Chartist4312

Chartist4312

long term upward trend is confirmed with recent lows following a trendline. Earlier rising wedge is turning into a upward moving channel. Next up is a test of long term high of around 50.88 and strong fibos at 48

Chartist4312

We got some interesting structure right now. I am still in medium term expecting a higher high in medium term time length, breaks of highlighted strong resistance points will confirm the price's respect of the expanding triangle.

Chartist4312

We might see a reversal back to the main trend after last week's major event (Brexit). As you can see from the chart the situation now is quite intense between major structures and strong fibo retracements- expecting a strong move soon.

Chartist4312 Updated 

Big engulfing candle on Friday, having the daily candle close within old daily positive trend again, a corrective move along positive trendline will confirm the uptrend continuing.

Chartist4312

no signs of a breakout in this channel

Chartist4312 Updated 

The pair is in an ascending triangle now, ready to break out of the monthly range once again.

Chartist4312

the chart just screams now...let's see if we make a higher high this time.

Chartist4312

watching price action next week. If below trendline is supported, it will support the momentum building to soon break out of current negative channel.

Chartist4312

Daily channel has shown great support last months. Last days candlesticks confirming further downward move

Chartist4312

strong support below, add longs when near bottom of current channel

Chartist4312 Updated 

If daily upward move continues today and next week into old longer trendline, expect an explosive move. Bullish wedges has bad statistics and often have retracements, so couple of last days exit might just be a minor correction

Chartist4312

First a doji then a shooting star last two days...we might be building momentum to have a higher high which will stay above major upper trendline now soon. Looks like bears start getting exhausted over last past weeks. A cancellation of Brexit should give the force to drive and stay above the major trendline right above.

Chartist4312

3 or 5 wave pattern alternatives

Chartist4312

Long until around 1400-1450, if major upper trendline at point 4 is not broken over summer this will confirm the 5 wave pattern. If it breaks at 4, then we would have the start of a new structure at this timeframe. Pay attention to how beautifully the golden ratio, fib numbers and geometrics correlate. That is how nature prefers to make structures. These...

Chartist4312

Price is currently building momentum to go higher. Current price has lot of resistance at 48,5 - and lower channel wedge line below. Wedge itself has not finished it's constructing, and oil is in a demanding season fundamentally. Market is adopting faster than anticipated to adapt to lower supply as well, supporting stronger price.

Chartist4312

Nature has it's preferred way of constructing structures- humans, mountains, solar systems...everything. Price structures are no different. When geometrics, fibos, -and indicators as well, coordinate, it's hard to argue, isn't it?

Chartist4312

Trend line since middle of Dec15 is respected, followed by a ascending triangle, further supportig the upward movement. Yesterday's big engulfing candle at trend support also is a further confirmation about the direction now.

Chartist4312

Daily trend line was supported and we're moving upwards towar top of range at 1.139, with a possible breakout (again) supported by a upcoming ascending triangle.