Supply & Demand by previous weekly circle. Meanwhile the Snr level i take by the the previous Daily moves. high probability that the price would drop till that Support + Channel line :D Trade with good risk management
Since we saw strong bearish movement on the higher timeframe, high probabily that price going down with strong momentum which we had clearly seen there have gap between Base it also shown where the high Liquidity Zone with good risk reward count let short this after we spot any continuation move confirmation
HIGH PROBABILITIES GJ WILL DROP UNTILL THAT ZONE ACCORDING TO FIBO MEASUREMENT . ANYWAY, THERESA MAY (BRITISH PM) HAS BEEN STEP DOWN ON THE LAST FRIDAY (24 MAY 19) , we hope that bring more positive market structure for Pound-Sterling after this :) T.A.Y.O.R
Its been 3 weeks GJ market structure going down. High possibility that next week GJ will continue goes down.
Why it continues go down?
First Reason: (H1) has Shooting Star which it stab the Supply Zone so i consider that is a high possibility rejection candle
Second Reason: (H4) Clearly Shooting Star stab the Supply Zone
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XAUUSD/GOLD
We clearly saw the DIVERGANCE below and the price absolutely cant go thru the RESISTANCE level above. other than that, it is clearly bearish engulfing pattern. HIGH PROBABILITIES the price will go down. thank you
Would the market do 1 more Pullback on Support Zone? i will keep my eyes for Rejection or even a Continuation Pattern. Dont forget to share your ideas if you dont mind. Thanks
it is clear " Bullish Falling Wedge " setup. if it doesn't break the TL most probably it would test the H4 support line again before going up to complete those continuation pattern. just being alert for coming up news. peace
