Going into this next week/new year, we've got LOTS of bullish momentum to continue to the upside on the monthly and weekly timeframes. Once we drop down to the daily we start to see some buyers exhaustion. Which makes sense because we are on monthly key level of 1.36000.
To begin the new year, I am seeing some sort of bearish retracement at least until our...
Short term buy here, looking for a retracement up into our confluence zone around 1.3370. This is where we are looking to potentially sell. We have just formed a ton of buyers exhaustion here on the weekly timeframe. We also tested that point of daily structure from the 1.3350 area, never officially broke above, this gives us more bearish sentiment. H4 EMA's also...
Bullish retrace this past week. We still have about another 30-60 pips to the upside here for our overall retrace. This puts us right at our confluence area consisting of:
Monthly Key Level 1.30000
61.8%
H4 Descending Trendline
Daily: We're at an 88.6 retrace for the overall bullish move. We rejected off of that area making it our new LL and now we're creating...
WEEKLY: Currently trying to close below our 38.2%. MA's starting to cross bearish (gotta remember though, it's only Monday. Candle has plenty of time to form)
DAILY: 3rd Tap on descending trendline. LH created after that, along with the bearish cross of our MA's
H4: Aggressively pushed past our monthly key level of 1.30000
H1: Patiently waiting for retrace to...
