I do not know what will eventually happen,But until then, staying the OODA Loop I've tried to take pulse of the chart.
The bullish intentions have been made clear. Lets see which setups plays out eventually.
Would have been stronger if this close was above the large red candle on left. (off by some 40pips)
Hence this keeps the options of deep retrace very likely.
Especially for next leg up to Bollinger mid.(34 MA) which may meet price at the 10000 by then.
This down move likely to be to
- Retest of trendline break
- Retest of MA's 10
- 30-50% retrace of last 3 bulls weeks
- Test yellow resistance turned support zone.
The bullish intentions have been made clear. Lets see which setups plays out eventually.
Would have been stronger if this close was above the large red candle on left. (off by some 40pips)
Hence this keeps the options of deep retrace very likely.
Especially for next leg up to Bollinger mid.(34 MA) which may meet price at the 10000 by then.
This down move likely to be to
- Retest of trendline break
- Retest of MA's 10
- 30-50% retrace of last 3 bulls weeks
- Test yellow resistance turned support zone.
