After this week's bearish rally of EU the prices seem to stop to build a pre-continuation accumulation structure. Mr. Wyckoff comes into play with a clear PS (preliminary support). Glad to see it around this area, as we're clearly 'touching' a lower channel line (1H structure). What can we expect? As usual some fakey fakey(!) should come into play, not only candles, but the whole structural movements, so be careful around the lower channel area.
A potential for a down-continuation for the 1,12-1,13 psycho levels (doubling with some money left out last time price was there) area in the upcoming weeks, however there's a possibility of the price coming back to 1,16 psycho-round-number-it's-a-bingo... to rob the bank once again and get the prices down. Definitely something to watch out for around those areas.
With no super important news coming out till the market close for the week, I'm watching the structural development of the price, and I'll keep you posted about my ideas for the thingy :) just my thoughts, nothing more.
Have a great weekend traders.
A potential for a down-continuation for the 1,12-1,13 psycho levels (doubling with some money left out last time price was there) area in the upcoming weeks, however there's a possibility of the price coming back to 1,16 psycho-round-number-it's-a-bingo... to rob the bank once again and get the prices down. Definitely something to watch out for around those areas.
With no super important news coming out till the market close for the week, I'm watching the structural development of the price, and I'll keep you posted about my ideas for the thingy :) just my thoughts, nothing more.
Have a great weekend traders.