1.
Daily chart: The chart is in continuous down trend. Just completed flag-similar pattern and now the consolidation is done. At this point, the price is pulling back to the previous low that was broken. (Highlighted area)
2.
4H chart: 55 EMA coming down at 240m chart and hitting the yearly pivot.
3.
1H chart: Gartley similar geometric is now complete.
Publishing this idea at 11/13/2015, 9:50am Tokyo time. It is FRIDAY! Institutional dealers need to close their long position that was made this week TODAY. So, this maybe a good opportunity to go short IF the price hangs around weekly pivot area when London session opens.
Enjoy Trading!!
Daily chart: The chart is in continuous down trend. Just completed flag-similar pattern and now the consolidation is done. At this point, the price is pulling back to the previous low that was broken. (Highlighted area)
2.
4H chart: 55 EMA coming down at 240m chart and hitting the yearly pivot.
3.
1H chart: Gartley similar geometric is now complete.
Publishing this idea at 11/13/2015, 9:50am Tokyo time. It is FRIDAY! Institutional dealers need to close their long position that was made this week TODAY. So, this maybe a good opportunity to go short IF the price hangs around weekly pivot area when London session opens.
Enjoy Trading!!