weak divergence on 1H XBT USD,
Possible decline to 6625 USD area before bounce up from bleu lower trendline part of the strong ascending trade channel in place since early September.
In case of a breach of lower trendline we could see lows of max 6300 USD. A breach of 6300 could increase downward momentum.
This can be our final retracement before we break 7900 area and head towards 10 000 USD during december or early January 2018.
there is a chance we will not trade lower from here showing only a short lived consolidation until MACD is ready to climb up again.
Recommanded action,
buy a small lot if you re not yet in
Wait for decline to lower trendline or more conservative to lower 6300 area
Trading at your own risk, make sure you understand the risks involved with trading high volatility markets.
Possible decline to 6625 USD area before bounce up from bleu lower trendline part of the strong ascending trade channel in place since early September.
In case of a breach of lower trendline we could see lows of max 6300 USD. A breach of 6300 could increase downward momentum.
This can be our final retracement before we break 7900 area and head towards 10 000 USD during december or early January 2018.
there is a chance we will not trade lower from here showing only a short lived consolidation until MACD is ready to climb up again.
Recommanded action,
buy a small lot if you re not yet in
Wait for decline to lower trendline or more conservative to lower 6300 area
Trading at your own risk, make sure you understand the risks involved with trading high volatility markets.