Update to the earlier post on potential bearish cypher pattern. This pattern has just been completed in H4. Price has started poking into PRZ. Given the recent bullish momentum, will be watching for price action confirmation in PRZ before going short.
what is your trade ideas, giving the outlook n tension
Casey_Yeo
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We can clearly see from weekly and daily that this market is consolidating and it is getting narrower. I will leave this alone for the time being until the market breaks out and show me the direction, as I'm not a breakout trader. Breakout traders may have placed pending long order above and short order below the pennant (hope I got that pattern's name correct).
Casey_Yeo
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what is your take on this?
LumTuck
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giving the current environment and tension, Russia is stocking up Gold, Long could properly good chance.. market will tell.. what is your take?
Casey_Yeo
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My take is per my earlier comment with chart above. Let the market leads the way. I don't burden myself too much with news but just be aware of important announcements coming out. Happy trading!