MTF Analysis
Monthly TF perspective
Pattern: Inverted Head & Shoulders
-Right shoulder forming at the Low of previous Month January. Price is also at the previous week's level.
-Looking at the next 3 months might be LONG til pattern's completed.
Weekly TF perspective
- My bias for Weekly Fibonacci retracement level for violent push upward is at 38.2 -- this retracement level also coincides with the downtrend Daily TF Fib 27 ext level.
- Many confluence at the 00 levels on H4 and H1 OB's and wick on wick area.
- .8350 is in confluence with the weekly key level
Daily TF
- .0875 / quarter level coincides with Daily Fib's 27 ext
Bias:
-Price will reach .8400 and will do a stop hunt until the 50's (.8350) before going up.
-Looking at the next 3 months might be LONG til pattern's completed.
Monthly TF perspective
Pattern: Inverted Head & Shoulders
-Right shoulder forming at the Low of previous Month January. Price is also at the previous week's level.
-Looking at the next 3 months might be LONG til pattern's completed.
Weekly TF perspective
- My bias for Weekly Fibonacci retracement level for violent push upward is at 38.2 -- this retracement level also coincides with the downtrend Daily TF Fib 27 ext level.
- Many confluence at the 00 levels on H4 and H1 OB's and wick on wick area.
- .8350 is in confluence with the weekly key level
Daily TF
- .0875 / quarter level coincides with Daily Fib's 27 ext
Bias:
-Price will reach .8400 and will do a stop hunt until the 50's (.8350) before going up.
-Looking at the next 3 months might be LONG til pattern's completed.