Watch 1.10640 as a strong resistance zone and secondary resistance zone comes in at 1.10350 = Sell zone.
Previous AB - CD playing out point perfection
4 hour:
200 ma sits at 1.10350 (Sell zone)
1 hour:
Rising wedge on this corrective rally (waiting for breakout)
Wedge tip pointing to 1.10350
Tested 1.10043 (minor structure)
Corrective rally has 50% Fib retracement at 1.10096 acting as magnet and 38.2 % Fib at 1.10551 (in between Sell zone)
Hourly 200 ma sits at 1.1006 that could act as resistance
Targets:
1.08621 was previous support or buy zone (minor structure)
1.08171 was previous low
1.07000 AB - CD pattern
Short Invalidated IF:
Breaks above 1.1065
Breaks above 1.10991
Previous AB - CD playing out point perfection
4 hour:
200 ma sits at 1.10350 (Sell zone)
1 hour:
Rising wedge on this corrective rally (waiting for breakout)
Wedge tip pointing to 1.10350
Tested 1.10043 (minor structure)
Corrective rally has 50% Fib retracement at 1.10096 acting as magnet and 38.2 % Fib at 1.10551 (in between Sell zone)
Hourly 200 ma sits at 1.1006 that could act as resistance
Targets:
1.08621 was previous support or buy zone (minor structure)
1.08171 was previous low
1.07000 AB - CD pattern
Short Invalidated IF:
Breaks above 1.1065
Breaks above 1.10991
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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.
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.