last three retracements pulled back to the
38% mark before bouncing up to just above
the 23%, before trend continuation down to
the 61.8% retracement.
Price is now at the 38% so look for longs up
to the 23% area (15200ish). at that point
shorts to around 14000 (61.8%). at this point
price should get very bullish and go to new ATH.
The Point of control for the month of Sept is at around 15410. Most indictors are bearish on the higher time frames. I can see price coming up a bit to retest the POC. With weak bearish pressure its possible to see a push down to EMA and support. Here is where we should start looking for signs of reversal on the lower time frames. In the immediate future id...
Lots of nice pivots come out of this level. Good chance price will reverse to test the bottom of the channel. Good place for a stop just over the previous swing high. Looking for bearish formations on lower time frames for entry. Good luck.
If we stay bearish on this pair this is how id expect it to play out. T/P 2 would be a longer term hold. always watch for candle formation at lower time frame for entry, and good luck!
I'm really watching for bullish formations on lower time frames between 95, and 94.82. If those levels can hold, and we get an impulse move to the upside this is my ideas of possible target levels. Its when price closes below 93.90 handle I'm getting bearish.
