Candlestick highlighted
Is an indication of a fakey and not given rejection for the body is bigger than wick made.
In theory is should be filled if its a sign of continuation or last lag up to complete fifth wave. Plus small wick at the bottoms a bit long for a nice hammer formation
A whole lot of mood swings were brought to the pair to cute short any late optimistic traders of the trend really broke it hints recovery or a start of a new trend
° point have to be taken if the newly formed high isnt broken the pair will be under pressure. For it turned the 1'40 to resistance once again after attempting so hard to move away from it
(This round number 1'40_44 is under bearish protection )
# for it to continue it has to break that postion with weekly and mn close above.
For bears to continue the break of the 38 is need if that happens we'd maybe see the
1.3669_1'35& maybe 1.34489 if its that weak against the usd
Usd has eased selling pressure MN timeframe
So if this is the case it has to slack a bit for others against it to have a little breather before it decides to take ol holders out but again if it continues to climb this whole year gold shall have a tendency to look to bounce back in the new year or late this year 🤔
Times needed in your skill toolbox FOR big moves are making them ready in pairs that didn't move as usual as others got boosted(mostly majors with a few cross pairs)
Sl is a big 40$ (400pip )
If the high isn't passed id consider it a correctional move and more to the downside then anything back to ol levels maybe even where it rejected 2020
Is an indication of a fakey and not given rejection for the body is bigger than wick made.
In theory is should be filled if its a sign of continuation or last lag up to complete fifth wave. Plus small wick at the bottoms a bit long for a nice hammer formation
A whole lot of mood swings were brought to the pair to cute short any late optimistic traders of the trend really broke it hints recovery or a start of a new trend
° point have to be taken if the newly formed high isnt broken the pair will be under pressure. For it turned the 1'40 to resistance once again after attempting so hard to move away from it
(This round number 1'40_44 is under bearish protection )
# for it to continue it has to break that postion with weekly and mn close above.
For bears to continue the break of the 38 is need if that happens we'd maybe see the
1.3669_1'35& maybe 1.34489 if its that weak against the usd
Usd has eased selling pressure MN timeframe
So if this is the case it has to slack a bit for others against it to have a little breather before it decides to take ol holders out but again if it continues to climb this whole year gold shall have a tendency to look to bounce back in the new year or late this year 🤔
Times needed in your skill toolbox FOR big moves are making them ready in pairs that didn't move as usual as others got boosted(mostly majors with a few cross pairs)
Sl is a big 40$ (400pip )
If the high isn't passed id consider it a correctional move and more to the downside then anything back to ol levels maybe even where it rejected 2020
