Jul12 Week 1 Analysis summary

We see a perfect Fib 38.2% retracement at 60min chart.

With that, the price bound up immediately, and now we are long bias. Daily chart is bullish too.

Thus we have 2 long plans, and 1 short plan on Mon.

60min chart

60min EU chart
Last week we were in Box 1 & 2, and now price broke below Box 2 to Box 3. We are at a new area now. Will need to look for new S/R.

This week 60min chart only give 1 sell signal. And this signal can be utilized throughout the week, and supported by a descending triangle.


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