Last week's candle was a busy one!
Price opened and retraced the previous candle by around 50% before slamming down again to cover the monthly open gap.
The bulls showed strength around .8950 support level.
Some things to note about the above chart:
-The strong weekly channel up. (bullish)
-The two pin bars on the daily charts which suggest to me that if an uptrend takes hold prices of .9200 should be easily achievable. (bullish)
-The decending slope of the recent peaks on the weekly. (bearish)
-Previous weekly candle bearish.
Thanks for visiting!
This is not a recommendation to trade.
No comments:
Post a Comment
Thank You for your comment!!!
I may or may not respond! LOL!!!
Dan