Price failed to create higher high for days and thanks to China – selloff was immediate. Short positions added, first target 4090.00
Last week was all about support. Strong weekly close and bullish engulfing with daily close above previous high formed very bullish reversal pattern – inverted H&S which is targeting previous supply at 98.40. It is yet questionable is this a pull back and resuming big TF reversal down to 93.00 again but the fact is that USD is short term bullish. I would expect...
Weekly dark cloud cover pattern, daily bearish engulfing – this one is going to retrace more. 4H TF close below the support trend line hints that it is very likely to expect breakout validation and full retrace to at least 50.00 Fib. Close below 50.00 Fib could invalidate bullish setup from previous weekly newsletters. If such thing happens I would expect full...