Projections for personal development to be able to track methods of price action based on break and retest levels
Looking to reach 3rd level of consolidation. Inside bar in the 1hr TF.
Countertrade inside corrective channel finding a higher sell opportunity at supply area.
Strong DXY, I will enter after GBP news. Price action retesting levels after get broken.
All weekly, daily, 4hr candles are bearish. No new covid cases in NZ, EUR under economic pressure.
After MM pattern (peak formation high, 1st, 2nd level of consolidation, peak formation low).
Waiting on OPEC meeting on Monday to establish production. If they cut production in the middle east price will rise.
Waiting on a move to the 1st level of consolidation after pfl. Also a IHS pattern at the bottom.
Based on fundamental perspective: according to EUA, Russia and Saudi Arabia meetings to cut oil production in the middle east, this fact could increase the WTI price as we noted on last Thursday and Friday after that statement elevated the price to $30. Technically after that downtrend retracement to 0.618 targets are 0.618 extensions. Support broken and 1 level...
Peak formation low, first level of consolidation. It could do a double bottom.
Already formed W, it broke resistance, waiting for the price to make retest on the support that is W's neck.
Potentially gap will be closed and further rise. Rise on oil price would push strength on CAD