Morning folks,
So, our intraday butterfly is done. Market now officially hits weekly strong resistance area around 36K and completed weekly XOP target.
Next nearest level is 38.08K, which is Yearly Pivot Resistance 1. Since current place is not good for taking new longs, we suggest to see some response of strong area. Once of the possible ways is appearing of H&S pattern. This is just as an example.
Whether to consider scalp shorts here is up to you, personally I do not intend to do this and mostly watch for the deep to consider long position:
So, our intraday butterfly is done. Market now officially hits weekly strong resistance area around 36K and completed weekly XOP target.
Next nearest level is 38.08K, which is Yearly Pivot Resistance 1. Since current place is not good for taking new longs, we suggest to see some response of strong area. Once of the possible ways is appearing of H&S pattern. This is just as an example.
Whether to consider scalp shorts here is up to you, personally I do not intend to do this and mostly watch for the deep to consider long position:
ForexPeaceArmy BTC analytics :
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/