There is a head and shoulders pattern at the top here. A Break to the lower level of the right shoulder also followed by a rounded topping and now two clear channel top and double bottoms. Based on fib from the original fib breakout in the beginning of november I see a correction to around 12000...
1. Strong support levels via big green candles near to level
2. We enter this trade slightly earlier (as we want to head to bed earlier than usual) while possibly getting the same returns over 8 hours.
Will update soon!
WTI: USOIL Beginning to break down now and vulnerable whilst unable to clamber back above 51. Trend looks to be changing here so we move back to a bear tack looking for shorting opportunites whilst below 51 - stops for shorts need to be above 51.16 for now for small loss if wrong here
Here we have a completed Gartley pattern in the positive deviation area of the last 100 and 200 moves.
According to my strategy , this market is likely to reverse down into the negative regression. As of right now, the market is retesting the high at point D and we should see a trade completion in the next couple of hours.
Anyone that has been following my trades...
Background:
Price found enough demand to halt its current downmove @1.46300 where the current minor rally
broke the (red) supplyline indicating that demand outweight supply at this moment , the rally stopped near
the current high @1.5552 which can bee seen as current resistance which needs to be overcome in order to speak
for returning strenght to the market ,...
