Price has reached at both the 0.382 fib retracement level of the previous impulsive downmove and the upper bond of the correction in which it has been moving for a long period of time. Most likely price will reverse from that point, so for the upcoming week we should watch for a sell setup to complete to short the market. In case price breaks through this level, we should wait for a pullback and watch for longs for a larger orrective structure.
Have a nice trading week..
Have a nice trading week..
Komen:
It seems that we will have another rejection of the level today. A good sign that this level is full of sellers.
Komen:
This week is coming to end and we based on my median line analysis we have a sell setup at this pair with price being rejected at a valid slope slide parallel. We better wait for Monday to get involve...