SHIBUSD Long
Target .000004000
Reason: Break of structure higher, trades back down into premium weekly FVG and lower time frame orderblock. Could trade lower so have risk in mind.
Dollar is devalued and a safe haven asset heading for high. But needs something to push it higher. This would be the crisis caused by monetary policy. Dollar will show strong rejection into lows to trade into equilibrium.
Price of JPY is severely undervalued and at a discount area. We saw an attempt to fly but it was rejected. To make the final push it must mitigate structure to pick up on buy orders and fly to the moon. To support our confluences we also see a head and shoulders pattern and a trend line driving the price to its mitigation and completion of structure.
XAU Melt after open allowed for mitigation of buyers and redistribution of price so we can expect a long and a higher all time high after liquidity grab but for now long to join trend.
What we have here is a potential for a large reversal or continuation towards the upside depending on the market behavior upon open.
The prospect of a continuation of the current trend and a mitigation of buyers could allow for a gradual ascent towards a break of all-time highs. However, if the market opens with a continuation of the current trend, the limited...
