I try to look back to see a general direction - these trend lines are what's influencing my opinion . Extend both - be exact -we've stayed below the dark red line . But time will tell . Good R/R ratio sell peaks watch for grabs - Eur/Dxy in play - USD needs to put on it's pants. Good luck.
Assuming short to .5 retrace or better - call me crazy - key Resistance at present - break resistance and up we go .
Daily - watching "blue" channel top -bottom blue from M-J/15 - ADX on top set 3/34 -if downtrend continues ADX should rise - I hope - watch for grabs - Eur/Dxy broke - we'll see if Wti follows Good luck - be careful out there . Some trend lines may have been set on diff time frame .
Supply retest complete my guess fib retrace .618 - .786- API # Wed - -
Here's the DXY I expect a test of Demand below - watching MacD & Stoch for confirmation of bottom . expect stop grabs both ways - be careful out there . FYI Demo trading .
Daily showing Up trend Fib retrace - poss .5 -or less - watch out for supply above . Dxy is important IMO .
I still think we have to come down to 40 ish .5 retrace on Up-Trend but keeping an "eye on Supply " above - as always -be careful out there ! .
I hope they're done grabbing stops -raising the retail price to sell from and start the quest to a lower wholesale price to buy - Retraced to .5 + should drop or play with our minds up to .618 Fib - DXY has hit .618 on retrace and bottom of channel might create the momentum .GL
Hope I'm right - watch for stop grabs - as always - gl
watching to see if they push above .5 retrace
Demo-trading- Daily showing Downtrend Fib + ext. from May 25- June 21 - watching to see if we continue down to lower wholesale price -
If I assume a Trend change HH on 10/7 11 am est- curious if the Fib gives any info - Red SR (Demand) might help 1 hr - I apologize for all the T-lines
I expect a drop to 43.11 or less ( corrected wkly ) but they might try a stop grab to 44.86 +/- to entice buyers . We'll see
Demo - I expect a retrace but watching to see if we continue upward to next wkly 48.11 - we've retested supply they might decide to grab stops below at wkly 46.34 .