GBPUSD has hit a lovely energy point right at the cross. Also on the horizontal line very close to the last major bottom. Plan is to go long here and hold for different TP's depending on one's ability to hold medium or long term. Stop Loss should be placed below the downsloping Median Line and also a bit below the last major bottom, in case of an overshoot of the...
XAUUSD is still inside a major upswing that is currently consolidating above the Median Line of the upsloping fork + above the recent tops of a range, that was broken up a few weeks ago. The stall above the ML gives us a decent entry with a great R2R ratio, with the stop being below the ML and recent tops in case of a overshoot/backtest.
Trade is Long Gold cmp...
EURUSD broke structure (downtrend) and is consolidating on the tentative upsloper MLH (fork), forming a major bottom with a massive upside potential. The bottom is also the 0.618 fib line of the last major upswing.
Targets are the 1: 0.5 of the frame / 0.618 fib line of the last downswing and 2: ML of the fork.
Trade is Long EURUSD cmp (1.12270)
CL is currently in a strong, so far corrective, swing, that I am looking to short on pullbacks until the mentioned area.
Once that area hits, the idea is to buy and stay in until $59.00.
Short / Long scalps until the 48.00 - 48.60 zone hits.
SL - $46.50
TP - $59.00
Best of luck,
Trend swap occurred around the 6200 mark, when the impulsive move continued and formed a major upswing in which we still are.
Three options here:
1. Chase and buy at cmp (no missing out but biggest risk)
2. Wait for a corrective minor swing (small possibility to miss out but with less risk)
3. Wait for a bigger corrective swing (almost no risk but a big...
As I said, I believe consolidation above the ML of the blue frame is very important, as it shows signs of healthy continuation up. I believe the near term target is there at the crossing of orange MLH and blue 0.5. A decent drop afterwards retesting the ML, resetting indicators and preparing for a big OPEC impulse candle up.
The trade would be:
Here we have possible movement for USOIL in the next week (until the OPEC meeting).
The blue frame showed that the huge liquidation that happened a few days ago stopped right at the 2.0 WL, with a huge impulse returning back in. That gave us a major pivot (new C) for the orange frame. Price has been following both since. It has currently bounced strong off the ML...
This shows what, in my opinion, CL might do in the next couple of months. CL will reveal its hand on the day of the OPEC meeting (whatever people think, OPEC WILL create a strong reaction). After that meeting, the candle we get is going to show many things. However, I believe movement after the meeting, into summer, will be much more interesting and violent. It...
As you can see, we've been consolidating with very little movement last week. Actually, it's the weakest weekly candle since the year of 2003! Quite possibly resetting Indicators for a big move. As it appears, we might be at the cliff right now. It's edging on the 1.0 handle of that wide upsloper. If it dips below it, we might be negating that C and move towards...
Possible range movement for the next few days. Keep in mind, this is all before the main event, OPEC decision on the 30th November. Expecting a few calm(er) days, after which a lot of volatility on Tuesday / Wednesday.
Our next journey showing a lot of information, including: possible breakout points, down and up; support and resistance points; trendlines, fork range and its exits, explained important points in detail; etc.
As you can see, there are 4 important points that might be the crucial checkpoints tomorrow.
Predicting that Nr. 1 is a 99% probability (the only way we can pass that range is if it gap opens
up or down by +-40 cents). Nr. 2 has 45% probability from Nr.1, Nr 3 has 55% probability from Nr. 1.
Nr. 3 has 75% probability from Nr. 2, with 25% probability of a...