We are nearing the end of the week and have had some nice movement heading lower.. I have marked out the Previous Day Wick ( PD Wick ) If price is to retrace today for NY this is where I would expect it to stop and head lower / consolidate at least. The Draw on Price are bellow : Daily +OB Daily EQL'S DAILY FVG
So as I stated in my last post, we would have a short range day as per previous large ranged day. We did attack the SSL as target 1 however Im looking at price heading higher to the BSL and 1hr FVG before we head down... Lets see what Asia and early London does.. Will update nearer to NY for Turbo Tuesday...
Pair : Crude Oil Description : Fibonacci Level - 38.20% Resistance Level Break of Structure and Retracement RSI - Divergence Bullish Channel as an Corrective Pattern in Short Time Frame
NYMEX:CL1! Crude oil is moving upwards by marking HH @ 95 and HL @ 81.5, 81.5 is .786 fib support from previous low), Curved parallel channel suggests that max downward should be around 79; which is .886 fib level from 77.71), 97 & 104 will be crucial level in coming weeks as resistance.
Pair : US OIL - Crude Oil Description : Completed " 12345 " Impulsive Waves and " A " Corrective Waves Demand Zone Fibonacci Level - 61.80% Consolidation Phase in Short Time Frame Break of Structure
Pair : Crude Oil Description : Completed " 12345 " Impulsive Waves and " AB " Corrective Waves Break of Structure RSI - Divergence Bearish Channel in Short Time Frame Bullish Channel in Long Time Frame
Crude oil moved as we expected. Now in the next days we can expect it to follow the red scenario and reach the $75 area. If we see prices around $75 I'll put another update. Context is BULLISH for Crude oil and DXY is showing weakness after yesterday's FOMC meeting and the market is more confident about the rate cuts in September than last week. SO BE CAREFUL with...
Well we are in a sell program and we have respected this 1hr fvg. So the remit is pretty simple for NY open.. Wait for a retracement for bearish prices. The Bias is Bearish with the Magnet's as Price tragets for the weekly objectives.
I am HTF bearish on Crude OiL I have PD arrays marked out that should be respected if market was to retrace and take some BSL. The targets for today are Lows marked out. Pretty simple. Stay bellow 1hr fvg and 1hr -OB = BEARISH Close above the 1hr FVG start looking for short term BSL
International oil prices fluctuated slightly on Thursday (May 30), with U.S. crude oil currently trading around $79.13 per barrel. Oil prices fell about 1% on Wednesday on worries that weak U.S. gasoline demand and economic data could lead the Federal Reserve to keep interest rates higher for longer. High interest rates aimed at countering high inflation could...
So my target for this week will be the weekly open. Simple as that sounds we do have some bsl above however Im expecting price to deliver BEARish as per HTF and the rejection for the Daily FVG Be aware that trading is light we are in the last couple of days of the Month.
We had a very expansive two days From the Bank Holiday Monday and Tuesday. I do expect the market to slow down a little before we start to move higher to 81.50 as long as price stays above the 1hr fvg and the 1hr +ob my bias will be Bullish. If we close bellow these pd arrays then a retracement is in order and different targets will have to be looked at. Pretty simple
I am looking at crude to make a retracement today after couple days of down movement its been nice but can;t last forever. So the arrows display where I think price will go today as a first target and second PDL Keep it real simple on Fridays you got the weekend coming and you don't want to go into it with a loss or a win stay neutral.
No we have Hit the daily FVG I am looking at the lows off 76.91 76.83 To be taken. In conjunction with my other forecasts this week of being Daily bias Bearish!!
Pair : US Oil Description : Completed " 12345 " Impulsive Waves Break of Structure Head and Shoulder Bullish Channel as an Corrective Pattern in Short Time Frame Demand Zone
So this is the forecast for Crude pre 1030est news. I'm favouring some BSL to be taken if the 1hr FVG gets disrespected. With 1hr fvg above and the BSL that is pointed out with the arrows. If we show rejection from the 1hfvg we are currently near then PDL will be the target. With news there is no certainty. Overall I am HTF bearish however a sweep on BSL could...
I Have in Mind that we will be BEARISH bias mostly this week as we have Tapped into the Premium Daily FVG yesterday and rejected lower. My two targets shown in the forecast are the arrows. Daily PDL Weekly SSL Now it is important to realise that the market is moving in London and a straight sell into 0830 or 0930est wouldn't be the best move. Waiting for a...
The first intra day bias will be 78.70 which has eql's Simple as that.