Hello everyone!
My hideous charts are BACK!
I am starting with Brent Crude Oil. There is a ton of resistance around 71.5 and 73 dollars. LONG TERM RESISTANCE IS THE BLUE LINE AND YELLOW X AT 80 DOLLARS. Purple line and arrow is likely path for price action. Seeing as growth and inflation seem to be slowing in 3rd quarter 2021 that makes the price path more likely.
Second less likely scenario is breakout above major resistance. Any breakout above there would have to be held on the weekly and monthly chart to remain valid. This will happen at some point in the next few year but not now.
Lastly I left Williams fractal indicator on this. I don't use it and just reading about it to look for more fractal patterns in real time. They seem to be late on the weekly and probably better on daily chart i don't know.
Never trading advice charts are for my own tracking.
My hideous charts are BACK!
I am starting with Brent Crude Oil. There is a ton of resistance around 71.5 and 73 dollars. LONG TERM RESISTANCE IS THE BLUE LINE AND YELLOW X AT 80 DOLLARS. Purple line and arrow is likely path for price action. Seeing as growth and inflation seem to be slowing in 3rd quarter 2021 that makes the price path more likely.
Second less likely scenario is breakout above major resistance. Any breakout above there would have to be held on the weekly and monthly chart to remain valid. This will happen at some point in the next few year but not now.
Lastly I left Williams fractal indicator on this. I don't use it and just reading about it to look for more fractal patterns in real time. They seem to be late on the weekly and probably better on daily chart i don't know.
Never trading advice charts are for my own tracking.
Trade active:
This consolidation looks good to me if inflation and growth are persistent. The longer we go sideways the better chance we have of punching through the wall of resistance around 71. Time will tell.
Trade active:
I mistakenly put the X two weeks too early. This looks like it still may happen. I have no trade on but this looks like it is consolidating.
Trade active:
We are nearing resistance! It took longer than I thought. Time will tell if we break through.
Trade closed: target reached:
Great job everyone
Order cancelled:
I do not view this is a short anymore from resistance