Today we have reached the 61.8 fibo of the downswing 51,6-39,3 (yellow fibos). The open position is comfortable in the win (+7.25$).
At this fibo level a corrective downmove is possible (BBs are stressed out) - perhaps down to the "traders dream" - the 38,2 fibo from the movement ( 39,3-47,04) at 44,82$ - the former breakout level!
At latest here the present midterm uptrend in this tf should be resumed.
My Main view is still active!
Most of my updates are only up to date for my followers - i mostly update my ideas in the comments, not through another publication - so please follow me if you like to get updated every time! Comments are welcome and very helpful for me - Agree or Disagree.
Main view:
CAN THIS BE TRUE? DEZ 2016: 75$ ???
What do my tired eyes see?? Isn`t it a big bottom pattern in form of an exemplary H&S?
The RSI signs, that there is still a bit air on the downside. A dip back to the 38,2 fibo @ 41,92$ would be great. A dip to the 0,5 fibo normal and a dip to the 61,8 maximal.
If this level would be bought, a H&S is being formed. Prices above the neckline could interpreted as a BIG LONG SIGNAL.
I have illustrated the possible TPs in my chart
At this fibo level a corrective downmove is possible (BBs are stressed out) - perhaps down to the "traders dream" - the 38,2 fibo from the movement ( 39,3-47,04) at 44,82$ - the former breakout level!
At latest here the present midterm uptrend in this tf should be resumed.
My Main view is still active!
Most of my updates are only up to date for my followers - i mostly update my ideas in the comments, not through another publication - so please follow me if you like to get updated every time! Comments are welcome and very helpful for me - Agree or Disagree.
Main view:
CAN THIS BE TRUE? DEZ 2016: 75$ ???
What do my tired eyes see?? Isn`t it a big bottom pattern in form of an exemplary H&S?
The RSI signs, that there is still a bit air on the downside. A dip back to the 38,2 fibo @ 41,92$ would be great. A dip to the 0,5 fibo normal and a dip to the 61,8 maximal.
If this level would be bought, a H&S is being formed. Prices above the neckline could interpreted as a BIG LONG SIGNAL.
I have illustrated the possible TPs in my chart
Comment:
Reached Action Point in this TF - Will oil break the corrective downtrend ? The RSI signs a weak buying Signal. As long as the downtrend is dominant, the correction will go on - 46$ - the 38,2 fibo is a possible tp
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Adjusted daily view (fibos)
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