4H 50 SMA is Breached test to 200 EMA-SMA Cross is coming
Heya All,
In my yesterdays analisis, I have elaborated that if the price will breach 4h 21 SMA level I will be looking forward to the continuation to test 50 SMA and in case if 50 SMA would get breached then continuation to pay respect to 200 EMA -SMA Cross looking in the depths of the price action.
This cross traditionally has a massive gravitational pull and also a catapulting pish that permits prices to reach new hights. It will be incredibly bullish if the price will kiss, or hug this cross.
In the more immediate term, we have 50 EMA turned into resistance and we will see multiple attempts in upcoming hours to regain it. If price manages to close 4 hour price above 11390-114450 range, then I will be looking forward to upwards continuation without resolution of several concerning factors that I have described in my yesterday's post and in case if we move further away from this area I will expect the 200 EMA-SMA cross to get tested sometime soon (1-2 days) .
Please check out my trading idea published yesterday, it still holds as much water as it did nearly 24 hours ago.
Happy trading and stay safe.
Cheers
Archie
In my yesterdays analisis, I have elaborated that if the price will breach 4h 21 SMA level I will be looking forward to the continuation to test 50 SMA and in case if 50 SMA would get breached then continuation to pay respect to 200 EMA -SMA Cross looking in the depths of the price action.
This cross traditionally has a massive gravitational pull and also a catapulting pish that permits prices to reach new hights. It will be incredibly bullish if the price will kiss, or hug this cross.
In the more immediate term, we have 50 EMA turned into resistance and we will see multiple attempts in upcoming hours to regain it. If price manages to close 4 hour price above 11390-114450 range, then I will be looking forward to upwards continuation without resolution of several concerning factors that I have described in my yesterday's post and in case if we move further away from this area I will expect the 200 EMA-SMA cross to get tested sometime soon (1-2 days) .
Please check out my trading idea published yesterday, it still holds as much water as it did nearly 24 hours ago.
Happy trading and stay safe.
Cheers
Archie
Trade closed: target reached:
Things are moving in the general direction described in the above post. 50 EMA got decisively rejected and we got much-anticipated red waterfall to 10.9 level.
Will it continue to 10.6-10.7 levels? - Most likely yes.
My crystal ball says: "Fo' shizzle!"- yet I suggest not trusting crystal balls all that much ...
Will it continue to 10.6-10.7 levels? - Most likely yes.
My crystal ball says: "Fo' shizzle!"- yet I suggest not trusting crystal balls all that much ...