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@Big JohnnyJust updating the chart for you, the FVG is set at...

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    @Big Johnny
    Just updating the chart for you, the FVG is set at 4.08 - 4.18. Wether it fills remains to be seen.
    The chart is looking good & may provide a good entry point to top up if it does.

    Looking at the candle it looks a bit bearish short term.
    There are a few other s/t negative aspects on the indicators I prefer.
    The MACD did not make a higher peak.
    The histogram did not follow up with a higher peak, also a negative look.
    So I woud think that this particular gap has a high probability of closing which should satisfy the theory & test support around 4.08 which is also a normal 50% retrace.

    The weekly is a nice looking chart but also shows resistance at last weeks highs. That might be tested again this week & I would expect to see a retest of the rising trend at least once more before it really breaks out.
    There is a rising triangle that gives an upside target to around 6.45 - 6.50.
    I dont know if the candle is good or bad, it does show rejection at the low area but the daily indications may win out in the s/t
    https://hotcopper.com.au/data/attachments/6005/6005101-793dca8fdb69a576cfbaac66cb8d90e4.jpg
    https://hotcopper.com.au/data/attachments/6005/6005104-f28c0bc50974ca21ac412758795ddaf0.jpg



    Last edited by seagull: 03/03/24
 
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