OXY is currently in a long term downward channel and testing the bottom of it. The severe decline in price over the last few years is plummeting OXY into MAJOR support. This confluences with the downward channel, and we are likely (in my opinion) to see a trend change soon to test the top of the downward channel as long as the support holds. OXY, as well as all...
When you select all area of the year 2019 and use Volume Profile ... So you can find POC ( Point of control ) of the whole year on the price level 82.49.
This is exactly at the perfect price level for short .. Because on same price level is nice to see how strong sellers push price lower and lower...
1. POC of the year
2. Initiation of strong sellers
The last week i share with you analyses on USDCAD Daily chart...
I showed to you combination of two my setups what i use... Yearly Volume profile with Daily Gartley.
POC Of the Year is so strong level, where big banks and instuticion want to trade...
Point of control ( POC ) the last year 2018 On USDCAD in Price level 1.30228 was perfect example how it works...
After 5 days of long consolidation EURUSD made a downward movement...
For that reason i use Volume Profile for finding Point of control (POC) for the market.. Where i see fair price.
POC - The price level for the time period with the highest traded volume.
And now i expect that in this level will be reaction when the market return back.
From the last week is just two significant Volume cluster in the chart.
First one around price level 1.2478 is tested ... But the second around price 1.2433 can be good enter for small corection up.
Take profit 10 pips
Stoploss 12 pips
GBPJPY has hit a support that held on the 4hour candle time frame in the colossal drop that occurred a few months back, this level should see a healthy bounce up to our target. There is GBP news at 9:30am England time therefore i might look to move SL or close the trade before the release.
On the end of the last week can see strong rejection of lower prices on NZDUSD..
So sharp and fast rejection of strong buyers moved aggresively price up to the 0.6837.
It look that good enter for continue this trend is on the biggest volume cluster around price level 0.6670
We can see strong uptrend on USDCAD i the whole year 2018... For that reason i expect continuation this uptrend in the Year 2019.
After correction to the 50 % fibonacci retracement moved up of the Year 2018, can be possible change trend up on USDCAD right now on price level 1.30262...
50 % moved up is so near to the Point of control of the year 2018.... So there...