G/A is poised with elegant lower high and higher high for sometime, and we expecting the trend to continue. We looking for a retracement back to the daily zone at around 1.85643, looking for rejections confirmation on the lower time frames before following the trend to the upper area of the last price high at around 1.86501. This is being said we might have to be...
Price were going down for some time now with massive rejection wicks on previous weeks. Going forward this week, I'm expecting the same, I'll be looking for pull back to around 0.68700, then wait for couple of rejections on smaller time frames for more precise accurate entry (you can use ATR to manage entry risks) before shorting the market to 0.67814 - where...
I'll be looking to short G/U if I see several rejections from S&D zone 1.38634 or 1.38038. The reasons; there a break of structure to the downside, the market is bearish for couple of weeks, there are unbalance underneath and price need to mitigate the previous S&D zone at 1.36635. All these confluences gives us a strong indication that the market is moving south...
G/A has been on upwards channel since 2016 and I'm expecting the trend to continue with the positive sign of 2 bullish weekly candles departing the bottom of the channel upwards. If price crack above 1.85535 clearing monthly highs since June 2020, my expectation the upward trend will go as far as the monthly fib level of 61.8 (1.90705). I'll be looking for a safe...
With price failing to establish higher high and higher low, I believe a correction is due. It's clearly now we have several rejections from a major SNR and the likelihood price will go down at least for a short period. As MA 50 D has been acting as SNR since Nov 2020, I think price will go down as far as 83.953 or perhaps 82.925 before the trend is established...
Exhaustion on 4h from this price, however, SNR below has been rejected multilabel times with price shooting up previously at the end of Feb 21 and in sync with RSI over sold movement. If price level up with the red exhaustion candle on the left OR rejected SNR below it's very likely to hit the SNR above at 0.71000 and probably higher.
