8400-8520 is looking likely to be the floor after the slow grind down, now expecting an increase in price over the weekend and into Monday targeting 9000-9200 area before turning around again to test 8000
Could top out $9600 but that move would be from fomo and exhaustive. Price moves would spike up and back down rapidly if it got that high imo.
Ive now entered trade after what seems to be double bottom W on the hourly chart Friday. So my trade is Long Entry 8475, SL 8375, TP 9000 but look to take some profits 8800 and increase SL accordingly.
Ive identified a falling wedge pattern on the 15 minute chart which is bullish and gives me a tighter Stop Loss, SL is now 8440 (-35 max loss). As I write this its just breaking through the top so all good.
@Its_Me_Fx, I’m hoping for a close of 8550 on the hourly at the moment, then I’ll be more confident we have our short term bottom. Until then the bears are beating the bulls back down with a stick every time.