As we can see here market reseted after level three on the hourly time frame .
Still has failed the hesitation zone of lower quater 1.6250 and the spike is most likely a result of price being close to the whole number 1.6000 as the market tends to spike big around these numbers to induce impatient traders to jump in before the short.
As we can see here and a big one giving the size of the impulse and correlated with the dxy showing similar signs of market strength and gold ready to pop .
IF you take a look on the daily time frame we see zone 3 has not been formed yet .
Market disclaimer: trade at own risk and use responsibility on the charts as this is not a trade signal but only my educational perception on the market.
trade safely my friends.
Still has failed the hesitation zone of lower quater 1.6250 and the spike is most likely a result of price being close to the whole number 1.6000 as the market tends to spike big around these numbers to induce impatient traders to jump in before the short.
As we can see here and a big one giving the size of the impulse and correlated with the dxy showing similar signs of market strength and gold ready to pop .
IF you take a look on the daily time frame we see zone 3 has not been formed yet .
Market disclaimer: trade at own risk and use responsibility on the charts as this is not a trade signal but only my educational perception on the market.
trade safely my friends.
Comment:
as we can see market broke the hesitation zone and pushed higher to 1.6400
this is why you must wait til hesitation zones are broken before entering big swing trades
this is why you must wait til hesitation zones are broken before entering big swing trades
Comment:
Price broke mid-level price 1.6500
Next price to watch is 1.6000
A hundred point mark if passed will ensure a push to the higher quarter levels. Update next week
Next price to watch is 1.6000
A hundred point mark if passed will ensure a push to the higher quarter levels. Update next week
not 1.6000