Updated

OXT.usd hit ALL Targets and is "Retracing"? "Crashing"? "Done"?

Another quick post to map nearby zones of interest.

The bounce ran to its 5.236 extension and stopped hard.
Now we need to watch the support zones for further clues.
If bull, it will be a shallow retrace and bounce next day.

5.236 is common endpoint for strong waves in all assets.
3.236 is the most common retrace point for such a wave.
4.236 will be resistance now, for possible wave C to start.

Previous bigger picture analysis Mapping the Bottom:

OXT.usd Does it HAVE a bottom? If so, this HAS to be it

Note

Ping

Right off the bat we bounced in to the 4.236 mentioned

This is the moment of truth.
Do we still have a wave C down to go?
Or is retrace done for now? (good chance it might be if strong bull)

==============================================================================

Note

Finally, a bottom?

Bulls defended 25 cents without actually touching it, and are now making a push

I will be watching/measuring this bounce for any hints of a target(s).

=========================================================================================

Note

Bounce Update

The bounce si showing some "fib legs"

perfect 2.618 peak.

.

Zoomed OUT (15 min) and including new fib with existing ones:

if bulls can get past 31 cents, then 32.5 and 34.5 become quite viable.

Lets see how this goes from here, but looking pretty good thus far.

=============================================================================

Note

Re-Accumulating?

This gold zone is a common re-accumulation area

top of the Impulse (fib 1.0) to the 1.236 extension is very often a re-accumulation if it lingers.
The buyer(s) that created the Impulse usually buy again around 1.236 extension.
It is kind of like the first line of defense for the buyers in this case, sellers if opposite direction

That is nothing "for sure" in that logic, but I have this happen any times.
If it lingers in this zone an then starts breaking above, we should see another leg up.

All in all still looks pretty good bull case.
Not AS good as I would have like to see,
BUT we did push the bottom UP one fib band, and that is a good start.

=============================================================================

Note

Power of 3

Currently stuck under a cluster of 3 fibs

and all three are strong contenders.
Break out could run with pent up pressure release.
=============================================================================

.

Note

Break Out

And on the move with subsequently higher Fib Pings

34 cent target very plausible for this push
=================================================================================

EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag

Related publications

OXT.usd Does it HAVE a bottom? If so, this HAS to be it

by EuroMotif

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag

Related publications

OXT.usd Does it HAVE a bottom? If so, this HAS to be it

by EuroMotif