Weekly Review
This week has seen several amazing trade opportunities. We were able to profit off of five trades this week, with an exceptionally large call option that was grabbed on Friday. Going forward all trades and alerts will be announced on our Discord group under the community name “Barnett, LLC”. We are offering a 3 day free trial prior to full membership for those who wish to test out the service first.
Looking out further to the Hourly chart we are able to see that there appears to be some semblance of support @ 430 level with a large push upwards the last two hours of trading on Friday. I believe that this push if limited will leave the door open for much further bearish momentum, we might expect that we find ourselves range bound for the next week or two.
Extending our view even further to the Daily chart we find that the price action has found itself wedged between the 200 and 400 WMA creating a better view of the aforementioned sideways channel that the hourly chart is showing. This is a pivotal point in determining which way the pair will move, simply speaking if we have a significant break of the 400 WMA then we should expect to see a very strong Bearish push to the down side. If we see a push back through the 200 WMA we should expect further buying action; however, I believe it won’t be as volatile as a bearish move. The last two times in recent memory that we had a significant break below the 400 WMA was the beginning of the pandemic and the financial collapse in 08’.
