As seen on the 4Hr timefame, we have just witnessed a breakout on the bullish triangle which has been created for the past one week or so. This breakout signals a uptrend with prices looking to break the previous 2.80 highs.
from the 5min timeframe we have a clear indication of a fair-value-gap order being filled. labelled as ffvg(Favourite fair value gap) as it happens to be just above the 200MA indicator as well. Already this is a clear indication on how ready the market is, and how much momentum the market is gathering to set new highs. Over sunday crossing over to monday I believe...
huge support we can see as labelled in the chart. Expecting price to break the key support in response also to the head and shoulder pattern that emerged as labelled. Currently expecting a drop down to 161% on the Fibonacci retracement key area. 200 SMA on short side
