Morning folks,
So, our minor downside continuation has happened, although the shape of suggested AB-CD pattern has become a bit different. Still, overall price action stands very lazy in recent 1-2 weeks and almost provides no topics for discussion.
In general, we do not see any worrying signs and market still keeps bullish context. It's invalidation point still stands around 10.5K. Maybe some short-term problems could appear if price drops below 11.1K as well. But no of these events now stand on horizon.
It means that currently we could do just one thing - keep an eye on intraday charts, trying to catch any patterns on signs that agrees with the context. Thus, take a look, on 1H now we have minor "222" Sell, but what is more interesting - the price action inside the circle, it might be reverse H&S right at Fib K-support area. Once & if it will be formed - that at least something that we could try to use...
So, our minor downside continuation has happened, although the shape of suggested AB-CD pattern has become a bit different. Still, overall price action stands very lazy in recent 1-2 weeks and almost provides no topics for discussion.
In general, we do not see any worrying signs and market still keeps bullish context. It's invalidation point still stands around 10.5K. Maybe some short-term problems could appear if price drops below 11.1K as well. But no of these events now stand on horizon.
It means that currently we could do just one thing - keep an eye on intraday charts, trying to catch any patterns on signs that agrees with the context. Thus, take a look, on 1H now we have minor "222" Sell, but what is more interesting - the price action inside the circle, it might be reverse H&S right at Fib K-support area. Once & if it will be formed - that at least something that we could try to use...
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/