If the daily support falls, there's a big drop incoming. Either way, I'm looking sells.
Inverse head and shoulders forming here lining up perfectly with the short term 61.8% fib. Also, we're in an ascending channel on the HTF and have already retraced and respected the 61.8% fib from the April lows to July highs. Potential for a lovely 1;20.
First and foremost, the potential head and shoulder on the weekly is still valid. The neckline held last week, even with the huge wick. So, if this channel breaks, expect 1.40 to form that right shoulder. However, if we break below the weekly support, I'm all in sells.
Cup and handle has played out following the 500 point rally from the bottom of the handle. Now to see if the bullish channel holds. Note, oil recovered strongly last week after a huge drop Monday.
Said it would reach 15k. Now, I'm not bothered until we retrace. never buy high. never sell against the trend.
Been saying for weeks EA back to 1.60. Now to follow the trend.
Bull flag, Double bottom, everything bullish. But has the clear the neckline!
Needs to break the descending TL but fundamentals heavily bullish and once again bounced off the 61.8% fib long term swing
All explained in my free group but here's the basic idea.
Technicals; bearish channel bearish fib 4hr resistance Everything is bearish here... apart from the highlighted peak in orange. Even though we formed another lower low, we've just breached the previous high with current price. All eyes on if the 61.8% breaks or holds.
Technicals: Weekly inverse head and shoulders bullish fib daily support ascending TL awing 3rd touch Would expect a bounce here as well with so many bullish technicals.
Technicals: 4hr Support Daily resistance Daily support 4hr 200ema long term descending TL short term bullish fib cup and handle technical formation Would expect a bounce here at current price to at least the previous highs at 1.24500 Too many confluences to ignore: handle of the cup has formed, 61.8% fib, 4hr support, 200ema
Would love a return to the 14080 area in line with the bottom of the channel, 61.8% fib and support. But can see it bouncing from the 38.2% at 14.2k. Won't be entering as that's not my ideal entry.