On weekly we have a beautiful M formation completion with confluence of Weekly support + 0.786 fibonacci retracement. Target: Neckline of M formation at 98.30, However do take note that today there is FOMC meeting and things could get crazy.
Good luck (Y)
On the Daily timeframe we can see on the left side pointed with the arrow that we approached the level with the only Red candle. This can serve as a major demand zone and we could see a bounce in the DXY to the ~99 level.
Hello Ladies and Gents,
We have the 4H WTI Oil pulled up and we see that after the W at cca 10$ Oil made a beautiful run to the upside as expected, but now the market is trying to make a beautiful M formation with good Risk to Reward to enter Short.
I will be personally looking at the 27$ - 25$ Range to exit.
Good Luck and Take Care
Hello everyone, this week our scaling in trades did not work out. However no need to get discouraged because there is still plenty of money to be made.
From a Weekly perspective the market created a nice M formation and is near the Weekly resistance level from Jan 2017
Also we have beautiful confluence of the fibonacci 0.50 and 0.618 levels.
Our target is the...