At the start of the week, price broke out of our daily level of 167.500 and the 4H resistance level. Price has recently came back into the 4H zone for the retest and in the same time frame price has retested and created a bullish engulfing candlestick to confirm the move to the upside into 170.000. If price is willingly able to break that daily level of 170.000...
Price broke out of bearish channel in the daily and major key level at 0.98750, were price broke out and currently is retesting in the 4H. Moving down the 1H, after the break out of the key level price action shows a double bottom and a bullish engulfing candlestick to continue the trend onto the next set of highs.
Price has recently shown bullish momentum in the higher time frames and price action in the 1H time frame has broken previous highs and bearish trend line. GJ is in a position of continuing to the upside and currently retesting the last highs/ 1h bearish trend line and a small 1H support level. Stop loss under 1H support level and targets onto next Daily HIGH.
Break out of bearish trend line,
Break and retest,
4H resistance broken and
tested
New HH in 4h TF
Bullish pennant in 1h TF,
TARGETING 166.00 to trend
line and key level.
4h hour support broken with bull price action
connecting the bear trend line to each wick we see the trend being broken and retested with bullish PA having a bull outlook into 1.21
EMA trend changes to bullish in the 1h time frame
recently we broke our daily and 4h level at 1.57300. daily closure under level and 4h retest on the level and on last recent low. 1h timeframe we clearly see the break and retest and the bearish confirmation with the bearish engulfing candlestick.
Looking to target into the last lows @ 1.55785
After a massive bullish trend price hits strong resistance level of 1.89500. Placing the Fib I see the levels 78.6 and 61.8 tend to be very strong. Daily candle closure creates a wick (rejection) indicating a loss of momentum and weakness. Lastly, in the 4h price closes below highlighted zone and engulfs. Next daily closures will create the outlook for either a...
Price has been creating an ascending channel and a level of support in the Daily/4H where price has lost its momentum towards the bullish side. Recently it also decided to create a bullish trend in the lower timeframes, but price is unable to create new higher highs at 1.56100. Candle closures in the 4h/1h show bearish correlation, along with fib rejections in the...
Price has been creating an ascending channel and a level of support in the Daily/4H where price has lost its momentum towards the bullish side. Recently it also decided to create a bullish trend in the lower timeframes, but price is unable to create new higher highs 1.56100. Candle closures in the 4h/1h show bearish correlation, along with fib rejections in the...
Gold has been consolidating between 1740 and 1724 creating new LH's and LL's this whole week. Previously in the higher time frames we've been seeing a pull back into 1750 since the massive momentum to the downside. Though price has reached that level (1750), till today, it's unable to break and forms a new bearish...
