obaroedafe

obaroedafe Jun 11, 2020

HEad and shoulder pattern

obaroedafe Jun 11, 2020

Head and shoulder pattern.

obaroedafe Jun 9, 2020

Bullish Divergence on the 4hr chart at the 78.6 fib retracement level.

obaroedafe Jun 9, 2020

Price is forming a double bottom at the weekly channel support. A break above the 4 hr 50ma should bring about a 300pip move to the upside and may be the catalyst for an uptrend.

obaroedafe Jun 9, 2020

Price has formed a head and shoulder pattern as it breaks from the ascending wedge formation. Price is expected to move 100pips to 0.9200 level from neckline area once price breaks below the 4hr 50ma.

obaroedafe Jun 7, 2020

Price is in an uptrend but has touched a significant resistance area of 0.618 on the weekly chart from swing high to swing low. just below the 200WMA Price has formed an ascending wedge pattern indicating a reversal is likely to come. If price were to break to the downside, Price will test the 0.9241 and break of this level will test the 0.91171 level below it....

obaroedafe Jun 7, 2020

Price has formed a reversal candlestick pattern (Shooting star) on the weekly chart at channel resistance just around the 200WMA. On the daily & 4Hr timeframe, Price seem to be attempting a break of the Ascending channel support. On the daily chart, RSI is divergent On the 4hr chart, Price is At the 200ma and RSI points downwards. If price breeaks below 1.0690,...

obaroedafe Jun 7, 2020

Price was able to move up to resistance level at 109.75 following a break of the wedge pattern and ascending channel formation. Now price has formed somewhat of an elaborate inverse head and shoulder formation with neckline at 109.36 level. This should cause price to test the 112-113 level when it breaks above the 109.92 level. Price may also retest the 109.17...

obaroedafe Jun 7, 2020

Price touched the 200WMA and is reversing lower. Price closed with a reversal candle on the daily chart. On the 4hr chart, Price action has also turned lower with a series of reversal candlestick patterns and RSI pointing downwards. A clear break and close below the 1.1278 should create an opportunity to test the 1.11474 level. IF Price action fails to break...

obaroedafe Jun 7, 2020

Price action formed a bearish pennant which suggest that price will continue in its downtrend to establish a new swing low. The price action then closed below the pennant formation confirming that a move to the downside is of a high probability. Price is at weekly horizontal and dynamic support level. IF price action is to continue lower, Price will have to remain...

obaroedafe Jun 5, 2020

Cup and handle pattern. Price to reach 0.9069. If price breaks below the 50 and 200ma on the 1 hr chart, then the pattern becomes invalid.

obaroedafe Jun 5, 2020

Price building up for a break out at the 37.93 level. Next target should be at 44.85

obaroedafe Jun 4, 2020

Price bouncing off weekly support. Price looking to test the 1.55 level.

obaroedafe Jun 4, 2020

Looking to Add to previous position by scaling in. Pullback to the green zone with candle stick reversal. TP 110 SL- 107.51

obaroedafe Jun 3, 2020

Hidden Divergence If price action gets above 9800, Price will likely continue to 10630. If price breaks and retest the 4hr 200ma, then price should reach 8705 support level.

obaroedafe Jun 1, 2020

Opec and Russia dont want price of oil dropping for the next few weeks at least. couple that with economies reopening and the fundamentals for a long trade looks solid. Technically, the chart has broken above the ascending triangle, formed a double bottom on the 4hr chart and is consolidating above the ascending triangle. Once price action breaks above the 35.90...

obaroedafe Jun 1, 2020

Price has broken the 4hr 50ma on its way down from the 0.9068 resistance level. this should open up more opportunity for price to test the 0.8833 level of support. In order for this to happen Price will have to break below the 0.8890 support level established in the May uptrend.

obaroedafe Jun 1, 2020

Waiting for price to break outof the wedge Pattern. A break above 108.20 area should offer a decent long opportunity to 110 and based on volatility. On the other hand, if price breaks below the wedge to the downside, Price will continue lower to 106.33. I think price will likely go upwards but that can only be certain once the wedge formation is broken.