WTI has earned us plenty of profits during its bullish run that started about 2 weeks ago, but ever since hitting the 2021 top we have moved into more of a ranging market.
We've taken a short and have one more sell order at the upper orange level as there is a chance of a retest and that is where we expect/believe bulls to get "tired" and price to reverse back...
XAUUSD Is also Moving According our Previous Prediction. Now this is in Retesting Period. It has Maximum Chances that it will touch the Price level 1905 to 1910. Then it will start moving down to the Price level 1750 to 1700. Keep in Touch I will Update Further Time to time.
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I would be nice to attempt to get a wick entry from key previous structure down to the next key zone marked. Let's see if we get a significant pullback followed by rejections before we consider a sell.
Don't be fooled about the key level, I personally think this has a lot more upside potential before we see any sort of decline. I expect price to rise much higher to SL hunt the sellers that impulsively sold at the key level marked.
Let's see how this one plays out at the start of next week, have a great weekend!
Price is currently in a good BUY zone, this area has previously been used as strong resistance which has now turned into support, so i am expecting bulls to step back in and push price higher from here. If you do take a trade from this you can keep a tight stop loss because if price did break such a strong support then it has the potential to fall some way.
Nice...
OIL/XTIUSD UPDATE for Weekly Forecast 20th-25th Jan 2020
- Oil done a nice move to my first sell zone at 59.3
- Starting to show bearish momentum towards Target 1 set at 56.75
- Expecting pullback and even potential retest of the sell zone 1 and if market stays bullish at this potential double bottom ill be scalping long till my second sell zone.
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Analysis Was...
OIL Weekly Forecast 20th-25th Jan 2020
- Oil Done a nice bearish move after the us and iran tension as expected, due to this big move down if I do anticipate a bearish move continuation, I will be looking for a corrective structure towards 59.3 and further more too 60.80.
- If this plays out the first target will be set at 56.75. This will be a key area for new...
AFTER A RECENT 500+ PIP TRADE WE HAD ON 12.11.2019, HERE IS MY PERSPECTIVE ON PLATINUM. I AM LOOKING TO TAKE ANOTHER ENTRY TO GO LONG. I HAVE BASED MY BIAS OF A WEEKLY/DAILY VIEWPOINT AS THAT IS WHAT I FIND WORKS WITH THIS PAIR. THE THREE LEVELS PLACED ARE THE MOST WELL RESPECTED RESISTANCE ZONES. PRICE IS CURRENTLY IN ONE OF THOSE LEVELS SO SHOULD SEE THE...
I'M EXPECTING A FURTHER RETEST OF THE MAJOR SUPPLY AND DEMAND ZONE, AS YOU CAN SEE BY THE ANALYSIS I BELIEVE THE MOST RECENT CANDLE HAS BROKE TL RETESTED AND BOUNCED OFF, SHOULD SEE A STRONG SURGE UPWARDS AND THEN WILL BE LOOKING TO SHORT ONCE STRONG PRICE ACTION IS SHOWING ON 4HR/DAILY TIMEFRAME. GREAT RR SETUP, LETS SEE WHAT HAPPENS!
My wife is fed up and wants a new man... Please send me your applications... And hurry up about it as i dont want her hanging around.
From the chart we can see that this week price broke though our trend line after respecting our resistance zone yesterday, price fell out the sky yesterday afternoon the bears must have been in a hurry, but now we can see bulls...
My wife said i should spend less time around her sisters ( ive told her this leaky tap is a bugger to fix.. its been dripping for 2 months now and i still cant fix it ) ;p
Anyway enough about my marriage issues and lets take a look at oil... After a couple of days of bearish movement from market open this week price finally went into some consolidation today...
Oil has broke 2 key support levels today and shows no sign of slowing down, we are on a slight pullback at the moment and price has already touched our resistance level ( purple line ) we can see a retest of this level again before price makes further bearish movement and hits our next key level that has been used as previous strong resistance.
You can enter this...
