Greetings everybody,
So, our bullish scenario is completed on 1H chart and now we could increase the scale a bit, turning to 4H chart. Now we see two potential patterns. First one is AB-CD with 9.7-9.8K target that agrees with major 5/8 Fib resistance level. This is our next objective point.
Next one is potential H&S pattern, with the neckline right at this 9.8K Fib level, but this is the subject for next week discussion.
As market has broken the trend line, Fib K-resistance area - it confirms short-term bullish context. Thus, we could expect upside continuation.
So, our bullish scenario is completed on 1H chart and now we could increase the scale a bit, turning to 4H chart. Now we see two potential patterns. First one is AB-CD with 9.7-9.8K target that agrees with major 5/8 Fib resistance level. This is our next objective point.
Next one is potential H&S pattern, with the neckline right at this 9.8K Fib level, but this is the subject for next week discussion.
As market has broken the trend line, Fib K-resistance area - it confirms short-term bullish context. Thus, we could expect upside continuation.
ForexPeaceArmy BTC analytics :
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/