A clear H&S pattern on 240 minute chart , We have some strong point like It previously test 9 months low on daily and it
maintained descending channel lower support around 1672 level and and it might take some time near 1740 zone to break but if it able to clear above this level once and closed above this 1740 zone it surely go 1770 zone in next 2-3 weeks.
If you see 60 minute chart, You might see a clear triangle pattern and other indication also in favor for Dollar up but not clear when it will happen so be prepared for DOLLAR upside breakout but there is a minor chance for downside also.
I am more in upside rather than downside because of too many support are in placed right now.
Trade-1: Buy Above Central Pivot...
If we start drawing Elliot wave on EURUSD daily chart with minute degree where we will find out EURUSD currently trading towards 1.1850 at corrective “wave C” in next 2-3 months and it completed all motive waves where find out Wave 5 top 1.2352 (approx) Which may be the Wave 1 top on minor degree.
Since the “Wave-1” starts all the the motive wave are matched...
In technical viewpoint since Aug 2020 Gold continued traded lower low and lower highs and it does create a descending channel on daily chart.
Staring of this month Gold start traded below 200SMA on daily chart after a long period, which is very bearish signal for Gold.
If we see chart properly we may see a another descending channel within short range which may...
AS per last chart its move as per Elliot till date in minute degree wave 3 may end within 11618 zone on larger degree wave 4 correction is complete on 5-3-5 basis and now its set for wave 5 and it will be very lazy Wave towards 12300 and it probally end during jan or feb.
watch wave count
Note: No Tp and Stop for more information contact me and...
Its drawing nothing to suggest its shorter degree Elliot Wave which is on most confusing wave 4 it may reverse from 14.6% or 23.6% or max 38.2% show if you agree You can follow up this trade
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