BCOUSD @ 1h @ recovery is imminent (this 51th week)
Between 54.015 & 53.800 and between 53.800 & 50.800 the big picture is still bullish ...
Start of last week we got a good news from the OPEC - as the price rocked Up (from 53.130 until 55.501). Suitable
in this context is maybe the technical fact, that while the 2nd half of the week, traders traded BCOUSD in a trend-reversal-formation (something like a w wave). And that the price also breaked out of the downside trend (since mondays weekly high & tuesday intraday high). All in all, this fits the great overall picture, in my opinion! In principle, even between 54.015 & 53.800 and between 53.800 & 50.800 a pretty slightly bullish chart ...
The highs of the w wave (even horizontal lines) are usefully to get long again or even if you`re not long (more or lesse around 53.663, 53.458, 53.430 & 53.423). The temporarly high of last week before is so much important, at least in my opinion, `cause prices above are confirming even a trend-reversal-formation. On daily candlestick charts you can see and realize better what i mean :)
How ever, also the lows of the w wave are usefully to get long, but this would be much more interesting for scalper or even intraday trader. `Cause if the prices around 52.695, 52.511 & 52.113 not holds, 51.585 ios still in play. But all in all as i said at the start BCOUSD prices between 54.015 & 53.800 and between 53.800 & 50.800 are making the big picture is still bullish ...
Take care
& analyzed it again
- it`s always your decission ...
(for a bigger picture zoom the chart)
This is only a analysis (for swing traders) - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
Start of last week we got a good news from the OPEC - as the price rocked Up (from 53.130 until 55.501). Suitable
in this context is maybe the technical fact, that while the 2nd half of the week, traders traded BCOUSD in a trend-reversal-formation (something like a w wave). And that the price also breaked out of the downside trend (since mondays weekly high & tuesday intraday high). All in all, this fits the great overall picture, in my opinion! In principle, even between 54.015 & 53.800 and between 53.800 & 50.800 a pretty slightly bullish chart ...
- 56.027 (a) horizontal line - yearly high 2016
- 55.270 (b) horizontal line - tuesday intraday high
- 54.684 (c) horizontal line - wednesday intraday high
- 53.663 horizontal line - (high, start) wave formation
- 53.458 horizontal line - (high, middle - 1st of 2) wave formation
- 53.430 horizontal line - (high, middle - 2nd of 2) wave formation
- 53.423 horizontal line - (high, end) wave formation
- 53.032 horizontal line - temporarly high of last week before
- 52.695 horizontal line - (low, start) wave formation
- 52.511 horizontal line - (low, middle) wave formation
- 52.113 horizontal line - (low, end) wave formation
- 51.585 horizontal line - end of startline (last upside trend of last weeks before
The highs of the w wave (even horizontal lines) are usefully to get long again or even if you`re not long (more or lesse around 53.663, 53.458, 53.430 & 53.423). The temporarly high of last week before is so much important, at least in my opinion, `cause prices above are confirming even a trend-reversal-formation. On daily candlestick charts you can see and realize better what i mean :)
How ever, also the lows of the w wave are usefully to get long, but this would be much more interesting for scalper or even intraday trader. `Cause if the prices around 52.695, 52.511 & 52.113 not holds, 51.585 ios still in play. But all in all as i said at the start BCOUSD prices between 54.015 & 53.800 and between 53.800 & 50.800 are making the big picture is still bullish ...
Take care
& analyzed it again
- it`s always your decission ...
(for a bigger picture zoom the chart)
This is only a analysis (for swing traders) - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.