Greetings everybody,
Well, we put no comments for few days here, just because it was nothing to comment. After revolutionary Mr. Xi words market has frozen in flat action, forming triangle consolidation. While we do not see any superb content in Mr.Xi words that could be worthy of such a rally that we saw - it has happened anyway.
Now we suppose that market shows indirect signs of positive mood. The fact that these rally has not been reversed fast and market stands near the top for second week, forming a kind of pennant consolidation makes us think that upward breakout is more probable. We are not sure that it will be major upside reversal yet, but price could move slightly higher on a momentum of Xi rally.
The only problem here that we do not have any other patterns/tools except this triangle. Thus, if you intend to take a position (at any direction), now you could do it inside the triangle with placing stop outside of it. Everybody has to think twice, whether this context sufficient for trading...
Well, we put no comments for few days here, just because it was nothing to comment. After revolutionary Mr. Xi words market has frozen in flat action, forming triangle consolidation. While we do not see any superb content in Mr.Xi words that could be worthy of such a rally that we saw - it has happened anyway.
Now we suppose that market shows indirect signs of positive mood. The fact that these rally has not been reversed fast and market stands near the top for second week, forming a kind of pennant consolidation makes us think that upward breakout is more probable. We are not sure that it will be major upside reversal yet, but price could move slightly higher on a momentum of Xi rally.
The only problem here that we do not have any other patterns/tools except this triangle. Thus, if you intend to take a position (at any direction), now you could do it inside the triangle with placing stop outside of it. Everybody has to think twice, whether this context sufficient for trading...
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.