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WTI, USDSGD report for swing/day trades #4

Still looking WTI swing long adding one more shadow zone

Analysis for swing traders

See previous post ‘WTI report for swing/day trades #2‘. Swing trade remains bullish but adding one more shadow at 68. This shadow potential resistance.

OPEC meeting on 22 June 2018.

Analysis for day traders

Bullish with current white week candle.

WTI weekly chart 04 by Colonel Kink Forex Reporter

WTI weekly chart 04 by Colonel Kink Forex Reporter | Source: Tradingview.com

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USDSGD end-of-week close above here long swings push to next zone

Analysis for swing traders

See my previous post on bullish swing setup for this pair.

An end-of-week close above current shadow resistance we will have a successful swing breakout. Swing bulls should then push to next shadow between 1.3519 and 1.3565. Current zone could offer entry if there is consolidation.

Analysis for day traders

Continue long with current week white candle. We are now seeing an alignment between swing and day traders rather than opposite. When interests align there may be possibility for quicker move.

USDSGD weekly chart 04 by Colonel Kink Forex Reporter

USDSGD weekly chart 04 by Colonel Kink Forex Reporter | Source: Tradingview.com

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Notes: Technical Analysis states that previous turning points offer future potential support resistance zones.

  1. Attach a horizontal line at each turning point in the past 12 months on weekly chart.
  2. These lines leave a shadow.
  3. Shadows are not evenly dispersed but tend to be clustered. 
  4. When multiple shadows confluence in a tight range, there is a dark shadow which will provide strong support resistance.
  5. Look for dark shadow to offer next turning point.
  6. Price will move quickly through empty spaces or bright areas.

Forex observations using the ColonelKinkSAR™ Method. Follow me on https://www.tradingview.com/u/colonelkink/.

I have no license to analyse/provide recommendation anywhere on Earth. I am a stranger. Bear your own consequence if you choose to listen to a stranger.

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