OIL/XTIUSD Weekly Forecast 20th-25th Jan 2020OIL 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 entries.
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My weekly forecast, highlighting the overall trend with key levels to get an idea of the best targets in the upcoming week and weeks ahead. Basic projection of the market with technical/fundamental analysis and is to be used for ideas, entry point analysis is done on a daily basis for entries with minimal drawdown.
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Xtiusd
XPTUSD WE ARE STALKING YOU!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 PULLBACK WE NEED TO EXECUTE THIS IDEA. TO VALIDATE THIS SETUP I WILL BE LOOKING FOR IT TO FOLLOW THE BLACK ARROWS ON THE CHART AND THEN GET PRICE ACTION CONFIRMATION ON 4HR CHART OR HIGHER. LETS SEE HOW THIS PLAYS OUT.
USOIL POTENTIAL SHORTI'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!
OIL to the topJust take a look at my chart drawing.
Enter-reason: clear support-zone (entry zone now), over-all uptrend because this supp zone is formed at 61.8 fib level (not drawn but its a fact), great risk/reward ratio. Target level that high because its the same height that has been occured in the last up-move before so we take that height and place it on our entry level to find out the potential target level. (Black straight lines).
Comments are welcome!