100% PRICE ACTION
Hey guys, one more forecast for the week. Here we can that price is moving in an uptrend for a long time. Price couldnt break above the high it created and so began its move down. Price then began to create a correction (bearish flag). Price created a key structure at the 50% retracement area of the fibonacci, indicating a strong structure. as price breaks below this structure AND the long term trend line it stalls. this could mean that bulls are trying to push to the 50% area once again. if price does this (which would be a retest) then this could be an amazing entry for a sell!
DISCLAIMER:
PLEASE DO NOT TAKE MY ANALYSIS AS THE HOLY GRAIL AND PLACE TRADES BECAUSE OF THIS. THIS IS JUST A POSSIBLE OUTCOME OF THINGS THAT COULD HAPPEN, NOT THINGS THAT WILL HAPPEN!!!
Hey guys, one more forecast for the week. Here we can that price is moving in an uptrend for a long time. Price couldnt break above the high it created and so began its move down. Price then began to create a correction (bearish flag). Price created a key structure at the 50% retracement area of the fibonacci, indicating a strong structure. as price breaks below this structure AND the long term trend line it stalls. this could mean that bulls are trying to push to the 50% area once again. if price does this (which would be a retest) then this could be an amazing entry for a sell!
DISCLAIMER:
PLEASE DO NOT TAKE MY ANALYSIS AS THE HOLY GRAIL AND PLACE TRADES BECAUSE OF THIS. THIS IS JUST A POSSIBLE OUTCOME OF THINGS THAT COULD HAPPEN, NOT THINGS THAT WILL HAPPEN!!!