were the catalyst for the extreme drop to the bottom.
Current price still sitting above DAILY 20EMA, indicating a strong trend, sitll. Bullish Bias.
Note
Note
Not the expected outcome however, was prepared for the latter. Short term positions made on this expected move either closed above BE or left open underwater. Pull back expected soon after this impulse.
Related publications
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.
Related publications
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.