Now that price has almost matched prior lows
we will wait to see if this can be broken on a
4h tf. WE have very strong area of s/r around
1235-1240. To see if this is a true bullish run I
will wait until this area can be hit and wait for
the pullback. Although I do see price taking
this next leg up.
After the break of the ascending trend line
and no bodily closure below 110 we find ourselves
retesting daily resistance at 111.5 a nice
psychological level and a clean test at our
favored fib zone. Fridays candle showed that
sellers are now getting in from three full days of
bullish pressure. If you take the mouth of the
ascending wedge and follow the...
We have a daily break and closure below the
ascending trend line. From the mouth of the
ascending wedge we can expect that price will
duplicate the move and hit daily support at 92.5.
After the break of the ascending trend line
and no bodily closure below 110 we find ourselves
retesting daily resistance at 111.5 a nice
psychological level and a clean test at our
favored fib zone. Fridays candle showed that
sellers are now getting in from three full days of
bullish pressure. If you take the mouth of the
ascending wedge and follow the...
We finally got the third touch of the ascending trend line
last week and price broke through came back
to retest daily support at 1.31 which also set
up the H&S pattern. Over all target will be support
at 1.28. IF we see price break and gives a nice daily/weekly
closure below 1.28 we can expect to hit overall
target at 1.26 which will line up with daily...
This is a huge play, Last Friday we saw the inverted
H&S play out on this pair. With a daily bullish engulfing
we can expect more upward movement, we just need
a good entry. Allot of things have to happen for
this to play out and we will work it as it comes.
We have to understand that the 50% fib aligns up
perfectly at resistance at 1.1925. A big play would be the...
