eyck77

eyck77

The short idea has played out nicely. Now we wait for the long setup

eyck77 Updated 

Trade ideas based on potential reaction points from HVNs

eyck77

1. A clear break of 58.2 would see the yearly high of 59.02 being tested 2. However even after OPEC's meeting and the supply disruptions in the past 3 weeks, prices couldn't break the yearly high set prior to the meeting thus my view is that 58.2 would likely hold 3. If this is true, a test of 57 seems to be the case after the X'mas holiday * Any extreme...

eyck77 Updated 

For those taking a long term view, it is indeed a good time to short now. 1. Conservative traders can short after support level is broken and a clear confirmation of a double top pattern. 2. Take profit levels can be at any Fibonacci support levels 3. Neckline is around 42 level

eyck77 Updated 

Is this the start of a bearish wave? A break below 55 will confirm the start of a bearish wave

eyck77 Updated 

Bearish butterfly seems to be forming on the weekly chart. 1. TP levels usually at 61.8% of CD (for conservative traders) and 127.2% (for aggressive traders) 2. TP could be at point B or C too depending on the technical analysis tools used

eyck77 Updated 

Wait for confirmation of pullback 1. Enlarge short positions @ 56.45 level 2. Pullback likely back to channel line 3. Target TP @ 52.85 level

eyck77

1. Pullback to 23.6% level tested 2. Likely will test 38.2% level these 2 days - can close of some short positions at 52.80-90s level 3. Overlapping Fibonacci retracement levels at 52.16 - can close off balance positions

eyck77

Profit taking likely around 55 levels. 1) Short 54.95 - 54.99 with SL at 55.2 & TP at 53-53.5 2) Long at retracement level around 53-53.5

eyck77 Updated 

Short @ 52-52.3 if resistance doesn't break SL @ 52.9 TP @ 50.85