A brief overview of the 4H chart as it stands at market close.
If the short-term trend is correct then the impulsive rejection of support at 1730 levels was just the price coming back to retest the break! This could also be leading up to be forming a H&S pattern on this chart. Something we will be monitoring once the market opens on Sunday evening.
Breaking back into the trend then we can see the higher levels of around 1765....This is a crucial point for bears to take control again and for this to go back down. Our bias last week was buliish, it worked out well for us. Next week we're neutral to start with, testing 1765 and we think we may short it.
Support:
1737-35
1730
Resistance:
1750
1765
As always, trade safe.
If the short-term trend is correct then the impulsive rejection of support at 1730 levels was just the price coming back to retest the break! This could also be leading up to be forming a H&S pattern on this chart. Something we will be monitoring once the market opens on Sunday evening.
Breaking back into the trend then we can see the higher levels of around 1765....This is a crucial point for bears to take control again and for this to go back down. Our bias last week was buliish, it worked out well for us. Next week we're neutral to start with, testing 1765 and we think we may short it.
Support:
1737-35
1730
Resistance:
1750
1765
As always, trade safe.
🔵 FREE TELEGRAM CHANNEL: t.me/KnightsofGold
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
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.
🔵 FREE TELEGRAM CHANNEL: t.me/KnightsofGold
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
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.