It’s consolidation on a main level waiting for a break and retest . But on the daily it’s an engulfing bear candle , on the 1hr and 4hr its morning stars showing it’s going down let’s see .
Confluences : 1. Market under moving average 2. 4hr : Evening Star Pattern 3. Market Broke my 1hr Green Trend line, respecting red counter trend line
Its only Sunday , But it broke my 1hr green trend line and its going down . Its a big imbalance below so I know It has to go down there to fill that. But let see . I think this will be a bearish week.
I’m looking at the candles , and really don’t seee anything clear , and my red trend line isn’t that strong . But we will watch and see how this small consolidation breaks.
Its consolidating on that key level, its respecting my green up trend . So I believe it will go up . Lets see.
I just started really marking up Oil. So my confidence is still growing. But Im watching to see if the market breaks this green trend line or respects it.
That Engulfing bear on the 15min is showing me that It will go down to that 2647.
Looking at the chart now, on Friday . I see the market broke mu green uptrend and went to the 2647 level but it created a morning star . So I believe it will breakout into a consolidation to head back up to create new higher highs like it did last week for this upcoming week.
The engulfing bear candle on the 30 min is kinda making me believe the market will drop to the 2647 level and maybe break out in a consolidation and from there we will watch which way it breaks out.
So the market was in consolidation it broke out , broke my red counter trend line. So I knew it would go up . It touched the high at 2634. Now it broke my green uptrend line and I believe its going back down to 2624. But lets see how it breaks out of this consolidation now.
On the 15 min the market is consolidating , I believe it will go down touch my green trend line then go back up. But my Bias for this week is BULL
I see that the market is literally bouncing off my green trend line and going back up . So I believe it will do just that to end this Friday . It’s going to go down to my green trend line , respect it and maybe go to 2620
I see the market going back up to 2595 and we will watch to see what happens there. It might consolidate and go lower to around 2588 and if it consolidates and decides to go up , I think it will go to the 2600 level again maybe for a bigger touch this time. Lets see
I'm watching to see if the market breaks my little down red trend line and that will confirm its going up to fill that imbalance.
I believe the market will go up touch my red trend line and cont. the break down its in and head down to my 2560 level. See chart for blue drawing describing what I believe will happen .
A spotted a few engulfing candles so it might drop lower. See previous idea for pre- bias
Still consolidating but I created a counter trend line lets see if the market respects it or breaks it. Watching to see a break of the consolidation as well.
The market is currently at its new high and its consolidating . I believe it will drop to the 2570 level and we will watch to see if it will go into another consolidation and wait for a break out to see the direction to create a concrete bias for this week.