Today opening will be relevant to understand which will the market reaction. In this moment my primary idea is: market want to continue his down phase. In this case i think we could see a small bounce near to 2450-2440. If the market had to arrive on this level we probably see a bounce. In case of this idea will be confermed, I will update the analysis as...
As you can see on the image the market now is testing the 1/2 Gann Fan. If the price had to broke this level the situation will become critical. The 2540 level is important because if the price will go down the main trend for this market change from bull to bear. In this case first target can be 2350 and i think i will go short. If the market reject this idea...
USOIL looks like it wants to pull a minor trend change here. Perhaps turn into a $50-$58 trading range for a month or two. The chart is pretty self-explanatory. Looking forward to see how this plays out.
The oil market was still unable to overcome resistance and during late hours gave back more than half of OPEC cut announcement gains. Next week is likely to be very active, as there is a lot of additional interest, the moves are expected to be quite violent. There is no clear signal of a breakout either way, following the market inertia by looking for limit buy...
USOIL is being well supplied after pulling back to the grand 45 degree line coming down from the top. If 5000-5050 area fails, the bear case becomes more relevant. Assuming pre mortem conditions, the inventory report turning this around and supply being dried up by incoming new demand, it is reasonable to look for entry opportunities on the lower timeframes. It's...
This chart is an attempt to show possible support and resistance lines that have been coiling the market lately. Bears did achieve a slightly lower low but were unable to follow through, an event that shows a change in market structure . If bulls can close higher timeframes above the 15 degrees resistance line, a stop buy setup approach seems reasonable....
USOIL is likely to pullback to around 5220 where continuation sellers are expected to enter the market. As for now, buying any minor pullback to 5085 towards the 5220 area and flipping short around there seems reasonable. Shorter timeframe for trade entries and thorough risk management is of utmost importance. It is better to get out of the market with minimal...
DXY is seemingly approaching an attractive supply zone around 98.50. As mentioned in the earlier posts on DXY, we have an important gap zone around that area. Furthermore, there's the 15 degrees angle line coming down from the top at that same area, that is if the DXY trend is being measured with 20 pips per week ratio. It seems reasonable to look for shorting...
This is a monthly chart of USOIL with time cycles from important tops and bottoms. As shown in the chart, the current decline in oil started after 26 monthly bars since the bottom of $26 and around the 1/2 price area from highest selling price. Possible major pivot around the $48 area, which is the 1/3 of highest selling price of oil. If that goes, the next...
His original book said you must make 45deg line move 1 point a day. (I mean 1p=1usd) AKA 7points a week on weekly chart. But how do we adjust it to btc and other thing like futures? It must be wrong to use 1 point as 45deg on btc. IDK How we should adjust it. Maybe you guys have good ideas? Please comment if you have your thoughts. On the APPL it's two 45deg...
It seems yet another push lower towards the 5875-5950 area is likely at this point. The 45 degree line from the marked blue square is anticipated to attract demand at that point. Until then, shorting into strength seems to be the way to go. Limit sell orders around 6085, the 15 degree angle coming from the recent low, tight stops and 1R-2R targets seem reasonable for now.
USOIL went through a decent pullback earlier today and can potentially reach 6335 as a result of another bullish swing. Limit sell order around 6335 with a 35 tick stop and 1R-2R targets is the current plan.
As shown in the graph above, USOIL has been declining each time it nears the 45 degree line form the top. The next selling point is around 6440 area.
USOIL found support it seems. Buying around here with stops below 6630 and looking for 1R-3R targets seem reasonable.
USOIL just hit the 2x1 line and seemingly going for a pullback to test the 1x1. Selling short here with a 35 tick stop and looking for 1R-2R targets seem reasonable.
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Following the Rule of Angles from W.D Gann's work, a break below this structural angle would indicate a profit target of the 1.34 zone.