New line of support at a very important number 50.00, where we also have an alignment with the 38.20% Fibonacci retracement, and 10 + 50 sma, and a monthly pivot point to bring support as well. Trigger candles and the end of a pattern move, a good chance for an upward move from here, entry as close to 50.00 as possible.
The objective is a break true, 0.75312 level, in which we will have a 50% Fibonacci and a weekly pivot point restiance, to strengthen our bearish move. Entry as close to the 50 simpel moving averages as possible, stoploss about 50 pip above. Eventually also an cross over with the 10 plus 20 sma.
A nice 50 simple moving average trendline, and a 10 + 20 crossover in alighment with the 50% Fibonacci retracement, in an oversold position. A new structure high, are expecting another structure high.
We have a 38.20% and a 61.80% Fibonacci retracement around our entry area, with a 10 + 20 sma. cross over about to happen, should give some very nice restiance, with a doji trigger candle. Stoploss just above monthly pivot point, for a tighter stoploss the weekly pivot point restiance level would also be a good stoploss level.
Near entry point we have a 38.20% and, 61.80 Fibonacci retracement and a 50 sma. trendline, look left for price action. And upon entry we should also be in an overbought position. On the daily chart we have a hammer trigger candle.
Entry as close to the 50 sma. As possible, near the 50% Fibonacci retracement level as well, with a trigger candle in an overbougt position, must equal a bearish move. Look left for past conformation. Stoploss just above 61.80 fibonacci retracement level and 50 moving avarges, restiance level.
Looking for a retest on the right shoulder, and the 200 sma. As restiance trendline look left for past price action, which upon entry also is in alighment with the 61.80 fibonacci retracement level, and the weekly m1 pivot point restiance as well in an oversold position, definitely looking for a bearish move here.
Entry at 50% fibonacci retracement level, while hitting our 200 sma. In an oversold position, at the end of a pattern move. Stoploss just above weekly pivot point restiance and 200 sma. Look left for price behavior arrows, and conformation. When hitting target1 I will take 80% of the profit and let rest of the 20% in the trade still, because this could also be a...
50% and 61.80% fibonacci alighment, with monthly pivot point support, and a 10 + 20 sma. cross over. Could be a bullish harmonic pattern in play.
50% and 61.80% fibonacci alighment with monthly pivot point support, and a 10 + 20 sma. crossover. looks like a harmonic move in play bullish. remember to press like.
With oil still going up, and a trigger candle, closing the end of a harmonic move in alighment with a divergence, i strongly suspects a bearish bounce here close to entry. And we also have a weekly m1 pivot point restiance near entry.