Morning folks,
So, our major daily target is hit. Price stands at daily major 5/8 Fib resistance level, our 4H AB=CD target is completed as well. We were considering different ways, how this could happen, talked on retracement first, then talked on immediate upside action and using Stop "Buy" order above 9.2K area - all these stuff is tactic minor nuances. Major thing is market hits primary target before NFP release. It makes overall task more simple.
On 4H chart we have bearish signs. Upward action has been completed by butterfly, MACD divergence is growing here and potentially we could get reverse H&S pattern. It means that we have to manage our longs somehow - book it totally, or, at least book it partially and tight stops. Do something.
In current situation technical picture suggests no new longs by far. Shorts are possible. But, we're in NFP release turmoil guys. Our bets today mostly looks like gambling. Although I suggest that NFP should be bad, as gold, EUR shows bullish background and stocks should be hurt today. But nobody could tell it definitely. Thus, most conservative approach is close your longs and wait for the next week.
Good luck to everybody today.
So, our major daily target is hit. Price stands at daily major 5/8 Fib resistance level, our 4H AB=CD target is completed as well. We were considering different ways, how this could happen, talked on retracement first, then talked on immediate upside action and using Stop "Buy" order above 9.2K area - all these stuff is tactic minor nuances. Major thing is market hits primary target before NFP release. It makes overall task more simple.
On 4H chart we have bearish signs. Upward action has been completed by butterfly, MACD divergence is growing here and potentially we could get reverse H&S pattern. It means that we have to manage our longs somehow - book it totally, or, at least book it partially and tight stops. Do something.
In current situation technical picture suggests no new longs by far. Shorts are possible. But, we're in NFP release turmoil guys. Our bets today mostly looks like gambling. Although I suggest that NFP should be bad, as gold, EUR shows bullish background and stocks should be hurt today. But nobody could tell it definitely. Thus, most conservative approach is close your longs and wait for the next week.
Good luck to everybody today.
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.