Now that price has almost matched prior lows we will wait to see if this can be broken on a 4h tf. WE have very strong area of s/r around 1235-1240. To see if this is a true bullish run I will wait until this area can be hit and wait for the pullback. Although I do see price taking this next leg up.
After the break of the ascending trend line and no bodily closure below 110 we find ourselves retesting daily resistance at 111.5 a nice psychological level and a clean test at our favored fib zone. Fridays candle showed that sellers are now getting in from three full days of bullish pressure. If you take the mouth of the ascending wedge and follow the...
We have a daily break and closure below the ascending trend line. From the mouth of the ascending wedge we can expect that price will duplicate the move and hit daily support at 92.5.
After the break of the ascending trend line and no bodily closure below 110 we find ourselves retesting daily resistance at 111.5 a nice psychological level and a clean test at our favored fib zone. Fridays candle showed that sellers are now getting in from three full days of bullish pressure. If you take the mouth of the ascending wedge and follow the...
We finally got the third touch of the ascending trend line last week and price broke through came back to retest daily support at 1.31 which also set up the H&S pattern. Over all target will be support at 1.28. IF we see price break and gives a nice daily/weekly closure below 1.28 we can expect to hit overall target at 1.26 which will line up with daily...
This is a huge play, Last Friday we saw the inverted H&S play out on this pair. With a daily bullish engulfing we can expect more upward movement, we just need a good entry. Allot of things have to happen for this to play out and we will work it as it comes. We have to understand that the 50% fib aligns up perfectly at resistance at 1.1925. A big play would be the...