Good morning,
Last time we consider downside AB-CD pattern a bit different shape but with the same target. As BC leg becomes more extended, we change the shape of the pattern a bit, but still watching for the same 6850-6900$ area.
From technical point of view it creates comfortable level for long entry because of 5/8 Fib support, AB-CD target. Besides, once AB-CD will be completed we will get "222" Buy" pattern in place and right bottom of reverse H&S pattern on daily chart.
Last time we consider downside AB-CD pattern a bit different shape but with the same target. As BC leg becomes more extended, we change the shape of the pattern a bit, but still watching for the same 6850-6900$ area.
From technical point of view it creates comfortable level for long entry because of 5/8 Fib support, AB-CD target. Besides, once AB-CD will be completed we will get "222" Buy" pattern in place and right bottom of reverse H&S pattern on daily chart.
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.