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Fibonacci Cluster

Swing idea in OILFollowing the downtrend from june i see this 46 level as a critical support/resistance zone before we can see a trend reversal or a continuation to the downside. If we can break to the upside the most likely level that we're going to test its the 50 area. The bat pattern isn't violated yet, until we break our X point so i took that as a confirmation of a posible reversal or at least retracement in this move. I love to see the S/R level comming at a confluence of fibs (.618 and 1.618 ext). Notice that we also are creating lower highs in the RSI at overbought condition. Keep it simple, and focus on the process Twitter: @JeanC680 Jean
FX:USOILShort
by JeanConsole
Dow Jones Bearish FibonacciHere we have some Fibonacci ratio confluence that could be very powerfull We have stops above the 1.618 extension wich, in case that price action breaks it, means that the price is not overextended and that it has a high likelihood of going bullish. So we will expect a move towards of take profit or stop loss next week. You also have to have in mind that in summer markets are very slow so, patiente. Remeber your setups, do not trade other setups wich you dont know nothing about, just in case. Trade responsibly!
TVC:DJIShort
by SrBrems