Good morning everyone
- A push and close over 10580 was the key to heading for the next Fibonacci level.
- Our In-House Steamroller indicator giving us a clear outlook on what to expect on this timeframe, we're now reaching that overbought level for the second time up against this 38.2 Fib level now.
- The next target would be that 10800 level, possibly forming a range between the 10k level.
- There is a significant area of liquidity that I'm not discounting at that 61 Fibs, which lines up almost perfect with the next level of Supply, but not getting too ahead of myself just yet.
- The Higher TF however is painting a bit of a different picture, with a slight rising wedge forming possibly leading towards that Gap to be filled in the longer term outlook of things.
- TL;DR
- Looking for this 38 Fib level to break, then a move to 10800.
- If this move increases in strength, then that 61 fibs is looking like a really nice level where a whole lot of liquidity is sitting.
- If we dont manage this, back down to Demand @ 10k to form somewhat of a range.
- A push and close over 10580 was the key to heading for the next Fibonacci level.
- Our In-House Steamroller indicator giving us a clear outlook on what to expect on this timeframe, we're now reaching that overbought level for the second time up against this 38.2 Fib level now.
- The next target would be that 10800 level, possibly forming a range between the 10k level.
- There is a significant area of liquidity that I'm not discounting at that 61 Fibs, which lines up almost perfect with the next level of Supply, but not getting too ahead of myself just yet.
- The Higher TF however is painting a bit of a different picture, with a slight rising wedge forming possibly leading towards that Gap to be filled in the longer term outlook of things.
- TL;DR
- Looking for this 38 Fib level to break, then a move to 10800.
- If this move increases in strength, then that 61 fibs is looking like a really nice level where a whole lot of liquidity is sitting.
- If we dont manage this, back down to Demand @ 10k to form somewhat of a range.