Im back on the oil bull train. the more oil consolidate at the yearly top the bigger the chance it will brake.
Maby somthing like this?
Lets see now that Opec is cutting and Oil stocks are getting some momentum :=)
Im still long biased until 49 is broken, dont think this will happen but, you never know :)
My targets are still in the 60 area.
Gl ppl and be carefull with shorting oil i only see small to medium pullbacks.
After the NFP USD rallyed but didn't take out the lower high im expecting consolidation back to arcs the next week before retesting the Major High Creating a nice dobbel topp. Im Long USD until the purple arcs are beatn.
On the other hand If this Lower high Holds my previous post is still intact.
GL Trade safe :)
USD is Forming a ABCD Pattern and finding resistance at Arc il be watching the purple area For More comfirmation.
If it bounces and brakes the HL Dollar still King, right now there is a good properbility USD is Dropping.
history repeats itself :) GL Trade safe
Thinking we will se some Trend continuation. There are som good clues, 3 taps at trendline failed to close above, failed to beat the 61.8 Fib box, a Strange bat pattern and the lows needs to be tested. Im short from the C point and will keep and eye at the 88.6 box there is a ABC pattern completing in that area if it closes und 88.6 then 127.2 is open for play and...
Dollar is in a STRONG Trend this type of trends ranges from 7-9 waves before we se big retrace
It has been following a nice pattern 125 - 130 Tiks waves with a 30 - 40 tik retrace.
If wave 8 fails to hold we have an retracement incoming. If not get in on wave 9 ;)
My Fist post here on TV
Im Not a pattern trader but today im thinking this is a good probability with the News
This is a extremly volatile pattern as price can jump in and reverse fast in PRZ Zone
Stops under 2.0 Fib from X-A = 1.2294
caution is advised!