It looks like price action has completed an abcd pattern with a nice wedge breakout up to 1.618 fib levels. Soon it should find some resistance from January 2017 highs around 1.394 zones. Price action is well above lowside trendline and within channel allowing for a nice 0.786 fib pullback into trendline support. I will be looking for exhaustion candles above 3.92648 to get in short to 3.89650. Momentum is still strongly bullish and the current parabolic impulse wave may not be over. If it falls to said levels expect support to carry it up to test late November 2017 highs around 3.98 zones. Higher risk trade taking into account for current major bullish wave.
ความคิดเห็น:
2hr chart indicators look like bullish momentum is starting to turn. Exhaustion wave coming soon
ความคิดเห็น: