Since August 20th the price has been moving within the bullish trend channel and from the constellation of the candles I can see that we will see another high in October.
But I expect that after a new October high, there will be falling prices, at least with the target @ 70.70.
At the moment it remains to be seen whether the October low or the October high will be made first.
But you can orientate yourself as follows:
1. If the price falls outside the trend channel, it then goes, as the red arrow indicates, first falling to 70.70, then rising.
2. If the price remains stable, if the blue path remains stable at the high of September 15 (72.85), then the October high will probably be formed first and then fall sharply.
Good luck and a like would be nice of you!
But I expect that after a new October high, there will be falling prices, at least with the target @ 70.70.
At the moment it remains to be seen whether the October low or the October high will be made first.
But you can orientate yourself as follows:
1. If the price falls outside the trend channel, it then goes, as the red arrow indicates, first falling to 70.70, then rising.
2. If the price remains stable, if the blue path remains stable at the high of September 15 (72.85), then the October high will probably be formed first and then fall sharply.
Good luck and a like would be nice of you!
Comment:
Monthly CYPHER
Comment:
Weekly BUTTERFLY
Comment:
This week and next, I'll be watching 80.65 and 81.93
Comment:
Comment:
As info: The pivot on an annual basis was today's high. That was achieved perfectly.
From a purely chart-technical point of view, it shouldn't run any higher in October, but on a weekly basis I'm still a little bit more missing.
For the last quarter I have determined the price mark at 75.33, as a decisive orientation, ie everything above it remains long, below that the trend change begins.
Put a thick line at this mark on your chart.
You'll see why by the end of 2021.
From a purely chart-technical point of view, it shouldn't run any higher in October, but on a weekly basis I'm still a little bit more missing.
For the last quarter I have determined the price mark at 75.33, as a decisive orientation, ie everything above it remains long, below that the trend change begins.
Put a thick line at this mark on your chart.
You'll see why by the end of 2021.
Comment:
Intraday:
Keep an eye on these 3 levels
M30 >>> 79.4
D >>> 78.53 = closing price above, results today in a green daily candle and vv.
M30 >>> 78.86 = break down could be the start for falling prices ... Confirmation would be if H4 leaves the red line at 78.53 down and stays below it until the closing price.
--- Yellow circles are intraday targets.
But these also apply to Monday!
If the price stays above 79.4, I would be very surprised.
Keep an eye on these 3 levels
M30 >>> 79.4
D >>> 78.53 = closing price above, results today in a green daily candle and vv.
M30 >>> 78.86 = break down could be the start for falling prices ... Confirmation would be if H4 leaves the red line at 78.53 down and stays below it until the closing price.
--- Yellow circles are intraday targets.
But these also apply to Monday!
If the price stays above 79.4, I would be very surprised.
Comment:
First chart:
Wave 1 lasted 5 months and if October stays above 81.13 then I assume that wave 5 will also take 5 months, which means that the trend will remain bullish in November and December.
Second chart:
However, the above assumption does not rule out the possibility that the trend can continue to rise until mid-2022.
Alternatively:
If the price does not rise above 83.30 in November at the latest, then the chart from October 6th could be considered.
With this update I am signing out.
I'm taking a few months off ... there are no posts.
I wish everyone every success and stay healthy (without lethal injections).
BB
Wave 1 lasted 5 months and if October stays above 81.13 then I assume that wave 5 will also take 5 months, which means that the trend will remain bullish in November and December.
Second chart:
However, the above assumption does not rule out the possibility that the trend can continue to rise until mid-2022.
Alternatively:
If the price does not rise above 83.30 in November at the latest, then the chart from October 6th could be considered.
With this update I am signing out.
I'm taking a few months off ... there are no posts.
I wish everyone every success and stay healthy (without lethal injections).
BB