We are at a major price reversal zone based on the current counter trends fib retracement reading (4H fib). I percieve this as momentum doing one of two things: transitioning the momentum on the daily price action to an uptrend (unlikely) or continuing the next leg down after a potential consolidation near the previous support turned resistance potentially after some intraday consolidation. I favor this outcome because of the engulfing bullish candle on our daily chart, and overall daily momentum. I am watching, however, the exhaustion being created on the weekly structure, as this is another potential higher low and could be an important fib level. I would be interested in seeking to follow current downward momentum toward 1.30490
Leading into the weekend, I am interested in this set up, because I think it will very much effect our opening of next week.
Leading into the weekend, I am interested in this set up, because I think it will very much effect our opening of next week.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.