mxb1961

mxb1961

on weekly chart, 45 period LR has transitioned to down 2021 vol area bottom challenged this week but not closed below (yet) 2022 S1 and Cam R4 may provide support for a brief pullback ultimate targets could be the 2020 vol area lines (12053 top, 6856 bottom, or 9545 middle) another target could be the 2022 S2 which is ~6856

mxb1961

USOil looks to be continuing up after test of the median line on the monthly pitchfork. weekly view looks like several more weeks of consolidation to build base for next run up. consolidation on the 100 tick renko Once consolidation complete May/June, could see a run up to test the 2008 highs.

mxb1961

8 hr chart with monthly view Possible flag forming starting 23 March with last leg under development 50% retrace from 23rd low is 62.5x Volume profile from March is outside of February which could be indicating a sideways month April S1 is 55.1x and R1 is 65.8x and could possibly form the trading range for the month Short term looking for a setup to take...

mxb1961

I believe there are several key areas that were broken this week that will need to be tested before price continues to move up . The first item is the volume point of control (POC) from January 2020. This link was never test and now price, this week, broke through. A key indicator of future price movement will be if this line becomes support for price. If...

mxb1961

Chart Setup : Traditional Pivots – Yearly (Red) Camarilla Pivots – Yearly (Plum) Volume Area – Light Pink Opening Range – Light Grey Fixed Range Volume Profile – Scoped to a one-year boundary. The only change to the default setting is the fixed rows changed from 24 to 240. Stochastics : I use a dual stochastic with one set at default (blue) and one set to a...

mxb1961

Looking back to 2014 on weekly chart with volume profile defined for a yearly boundary, there are two key volume POC's that have yet to be closed. This is close to current price from 2018 at 69.0x which aligns closely to the Oct-2018 74.7x POC from the daily chart.

mxb1961

Looking back to the 2018 high, this chart shows some of the more interesting POCs from Volume Profile (fixed profile on daily chart across a monthly boundary) and when they were closed. This month (February 2021), WTI closed out one from June 2020 at 58.4x. This past week, it decisively broke through this POC as price did with the one from February 2020 this...

mxb1961

Down sloping PF off 2016 low and 2018 high (red) The median line provided some key areas of resistance/support from 2017 to present Support in 2020 low off lower parallel (good rejection) Test after price break late 2020 Next target is upper parallel. An option is that price breaks above upper parallel then pulls back to test the break

mxb1961

Modified Schiff Pitchfork (red) off 2008 high with pivots on 2009 low and 2013 high From 2013 through 2020, the median line has provided support for 2 large areas of tests With hard rejection off line in 2020, price now moving back to upper parallel One option is the upper parallel holds then price moves back down. A second option is that price breaks...

mxb1961

BTCUSD - looking across 4 timeframes (4h, D, W, M) indicators pointing to a vertical climb continuing to a 25k-29k range. looking at the weekly logarithmic scale setting a target based on a fib ratio from Dec-2017 high to Dec-2018 low.

mxb1961

Technical indicators look to be setting for a long run up for BTCUSD. Potential target before a pause could be 19.5K

mxb1961

TSI and Stochastics have turned negative on crude oil (100 point renko). Price could test some levels of support put in earlier this year in coming months.

mxb1961

Indicators look bullish. Could anticipate a run to 17K in the coming months for BTCUSD based on the weekly chart.

mxb1961

BTCUSD broke through resistance this past week and looks to have found support late. Continued movement up off this support price could target 10350.

mxb1961

XLE looks like hitting long term resistance. a break above the 38.3/4 level could signal much higher prices to test bottom of previous support

mxb1961

Quickly moves up to new resistance level. Based on indicators, looks like next resistance in 10160 level could be next if it can decisively break current resistance.

mxb1961

Looks like BTCUSD is hitting some initial resistance. A breakout above this current line then 8650 could be next. Indicators look bullish which could be pointing to another target of 10350 if first two lines of resistance breaks.

mxb1961

XLE could see a pullback through Sept-Oct but looks like limited upside before further drop. key resistance looks to be in 40-42.50 area. Resistance at this level and further downside later in year. The 100 tick renko looks like price does have upside potential in short term.