Selling Pressure - ABCD - Descending Triangle
How to say, 3 things that we can watch from GU a week ahead ;
1.) There is continuantion pattern Descending Triangle.
2.) There is ABCD pattern on 382%, could it reach 2.618 BC projection
3.) Fundamental issues such as U.S. December Retail Sales. The consensus forecast is that the report will show rose 0.7 % last montn. Core sale are forecast to inch up 0.5%.
There are selling pressure. But we could see, how's Market react to The Fed and Trump on 20th January. Maybe there will be a little pullback. Watch could it break the resistance. I'll wait for the selling opportunity if the price goes up. Watch on small TF, like H1 or H4.
Note : There's always unpredictable things - be smart!
1.) There is continuantion pattern Descending Triangle.
2.) There is ABCD pattern on 382%, could it reach 2.618 BC projection
3.) Fundamental issues such as U.S. December Retail Sales. The consensus forecast is that the report will show rose 0.7 % last montn. Core sale are forecast to inch up 0.5%.
There are selling pressure. But we could see, how's Market react to The Fed and Trump on 20th January. Maybe there will be a little pullback. Watch could it break the resistance. I'll wait for the selling opportunity if the price goes up. Watch on small TF, like H1 or H4.
Note : There's always unpredictable things - be smart!