Daily confluence level is being respected.
Waiting to see the new year brings us. Possible down trend confirmation... Only time will tell.
Happy Holidays!
Bias: BULLISH
Here's why,
- 4H TF Double Top forming @ 162.650
- I predict price will pull back from 162.650 to 161.390, which is 50% FIBS level
- Once price hits 161.390 and pulls back, we will have an inverted head shoulder pattern on the 4H and 1H TF confirming bullish movement to upside
- After the retest of 161.390, my bias is bullish to DS level at...
Bias: Bearish
Here's why,
- Double Top formation on DTF @ 1.22770
- Price then dropped to DS @ 1.20662
- On LTF price broke under 1.20662 and is currently retesting this support as a resistance
- I will be going short after the retest to next major support @ 1.8050
- 1 hour TF my EMA's confirmed down trend continuation
- 30 min TF EMA's crossed for confirmation...
Way too many confirmations here, again the market is going to do what it does, but when you feel confident in your analysis ... DONT HESITATE! I have a bearish bias. Price currently bouncing off strong supply level in the 4H also on lower time frames. MA's on lower time frames are being rejected. Price is also retesting that 61.8%. I would say market will push...
My bias is price has reached Daily Support, Looking for market to break previous LH and retest then buy to the upside. I am not a trading GURU! Any comments and concerns please feel free to post them below! Other than that, Have a great trading week!
