MTF Analysis
Monthly TF perspective
Pattern: Inverted Head & Shoulders
-Right shoulder forming at the Low of previous Month January. Price is also at the previous week's level.
-Looking at the next 3 months might be LONG til pattern's completed.
Weekly TF perspective
- My bias for Weekly Fibonacci retracement level for violent push upward is at 38.2 -- this retracement level also coincides with the downtrend Daily TF Fib 27 ext level.
- Many confluence at the 00 levels on H4 and H1 OB's and wick on wick area.
- .8350 is in confluence with the weekly key level
Daily TF
- .0875 / quarter level coincides with Daily Fib's 27 ext
Bias:
-Price will reach .8400 and will do a stop hunt until the 50's (.8350) before going up.
-Looking at the next 3 months might be LONG til pattern's completed.
Monthly TF perspective
Pattern: Inverted Head & Shoulders
-Right shoulder forming at the Low of previous Month January. Price is also at the previous week's level.
-Looking at the next 3 months might be LONG til pattern's completed.
Weekly TF perspective
- My bias for Weekly Fibonacci retracement level for violent push upward is at 38.2 -- this retracement level also coincides with the downtrend Daily TF Fib 27 ext level.
- Many confluence at the 00 levels on H4 and H1 OB's and wick on wick area.
- .8350 is in confluence with the weekly key level
Daily TF
- .0875 / quarter level coincides with Daily Fib's 27 ext
Bias:
-Price will reach .8400 and will do a stop hunt until the 50's (.8350) before going up.
-Looking at the next 3 months might be LONG til pattern's completed.
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.
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.