No trade area, I personally think 1961 broke and open to 77, only if 1920 area holds, may be fake breakout lower trend line and up again.
I think it will range for sometime and then up. if it brakes the trend line lower, correction may go to 61.8% fib level.
Looking for long position from given cypher level
4 hour channel. short on rejection for 4 hour fib entrancement.
It's too hard to say that which way market goes, We are seeing supply zone in pink and demand zone in light blue, market have to retrace, but watch out fundamentals, it changes all every time. I am taking short if it crosses triangle bellow in 30M TF with tight SL.
upside to retest 1407 and retest trend line, if trend line holds then again up for the triple top.
1. 50% fib retracement done from the last move down, will it try again down to break that support? we have a channel and we have a gap in 15 minute chart at 1340 region. 2. US- China trade war, uncertainty may break channel upside and seeing 1366 level. miracle can happen if any news come either parties about to trade deal at G-20 summit. 3. the next scenario is...
but the question is that fundamentals are also supporting it to move upto 100?????
I am not sure how much time it will take to reach its final destination, moving above 1350, this pattern will invalid.
AB=CD pattern completed. classic pattern to buy, until price crosses lower red line that is 1.2534, then pattern will be invalidated.