Hey!
Yesterday we got a little bounce from almost to the mentioned level $3,500 ($3,486) but nothing more than that.
After the second touch above the $3,480 the price came down and it found a support from the blue which is pulled from 2. December and the second touch is on the image (wick to wick).
The price got a rejection and this rejection ended up with a “Hammer” pattern.
Around the were also the level 62% which acts as a support.
Currently, there is nothing much to say besides the which is forming since 7. December bottom. is a pattern where the price takes a direction after the breakout either direction. So currently, we have to wait for a breakout from the triangle to make any bigger decisions.
Yes, we have higher lows on the chart since 7. December but that’s not a big indication because we have also lower highs. Soon we will be on the triangle tip and from there we could see a move, an important move. The price range and the has been pretty low, so, we could assume that if the price approach into the triangle tip where the price is smashed together and it is ready to make a move. This move will be a pretty big move and it shows – can it make some higher highs after the breakout upwards or do we see this year lowest price levels after the break downwards.
Do not enter into the market before You haven’t seen a breakout from the triangle! 1H candle close outside the triangle is the first confirmation and 4H close is the final confirmation!
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Thank You for your support, I really appreciate it!
Have a nice day!
All the best!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Published at Thu, 13 Dec 2018 14:57:33 +0000
