Bullish bias to the upside based on Fibs.
1st Impulse Fib retracement from Impulse low to high gave a breakout from 0.382. With a Fib extension 1:1 upside target of 24.1K.
2nd and current impulse Fib retracement from Impulse low to high giving a current possible breakout from 0.382. With a Fib extension 1:1 upside target of 28K.
Also worth noting is swing low fib from 1st breakout to last pivot high gives us a bullish fib of 0.618, current price.
Speculative and should be used with unbiased trade with risk management as always. Loosing 0.382 at 21.6K may be a signal for more downside to come.
1st Impulse Fib retracement from Impulse low to high gave a breakout from 0.382. With a Fib extension 1:1 upside target of 24.1K.
2nd and current impulse Fib retracement from Impulse low to high giving a current possible breakout from 0.382. With a Fib extension 1:1 upside target of 28K.
Also worth noting is swing low fib from 1st breakout to last pivot high gives us a bullish fib of 0.618, current price.
Speculative and should be used with unbiased trade with risk management as always. Loosing 0.382 at 21.6K may be a signal for more downside to come.
Comment:
That has pretty much concluded the move with strong resistance against the daily open and value area low (21,677.50). Perfect hit and bounce on nPoc at 21,450 seen a nice bounce, but I dont think the level will hold. Looking at lower to nPoc at 20,750 and 21,100. So probable further move to the downside.
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Levels for Saturday morning UTC+1. Huge that the price has held 0.382 (21,600) after getting a bounce of the nPoc Friday evening.
Support levels to be aware of are the daily Open at 21,600 just below the 0.382 fib. Levels of support below that, however not ideal but still strong levels of support, a Daily (21,560) and just below that a Weekly at 21,515). If playing it safe, the Fib 0.618 (21,880) and Weekly may be a good level of support with a probable continuation to the upside, and risk management should the level not hold. Keep an eye out on the VWAP for support as well.
Resistance levels, the 1st obvious is the previous day close (pdClose) and Weekly (21, 830) just above the pdClose. Although the previous day Point of Control (pdPoc) (21,846.50) can be seen as a resistance, it could be a good booster to the upside to retest resistance of the previous days Value Area High (21,916) or even the Value Area Low (22,021), should we have momentum to the upside, there should be no reason not to trail a daily just above this at 22,135 as a resistance and flipping Weekly at 21,830 into a decent support.
Overall, up until holding the 0.382 at 21,600 I have bullish bias. As long the price holds key levels of support, primarily the 0.382 my sentiment will remain so. 90 minute using Williams Alligator and EMA 10 there, although not a very strong signal but some form of a pullup after the eves uphold of key levels. OBV looking week, but as a lagging indicator, that could change. Would be reassuring to have a close candle above 21,800 as there seems far too much resistance on larger time frames with long wicks on negative closing candles.
At the time of writing the price is currently at 21,670. Level below that is a daily at 21,624, as well as a Daily it is also todays current daily value low (dVal).
Support levels to be aware of are the daily Open at 21,600 just below the 0.382 fib. Levels of support below that, however not ideal but still strong levels of support, a Daily (21,560) and just below that a Weekly at 21,515). If playing it safe, the Fib 0.618 (21,880) and Weekly may be a good level of support with a probable continuation to the upside, and risk management should the level not hold. Keep an eye out on the VWAP for support as well.
Resistance levels, the 1st obvious is the previous day close (pdClose) and Weekly (21, 830) just above the pdClose. Although the previous day Point of Control (pdPoc) (21,846.50) can be seen as a resistance, it could be a good booster to the upside to retest resistance of the previous days Value Area High (21,916) or even the Value Area Low (22,021), should we have momentum to the upside, there should be no reason not to trail a daily just above this at 22,135 as a resistance and flipping Weekly at 21,830 into a decent support.
Overall, up until holding the 0.382 at 21,600 I have bullish bias. As long the price holds key levels of support, primarily the 0.382 my sentiment will remain so. 90 minute using Williams Alligator and EMA 10 there, although not a very strong signal but some form of a pullup after the eves uphold of key levels. OBV looking week, but as a lagging indicator, that could change. Would be reassuring to have a close candle above 21,800 as there seems far too much resistance on larger time frames with long wicks on negative closing candles.
At the time of writing the price is currently at 21,670. Level below that is a daily at 21,624, as well as a Daily it is also todays current daily value low (dVal).
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Regarding Pattern Trading. There is an indication of a possible Inverse Head and Shoulders currently in play, with recent low at 21,450 being the possible Head of the pattern. Although the left shoulder low, may have been overextended to the bottom at 21,600, I am taking the Left Shoulder Low from approximately 21,700. The Head at 21,450, to the high of Previous Daily Value High (pdVah) at 21,900, for a pull back to the Righ Shoulder low at approximately the same level as support as Left Shoulder Low. Best seen on a 15 minute time frame.
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Correction to statement that OBV is a lagging indicator. It is a volume leading indicator.
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Micro management update. nPoc support at 21,675 and nPoc resistance at 21,725. Also, we may be an indication of a Bullish Gartley Harmonic formation. Update to come in a separate chart idea. : )
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OBV picked up nicely to the upside. Sat 11 Feb 16:15 UTC+1. Big levels of resistance ahead is the previous day close (pdClose) 21,798 and Weekly! above that at 21,830. There is a 0.618 at approximately 21,765.50, I can see any levels of support resistance at this Fib but sometimes new levels are made, surely. :) Lets see!
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21,550 next support and CC 0.618.
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nPoc 21,675 on 15 minute still holding as a support. dVal and pdVal 21,643 a support. Strong bounce of daily support at 21,625. 21,550-21,500 nPoc support and weekly support at 21,515. Daily at 21,315. Losing this daily for me would be a signal to the downside. A good liquidity gap to fill, for the upside.
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12 Hr chart.
1. Draw a Trend Line from Low on Wednesday 18th Jan 13:00 to Friday 10 Feb 13:00 with setting Extend right line.
2. Draw a Trend Line from High Saturday 21 Jan 13:00 to Monday High 23 Jan 13:00 with setting Extend right line.
The intersection is a Weekly support at 21,5ish (approx) in line with today, Saturday 11 Feb.
In line with a recent Fib extension 0.618 drawn from 10 Feb low a 22:30 to 11 Feb high at 13:15 target price of 20,575 and 0.66 21,561.
Interesting :)
1. Draw a Trend Line from Low on Wednesday 18th Jan 13:00 to Friday 10 Feb 13:00 with setting Extend right line.
2. Draw a Trend Line from High Saturday 21 Jan 13:00 to Monday High 23 Jan 13:00 with setting Extend right line.
The intersection is a Weekly support at 21,5ish (approx) in line with today, Saturday 11 Feb.
In line with a recent Fib extension 0.618 drawn from 10 Feb low a 22:30 to 11 Feb high at 13:15 target price of 20,575 and 0.66 21,561.
Interesting :)
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Call me sceptical. Maybe I overthinking. I still think a retrace back to 21,550. UTC+1 14:30pm.
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This pullback could catapult us to the next nPoc above at 22,575 .. Happy days
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Sorry for imminent update. Support being the pdClose.
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Resistance above pdClose being the top of the possible Inverse Head and Shoulders pdVah at 21,920. Mid level at 22,020 previous day x 2 previous day high at 22,020 and daily at 22, 136. Another daily at 22, 432 which aligns.
Keeping an eye out! for a failed auction. Looks bullish. Weekly resistance ahead, stay calm and expect resistance at current level 21,800.
Keeping an eye out! for a failed auction. Looks bullish. Weekly resistance ahead, stay calm and expect resistance at current level 21,800.
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Weekly 21,800 now a support!
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Level that History is made of :) Retrace in the future to come :p
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Many shorts kicking in. I like it. Pump it!
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21,900 resistance to the top of the Inverse Head and Shoulders. Low at 21,625 daily. Daily value area low(dVal), and previous day low (pdval). Using nPoc 21,725 as 1st line support, nPoc 21,675 as second line support. Neckline drawing a Trend Line from 10 Feb 3:45am UTC+1 High to 10 Feb 8:45am UTC+1 with setting Extend line right. Current exact support at 21,800. Without breaking this trend, lets keep going to the upside. Use as resistance if breaking this trend to the downside, keeping in mind the inverse Head and Shoulders Patter.
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Weekly Strong support. 21,825. Bunch of sharks waiting with sell orders below 21,800. :D Tough one to call. Volatility are us. Erm. Here is where I will pull the 0.618 card at 21,760 and 1st level support at 21,725.
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Based on Fractile support and resistance levels. 21,900 is a big resistance level on <1 hr time frame. =4 hour 23,300.
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Close on 15 minute candle on vWap, likely reversal. Early signal.
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Calling nPoc at 21,725. Early but just saying. New day open. If we break 21,825 pdPoc (previous day point of control) to the downside. With Massive Bullish Bias to the UPSIDE!
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Inverse Head and Shoulders coming into play. Beautiful <3
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Out on a limb here. I think 21,800 is unbreakable.
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All the shorts kicking on on a Weekly support. Definitely think its unbreakable. I being too smug.
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Pump it!
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Actually resistance is at 21,814 and a support at 21,826. Mental. Bull vs Bear fight! literally. Given were in an upward bullish trend. I side with the upside. Intense. Loving it. <3
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If we lose 21,8100. Next level of support os 21,500. Seems to be pointing to that level. At least some confluence. I believe that was 14:30pm UTC +1 ..Interesting.
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Not over until its over. The battle still exists!
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21,800 will truly be a level for history!
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The battle continues. What a show!
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One thing that has confluence for a Bull Win. Trend line :[ :p :) :d
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21800 is unbreakable!
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Why? At some time resistance has to (has to) flip to support. In a bullish uptrend, its probable that this resistance may, emphasis on may be support. Hence why I bullish on a resistance level, My thoughts.
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Resistance is Futile.
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After all that. 21,550 it looks like it is. Hecitc
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Ce la vie :) <3
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Price just hit 0.618 price 21,765. Nice buy level !
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Not a local 0.618. Macro 0.618 Risk management but this is your last chance. After the 0.382 that already played out. ;)
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21,800 unbreakable! :)
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21,800 casually lost! Next weekly at 21, 530.
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Pump it! :D
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Inverse Head and Shoulders now to the upside. Just broke a key level of 21,800 :)
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Fib based extension 21,900 ooh .. The me based extension 22,303
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21,800 +- = History
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+21,800 this round :p :)
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Mark the day 21,800 was defeated trying to push down to the down side. 12 Feb 4:30 UTC+1. See you soon my dear fo. :)
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BE EXTREMELY CAUTIOUS LOSING THE 0.382. Be on guard rather than ready to strike! I dont feel comfortable with this play out. Be careful.
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Guys somethings up. Not liking this downside. Based on my recent technical analysis. This downside, dont like it.
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Note: Nice bounce of previous week Value Area Low. pwVal (21,955). Previous week value area high. pwVah (23,415) and nPoc 23,325.