Morning guys,
the pullback that we've discussed last time, stands under way. Although, for the truth sake it has started not from our OP 8150 target but from 8.4K level which is daily 5/8 Fib resistance.
As we have good upside pace, tail closed candles, market is not at overbought - we do not expect deep retracement right now. Other words - upside action could be re-established from current level which is actually 1H K-support
Since there are no reasons to suggest that H&S scenario is over - we keep an eye on next destination point which is 8.9K...
If you prefer conservative approach and need more protection - wait for clear bullish patterns around 1H support levels - current K-support area and next one around 7.6K if maret will get there.
the pullback that we've discussed last time, stands under way. Although, for the truth sake it has started not from our OP 8150 target but from 8.4K level which is daily 5/8 Fib resistance.
As we have good upside pace, tail closed candles, market is not at overbought - we do not expect deep retracement right now. Other words - upside action could be re-established from current level which is actually 1H K-support
Since there are no reasons to suggest that H&S scenario is over - we keep an eye on next destination point which is 8.9K...
If you prefer conservative approach and need more protection - wait for clear bullish patterns around 1H support levels - current K-support area and next one around 7.6K if maret will get there.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.