Morning guys,
Market behaves well by far, keeping all conditions of bullish scenario. As we've said - retracement indeed was shy, although a bit extended in time. Anyway, upward action continues.
Now price has hit our next target - 9.7K which is 1.618 extension of BC leg. Once again, retracement has to be small. Price could re-test former consolidation and 1.27 target but should not drop back in former consolidation
and should not erase recent upside continuation. If this happens - it cuts chances on upside continuation and lead probably to deeper retracement (H&S could appear).
Thus, we could keep an eye on some AB-CD downside retracement and "222" Buy" pattern on 1H chart around 9450-9500 area with next target around 10K
Market behaves well by far, keeping all conditions of bullish scenario. As we've said - retracement indeed was shy, although a bit extended in time. Anyway, upward action continues.
Now price has hit our next target - 9.7K which is 1.618 extension of BC leg. Once again, retracement has to be small. Price could re-test former consolidation and 1.27 target but should not drop back in former consolidation
and should not erase recent upside continuation. If this happens - it cuts chances on upside continuation and lead probably to deeper retracement (H&S could appear).
Thus, we could keep an eye on some AB-CD downside retracement and "222" Buy" pattern on 1H chart around 9450-9500 area with next target around 10K
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.