Price continues to maintain above 1885 critical preventing H1 20-to-50EMA crossover.
With closes established at H1 50EMA we can assume a strong hold + increased chance of recovery.
Keep in mind that extension of the long-term double-top pattern is still viable if crossover occurs.
The chart has been changed to H4 for a long-term view.
A few things to note:
- The lower descending line (dashed green) has been removed
- The prior critical pricelines (dotted red) have been altered to either 'normal' (dashed black) or critical (solid black) pricelines
- The majority of former patterns have been extended including the long-term original ascending (solid red) which acts as a current resistance marker
- The cycle deviations (dotted purple) in view have been hidden for the time being
Look to close today above 1895, or H1 50EMA/H4 20EMA, to trigger enough buy volume to break red pattern.
www.tradingview.com/chart/gDBkksfy/
With closes established at H1 50EMA we can assume a strong hold + increased chance of recovery.
Keep in mind that extension of the long-term double-top pattern is still viable if crossover occurs.
The chart has been changed to H4 for a long-term view.
A few things to note:
- The lower descending line (dashed green) has been removed
- The prior critical pricelines (dotted red) have been altered to either 'normal' (dashed black) or critical (solid black) pricelines
- The majority of former patterns have been extended including the long-term original ascending (solid red) which acts as a current resistance marker
- The cycle deviations (dotted purple) in view have been hidden for the time being
Look to close today above 1895, or H1 50EMA/H4 20EMA, to trigger enough buy volume to break red pattern.
www.tradingview.com/chart/gDBkksfy/
