I am waiting for the long oppournity, I hope the price can pull back to the neckline. For the target, I won't expect oil can reach 85 USD. I draw a potential , B point is of XA leg. The the final potential reverse zone is expected to be the 1.272*XA and 2.618*BC. Watch the price action around 70, it's a support&resistance area from 2010-2012. This is my target
I am not using to trade in this chart, I am using it to find the target area of . I trade oil by head and shoulder bottom in this time
Thanks and good luck
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Nice chart (:
But do you have information about the volumes?
Because above one day frame chart, I don not see the volumes.. strange..
However , if it is h&s you should notice a decrease in volumes along pattern formation on weekly time frame untill the breakout, is it the case? Could you share a snapshot of the volums along with prices please?
Thanks advance !
I am not in front of my pc now.. I will look at it as soon as possible and let you know my thoughts