Oil Update... Good news for oil was released on Friday about output cuts to reduce supply and bring up prices.
Lower TF here we see price broke above bottom rand and is now in a higher range, I am expecting price to break that level this week.
Trendanalyisis
AMZN Long Term Potential DownsideAmazon went from 5 bucks to 115 nonstop during the dotcom bubble. 2000%+ uninterrupted growth. It collapsed back down to 5 bucks during the crash.
Since recovering, Amazon has gone from 100 bucks to 2000 nonstop the past 8 years. 2000%+ uninterrupted growth.
Losing these weekly levels below would be baaaad. Could stop at any of those levels below but theres downside to like 100 bucks.
2000%+ uninterrupted growth = Sketchy.
wait for breakoutWe expect that LTC will continue the downtrend, but it will to retrace a little into the upside, to take a short trade we will wait for confirmation by breaking the uptrend, and for more confirmation, breaking the latest low. pentrating above WAVE A will corrupt this specific scenario but NOT the entire downside view.
let's prepared for this scenario and watch out!
Happy trading!
GBPJPY 4HRejection of support @140.00, price broke out of its downtrend line the retested the 50 fib level one last time before shooting to the upside. 1st Target @142.00 Target 2 @143.00
Trade with care !! ;)
GBPUSD DAILYPrice making higher highs & higher lows. Nothing indicating a trend reversal price came down to 61 8 zone / Daily support and respected it. I expect the US dollar will get weaker as well & am looking for a higher high to form @134.50 zone. Nice setup here entered long with a small entry for now & will be adding more on the way! possible 500 pip trade here will be watching closely : )
Drop a like & comment if you agree or have any comments to add!
Thanks! Trade with care!!
