Morning folks,
We still follow our suggestion of reverse H&S pattern on 4H chart, although we have adjusted its shape a bit and make it larger, but overall idea stands the same. Our short-term plan consists of two parts.
First stage is downside continuation to form the bottom of the right arm. Here we're watching for 9875-9935 area where we have major 5/8 FIb level, Butterfly and AB=CD target. This is potentially the area where market could turn up.
Next step is to consider long entry. That's what we have for 1-2 sessions probably. Then we need just to watch whether market will follow to H&S and we could focus on higher stand targets, or H&S will fail, which will be the signal of downside continuation and major breakout of 9K area...
We still follow our suggestion of reverse H&S pattern on 4H chart, although we have adjusted its shape a bit and make it larger, but overall idea stands the same. Our short-term plan consists of two parts.
First stage is downside continuation to form the bottom of the right arm. Here we're watching for 9875-9935 area where we have major 5/8 FIb level, Butterfly and AB=CD target. This is potentially the area where market could turn up.
Next step is to consider long entry. That's what we have for 1-2 sessions probably. Then we need just to watch whether market will follow to H&S and we could focus on higher stand targets, or H&S will fail, which will be the signal of downside continuation and major breakout of 9K area...
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.