16/10/19
Morning Traders
As things stand, the range trading we had been in leading up to Yesterdays NY open session has been broken Our Identified target at 1497 was reached but price failed to break and close above that level on an hourly closing basis. The m15 Head and Shoulders pattern that ensued, had a price target at the 1488 handle which was reached and bearish momentum pushed prices even lower, giving prices a daily close below the 1485 handle, This daily close below becomes significant in that ur key time frames and zones are all in bearish mode and the daily close created a bearish engulfing.
In light of these, we are below the weekly open, the weekly pivots and the H1 & H4 Zones are both bearish and calling for further bearish momentum.
Outlook for the day will be to sell rallies and also look for this validation in the London and NY open.
H1: 1483.63 - 1486.08
H4: 1487.51 - 1491.56
Intra day Levels
Upside
1503.47
1498.50
1494.29
1490.34
1488.25
1485.66
Downside
1477.31
1472.85
1464.21
1462.07
1451.27
Green Pips
Morning Traders
As things stand, the range trading we had been in leading up to Yesterdays NY open session has been broken Our Identified target at 1497 was reached but price failed to break and close above that level on an hourly closing basis. The m15 Head and Shoulders pattern that ensued, had a price target at the 1488 handle which was reached and bearish momentum pushed prices even lower, giving prices a daily close below the 1485 handle, This daily close below becomes significant in that ur key time frames and zones are all in bearish mode and the daily close created a bearish engulfing.
In light of these, we are below the weekly open, the weekly pivots and the H1 & H4 Zones are both bearish and calling for further bearish momentum.
Outlook for the day will be to sell rallies and also look for this validation in the London and NY open.
H1: 1483.63 - 1486.08
H4: 1487.51 - 1491.56
Intra day Levels
Upside
1503.47
1498.50
1494.29
1490.34
1488.25
1485.66
Downside
1477.31
1472.85
1464.21
1462.07
1451.27
Green Pips
4&1 All Time Profit:
$37,496
1