same concept with bullish break out 4h (I will post later) right now 1H bearish trend need to break 2327 support 1st to validate the bearish indicator it's not enough to make bottomed indicator while leaving a chance to reversal as bullish divergence later so hit under 2327 first before retrace up (or no retrace up due powerful 4h and 12h bearish spike and...
2303 next support MA 50 broken, soon MA 55 broken too on 12H
if bullish trend will draw triangle, because it still a valid bearish trend on daily I will show daily triangle later
1. still no lower low, breaking 2300 = lower low start of long term bearish trend 2. If it is lower low then it will create lower high = say goodbye to 2700$ for a while 3. it just 1 candle signal on 1H , 12H and daily, wont show on weekly or monthly yet so I don't know would monthly 2700$ target win the battle or not
With bullish divergence invalid, we will see a bearish trend continue next week to 2285$ This week problem There no structure as solid resistance So I can only speculate it will go to 2370 for now Note: If go to above 2370 then bearish trend might drop more to 2230 or 2180
still bullish up to August 2024 monitoring triangle bull flag or not
1. 15min TF only work for 2 days 2. 2422 becomes temporary support after bear trap under 2420 (blue circle) 3. TOO MANY UNTESTED SUPPORT, BULLISH TOO STRONG, NO NORMAL RETRACE DOWN 4. don't short!!! BREAKING: Iranian media reports that Vice President Muhammad Mukhbar is set to take over as acting president @spectatorindex 25m BREAKING: Hamas send condolences...
a lot of people will see 2700$ as the next target but for me, I notice there is a shallow retrace down to 0.764 or 2280$ area so we will see a choppy up and down to 2600$ and a resistance to 1.272 fibo or 2600 bull will be weak as long no strong news even with strong news will see resistance again on 1.382 fibo or 2270-2700$ take note that fibo analysis not...
red for bottom blue for top it always changes every 1 red cycle so this year and next year could be bull cycle for august
there alot of fibo and pattern in USOIL I will post fibo later for now looks like pattern still bearish until year 2026 or at least until 40 support retest quite funny how Biden want Oil above 75$ resistance 105$ and Trump want oil under 75$ support 34$
I circle all red histograms in the daily chart daily soon enter bullish trend but I will show other TF why bullish trend might hit 2450 soon
based on other charts (not Xauusd) I draw a very slow bearish trend will compare it later and see if there is any spike or not this for experimental only don't use it as suggestion for any trade
monitoring weekly 52k and 47k support it's all about same pattern but monthly not finished yet will bullish pattern IMO
3month timeframe can be used for years of long term signal use stochastic to determine bottom fibo we will see - 2945 - 2700 - 2582 - 2461 - 2349 - 2220
that weekly resistance become weekly support for now stochastic will bottomed but that structure will hold and become rocket base for bullish long term trend
above 2353 bullish again to 2450 FOMC + CPI = very strong volatility might spike to 2450 before bearish usually would see retest to fibo on 2316 or 2305 but technical interest zone in 2299
as long as above 2251 will see 2288 and 2300++ as the next target when 2300$ hits its a grey zone, weekly can see it as a bull trap or continue rally above 2300 (to 2350 and 2450)
using different fibo, since I want to see target above 2300$ 1. above 2300$ we will see 2450-2470 as next target 2. next 2650$ but that not top price, just a strong resistance 3. 2070 still a good support just I don't know when it retested before next rally