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Oil future price target figured at WP level 59.70 was hit. +100 pips
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Hello!
Your sharing charts explainations with members,is fine as long as you are willing to post your indicator here! otherwise, also you can tell us that, your chart explainations will teach us some novel ideas.
Hope you got the point!
Sincerely,
rswamy4449
Pound stays on weekly support 2 and try to gain demand. The pair still under short investor control ( moving below red lines). The signal line is turning to blue mean buy. Strenght indicator shows the weakness of bear power and additionally MACD turning upside. Probability of upside movement increase. When the MACD above 0 line and strenght indicator green seen both together on H1 charts a strong buy signal will be realized. The upside targets are 1.8960 ( 0.38) and 1.9040 (0.61 ).
The confirmation signal of upside movement of pound has been realized by macd broken above 0 line and streght indicator green lines. The new candle opened above seller investors (red lines). In any back retracement through to redlines can be used as entry point.
in order to find presice entry and exit points i do follow guppy line. if the price is above red (investors) that mean the trend is above and i look any retracement down to weekly pivot supports or strong fibo level to enter the trend. in exit i do also follow the strong resistance levels drawn by fibo or weekly pivots. in downtrend i apply the same rules of couse in opposite direction.
Oil try to break the short investors pressure. After breakout the first target is weekly pivot 59.20 then 60.05 which is 0.61 retracement of last descent and 3rd target is weekly R1 60.60.
Linear Mode
