Type: Bearish BreakoutKey Levels:Resistance: 1830.3Pivot: 1805.8Support: 1783.3Preferred 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 1805.8 where the horizontal overlap support is. Once we have downside confirmation, we would expect bearish momentum to carry price to 1st support at 1783.3 in line with swing low support and 127.2% fibonacci extension.Alternative Scenario:Alternatively, price could rise to our 1st resistance at 1830.3 in line with overlap resistance, 61.8% fibonacci retracement and 78.6% fibonacci projection.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/xauusd-h4-or-potential-bearish-drop"
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.