So target for the three drive to a bottom is.....
Looks like there is a confluence of fib around 2.21 and comes in handy with the 200 ma on daily and the structural resistance zone.
I will be looking for a shallow retrace of 23.6 or max 38.2 fib for going bullish again heading for ma200. That will probably be coming in around 2.57 at that time.
I will be following the price of gold as well for confirmation on further upmove.
Speculative:
At 2.57 price action will stop and retrace - creating a possible neckline. Price then probably makes retrace to ma100. Price action could then be setting up a possible IHS.
BUT first things first ;)
Music at work:
open.spotify.com/track/3tTRsB5SxBva3G0d9RNYU6
youtube.com/watch?v=Rs38lKxmtI4
But as always.... time will show
Safe trading ladies and gents!
BM
Looks like there is a confluence of fib around 2.21 and comes in handy with the 200 ma on daily and the structural resistance zone.
I will be looking for a shallow retrace of 23.6 or max 38.2 fib for going bullish again heading for ma200. That will probably be coming in around 2.57 at that time.
I will be following the price of gold as well for confirmation on further upmove.
Speculative:
At 2.57 price action will stop and retrace - creating a possible neckline. Price then probably makes retrace to ma100. Price action could then be setting up a possible IHS.
BUT first things first ;)
Music at work:
open.spotify.com/track/3tTRsB5SxBva3G0d9RNYU6
youtube.com/watch?v=Rs38lKxmtI4
But as always.... time will show
Safe trading ladies and gents!
BM
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.