With that being said, this is still a decent trading opportunity based off of the level of potential that we are heading to, the pattern completion and the . Recently the has just gone oversold, allowing us to add yet another point to our combined technical score ( CTS ).
in the event that we do get a price action reversal pattern at that level, the first area I would have on my radar for a retracement would be right below the 1320's price point.
"BEWARE - This is a FED WEEK"
If you would permit I would like to formally dub thee "Ze Chef", cause I'm loving me some of that market analysis broth you're serving up!
Had my eye on this one as well. So glad to get some pro confluence (I love that word) with my analysis (Pro confluence should be a CTS score if it isn't already!).
All that's left is to see IF the market will give us the anticipated move.