I am silent follower of your post, You are sharing great chart, Please keep sharing on regular bases, if possible please post 15 minutes chart as well, Please aslo share Nasdaq chart on regular bases, I just made a request through PM, please consider my request if possible, Bulk of thanks
Watch market as a layman, Do have a opposit trade what ur mind suggest ;-)
Based on my personal angled lines I highlighted the range that I foresee for Monday (Please note that this is all based on anticipating that there will be no significant gap after market opens. If I am wrong, these levels will be still valid but the area I highlighted then might differ. I will quickly alter and update chart if that happens!)
So, if bulls can break above 1.1137 we might easily continue higher until 1.1233 area..
If bulls can't keep it above 1.1137 then a correction to Friday candle's mid range: 1.1025/50 is likely.. If that and GREEN line can't hold bear pressure we could easily drop down to 1.0981 area..
I personally expect some choppy priceaction inside my highlighted zone between 1.1050 and 1.1233 (roughly) at the beginning of this week..
This is a common pattern that the MM love to produce. From this area, most long term level traders would be expecting almost a full retrace back to level 1. However, this will most certainly not get there as the recent stop hunt elucidates their true intentions. From here they will look to move price up to the 1.12642 area. I assume price won't reach this locus until some point after Tuesday because this slight move up will become the pin (trap) for the new monthly bar. The logic behind this slight ascension above recent resistance/fibs will be to stop out any weak shorts who are in correct position, while providing MM with new longs who will be trapped on the wrong side of the imminent descension. After they collected orders and displaced traders, price will drop like a rock down to the 1.0350 area. When price reaches the 1.0350 area it will drop even further. I will post a prediction for price flow when it reaches that level.