Im looking for a strong rejection at or near wkly opening price to push price back down to fill initial bullish imbalance candle left near recent low. Im looking for an entry near 19.8135 area once rejection is confirmed in this zone. Otherwise, if price continues for complete imbalance fill, we will look for even better entry at wkly low for bullish move back to...
Price broke previous resistance in the 1.31487 area only to fall back into previous zone where it was consolidating previously. It could break structure in either direction. However, I believe it will continue to the upside after pulling back slightly.
Price has already tapped the monthly high twice and has been unable to break through. I expect this to continue to fall to fill the imbalance at the very least before coming back up to retest monthly zone.
ANOTHER SIMPLE BREAK AND RETEST. IT MAY FALL BACK TO PREVIOUS 0.618 LEVEL FROM THE INITIAL BULLISH MOVE. MY BIAS IS THAT IT WILL CONTINUE TO MOVE TO THE UPSIDE.
Price has been trapped consolidating in the zone between the 0.68201 and 0.67931 area. There is also an imbalance area just above the .382 level around 0.67400. Look for price to break out in the coming hours.