OXTUSD Potential MoveGood evening/morning traders and OXT fans,
OXTUSD is forming an interesting pattern and might give us some profits. Please see the following key points on the 4 hourly chart:
1. Forming classic RSI and MACD bullish divergence for the 1st and 2nd low.
2. The 3rd low is a higher low: proving that the bullish divergence could be real for a trend reversal.
The potential pattern could be an inverse head and shoulder (not perfect because the right shoulder is lower than the left one, but the trend should be similar) if the price hits the neck line.
The neck line is a strong resistance so remember to take profit first. If the neck line is broken and the price holds, the 100% measured move of the target is at 0.2042 USD, aligned with a long-term strong resistance.
This trade is very speculative in my humble opinion. Do your research and make your own decision.
HakoneDream
