Retracement will be deeper but what pattern will trigger it?
Greetings everybody,
So, our H&S behaves well by far, but now the degree of uncertainty is raising. As you could see on the chart downside action is slowing. What is it? Thin Xmas market or the bearish pressure is becoming weaker?
Long-term charts - monthly, weekly show that deeper retracement has high chances to happen in nearest 1-2 months. The problem is, it is difficult to estimate what particular pattern will trigger it. If market will keep going lower - it could be our H&S.
But what if we will get the different one instead? Something like this on daily:
That's why, if you have shorts - you could keep it, just manage your stops. But for now we take the pause with the new shorts. We do not consider longs as well, because the major context is down. Hopefully after NY we will get more clarity on this subject.
So, our H&S behaves well by far, but now the degree of uncertainty is raising. As you could see on the chart downside action is slowing. What is it? Thin Xmas market or the bearish pressure is becoming weaker?
Long-term charts - monthly, weekly show that deeper retracement has high chances to happen in nearest 1-2 months. The problem is, it is difficult to estimate what particular pattern will trigger it. If market will keep going lower - it could be our H&S.
But what if we will get the different one instead? Something like this on daily:
That's why, if you have shorts - you could keep it, just manage your stops. But for now we take the pause with the new shorts. We do not consider longs as well, because the major context is down. Hopefully after NY we will get more clarity on this subject.
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/
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