New LL expected
Updated
New lower low expected on the monthly.
Price missed monthly pivot when trend started and now price retraced to monthly pivot as it often does before the next impulsive wave to a new lower low on weekly
with breakdown of a established demand line. The fact that it was pierced already indicates bullish weakness. I believe price will reach yearly S2.
Look for short setups on 4 hrs .
Price missed monthly pivot when trend started and now price retraced to monthly pivot as it often does before the next impulsive wave to a new lower low on weekly
with breakdown of a established demand line. The fact that it was pierced already indicates bullish weakness. I believe price will reach yearly S2.
Look for short setups on 4 hrs .
Comment
Trend change qualifiers 1. Ttrendline break 2 Failure to make new higher high (so called "test of the high") 3 Break below the previous low - you have to learn thisComment
Missed pivot occur at the start of new trends. Before the next impulsive wave price pulls back to the next pivot - R. BookerComment
I would not go short now...price hit monthly pivot and is likely to move somewhat higher on 4 hrs. I went short on GBPAUD. See my other post.
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