OXT USD at Risk of Falling to Around $0.44 in the Near Term

The use of the Phoenix Ascending indicators and the Bad Ass Bollinger Bands in the near term group of time frames (1D, 2D, 3D, 4D), which act as a compass, in conjunction with the short term group of time frames (90 min, 3H, 6H, 12H), which allow for more precise entry and exit, to provide a technical analysis for OXT USD. It appears likely that we will see some upward price action for OXT USD in the short term group of time frames (90 min, 3H, 6H, 12H) yet OXT USD is at risk of falling in proximity to the Bollinger Band basis in the near term group of time frames (1D, 2D, 3D, 4D). Please note that the Phoenix Ascending indicators and Bad Ass Bollinger Bands have been made publicly available by David Ward (@WykoffMode). I highly recommend watching David Ward's video publication to educate yourself on how to properly interpret these indicators (www.tradingview.com/u/WyckoffMode/).

Note: This is not financial advice. I am not your financial advisor. These are my opinions.

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Near term price target.

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The WE in the 90 min closed below level 50 (left panel). The RSI in the 3H did not close above level 50 (right panel). Thus, the WE won the race and downward pressure is sustained. In addition, in both the 90 min and 3H time frames the green line turned downward and descended. The green line was contacted by the red RSI while it was descending in both the 90 min and 3H time frames, indicating downward pressure. This situation exemplifies why it is so critical that we wait for the candle to CLOSE prior to making a conclusion about who won a pressure race. This situation also shows why the use of stop losses are very useful when trading in situation in which the pressure in the lower group of time frames is the opposite of that in the higher group of time frames. Please note that since the red RSI did not cross and close above 50 in the 3H there is no upward pressure race between the red RSI in the 6H and the WE in the 3H.

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