Price @ 1654 is the area of Confluence may be the reversal point.. let the day will answer.. if it reverse at the point of 1654.. sure it will go up at the end day of the week..
if this pennant breaks in gold , it will be a great reward
The 4 hour right side is up against 8/16/2018 low (1159). 1 hour is turning down against 1739 high. Near-term, while bounces fail below 1739 high expect Gold to extend lower to correct the cycle from 8/16/2018 low in 3, 7 or 11 swings before upside resume. SHORT TERM SELL
The 4 hour right side is down against 12/13/2019 peak (1.3522). 1 hour is turning down against 1.2645 high. Near-term, while bounces fail below 1.2645 high and more importantly below 1.3522 high expect pair to extend lower.DO NOT TRADE ON BUYING SIDE
The British pound vs Dollar , has seen the worst dip in the march during virus outbreak .. and this pair slowly consolidating during the month of April slightly up. at the start of May, some positive news may push this pair to higher price. PM quoted that the country past the peak and extending the lockdown period will help the economy to play safe.. Initial part...
for couple of days , btcusd is going in a straight upward direction , now it is forming a pennant type of pattern, if it break upside , it will be a great buy opportunity for me , if it break down , it will be invalid for me
The weekly is turning up against the 9/8/2017 lows at 1.2061. The daily & 4 hour right side is up with a bullish sequence against the 12/31/19 lows at 1.2944. While above 1.3852 where the hourly is turning up the pair can bounce to correct the cycle lower from the 3/19/20 highs before a turn lower to correct the cycle up from the 12/31/19 lows.
Pound against Dollar analysis has a strong resistance 1.24, and it will looks to land in the support of 1.21 area , bears will mostly dominate this week possibly, this pair tries to form a Head and shoulder pattern this week..
This long term angled price zone act as support or resistance since Decmber 2020 and this time it may act as resistance expected to push the price higher to a price of 1825, at any cost if it breaks the resistance area price may see 1660.
The weekly right side is up against 3588, the daily & 4 hour are turning down against the 2/17/20 highs. While above 9338 the index can see the 11234-11680 area. While below the 2/17/20 highs the index can see another swing lower to correct the cycle from the 2009 lows.
Please Note : These are buy/sell level . these levels has to breakout in minimum 15 min candle .. Reaching this level is not valied & Fake break out can be identified by RSI and other indicators