On the Monthly chart, we are making clear LLs and LHs.
We have some pips left before i do encounter my Monthly Buy zone.
Also we have not a Fib completion yet.
All these are clear indications for a Short set-up.
We have some pips left before i do encounter my Monthly Buy zone.
Also we have not a Fib completion yet.
All these are clear indications for a Short set-up.
Comment:
On the Daily chart, we have received a clear Bearish impulse as indication.
We will potentially form a Head & Shoulders pattern and retest the previous structure as confirmation on the Daily chart.
Clear Supply & Demand zone at the region of interest (61.80 Fib).
We will potentially form a Head & Shoulders pattern and retest the previous structure as confirmation on the Daily chart.
Clear Supply & Demand zone at the region of interest (61.80 Fib).
Comment:
On the 4H chart, we do expect price to form the Daily Head & Shoulders pattern.
We want the price to approach our zone of interest correctively. If price approaches impulsively we want clear deceleration before considering a Short set-up.
We want the price to approach our zone of interest correctively. If price approaches impulsively we want clear deceleration before considering a Short set-up.
Comment:
Remain neutral and anticipate on the situation.
We have formed a 'Bearish W' pattern protected by a Descending trend line and rejecting the 61.80 Weekly Fib.
Weekly -27 Fib aligns with our Monthly Buy zone.