CRUDE OIL FOR RRBOUND BASED ON TECHNICAL ANALYSIS: 1.AB=CD 2.AB 1.27-1.414 FIB 3.RSI DIVERGENCE
FOR NOW, TRADING LIKE CHART SHOW.
SETUP AS CHART SHOWS
Two successful retest zone could be good reasons for short. Targets are as chart shows.
Chart shows details.
Trendline Resistance and a AB=CD completion may be a begin of new box.
Waiting for a pullback to the downtrend line and short.
Trader should got one short trade target reached completion last Friday. In my way, I would still have 1/4 trade holding and let it be until reaching the potential reversal zone. That is the area for completion of harmonic. ENTRY: 1.47 SL:1.453 T1:1.506 T2:1.548
For longterm, trader should find any opportunity to short on this pair. As long as this pair get close to 1.1, it will get close to sell zone. ENTRY:1.097 SL: 1.1 T1: 1.07 T2: 1.48
Like CRUDE OIL, trader find another possibility of AB=CD for EURUSD in the next year.
Now it seems that XAUUSD in the downtrend channel and can only find support right on the top of the red box in this chart, with a downtrend line support. Then see a movement in the box. The top line and the bottom line can both find structure in history price. Yes! Traders looking for another $100 margin in XAUUSD. ENTRY: 1100 SL: 1120 T1:1062 T2:1010
I've outlined ONE very important Horizontal supports sitting at 1099 to 1106 - it served as the bottom of a reverse. Just waiting to be actived.
The down channel still work now. Chart shows a BUTTERFLY also finished. With both influences in this chart, EURUSD could give a potential large profit on the way. Lets see.
MOVEMENT EXPECTION: First, retest the bule trend line Second, back to the red box Third, try harder to get to the top of the box Finally, get strong support the up up up
Technically,this AB=CD may happen. When it happen, Crude Oil be cut half again. Just an bold assumption for my cosideration.
The market is heating about the Federal Reserve raising interest rates in min-DEC. Here, chart is showing both way for XAUUSD to go after tomorrow. Both way could have almost 100 dollar and both way could have enough reasons to go. Lets see.
USING THIS CHART TO FORCAST A LONG TERM MOVEMENT FOR USDCAD. ENTRY:1.3203 SL: 1.338 T: 1.245