Type: Bearish BreakoutKey Levels:Resistance: 1830Pivot: 1806.2Support: 1785.2Preferred Case:On the H4, with prices moving below the ichimoku indicator and along a descending trendline, we have a bearish bias that prices will drop to our pivot at 1806.2 where the horizontal swing low support and 78.6% fibonacci retracement are. Once we have downside confirmation, we would expect bearish momentum to carry price to 1st support at 1785.2 in line with swing low support, 61.8% fibonacci projection and 100% fibonacci projection.Alternative Scenario:Alternatively, price could rise to our 1st resistance at 1830 in line with overlap resistance and 38.2% fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/gc1-h4-or-potential-bearish-continuation30"
via IFTTT
Subscribe to:
Post Comments (Atom)
-
The new strain of covid found in South Africa could disrupt plans by governments and central banks to rebuild economies. Financial markets a...
-
Fidelity “FIS” is a global financial services technology company and a leader in providing technology solutions to merchants, banks and cap...
-
Asian Equities Sink on Covid FearsIt’s been a mixed start to the week for global equities benchmarks with US and European asset markets rema...
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.