USOIL LONGS ACTIVE 📉📉📉Expecting bullish price action on USOIL as price makes a rejection move from 95.00$ price area bullish orderblock both on H4/D1 + weekly lows that has been raided meaning a lot of stops were liquidated, i think we will see buy side liquidity being hit this week if we have enough volatility.
What do you think ? Comment below..
Usoilshort
USOIL MARKET OVERVIEW USOIL closed bearish today which wasn't really a surprise. Unless further political events or fundamentals have a bullish effect on USOIL then we see further downside from here. We need to get a better shorting location with confirmation before we could look for an intraday trade.
My key levels to focus on this week are 103.40 /// 101.68 and 95.40.
These levels will form my trades bias, make sure you follow the link down below.
Bat Almost Complete!USOIL - Potential Bat Forming, Will be waiting for a D point completion and LTF confirmation before entering this. The demand zone is strong and the Daily is bullish so this trade would be a continuation on the Daily/Retracement on the 4H.
However we have another unmitigated Order block right on the Daily low with trapped liquidity at the X point of the bat, so I can see us getting a nice bounce from the D point followed by a sweep of the Daily low before a potential bullish continuation!
Let me know your thoughts!
* Disclaimer **
These ideas I never trade until the end target with my initial lots, I focused on high probable entries with higher lots and use a specific partial taking strategy giving me a very high win rate and take most of my profits very early, I only leave a small % of my capital to run the entire trade. On the flip side im constantly monitoring LTF momentum and will close early if things change, these analysis's are for research purposes only.
SHORT ON USOILPrice broken out of a falling wedge and has continued making lower lows and lower highs.
Price also retracted from the fib golden zone.
There is also a downward moving average cross with a massive momentum bear candle on the higher time frame.
I expect oil to reach the next support level.
Oil Repeting Pathern?We know how istitutions and people in general are moved by emotions, and chart partherns most of the time
will USOIL behave in the same way?
There are few events in the Economic Calendar for the next week previewing a rally on the dollar, which may cause Oil prices to plunge a bit
Cup and Handle Trading Pattern 📉📉📉✅ A cup and handle is a technical chart pattern that resembles a cup and handle where the cup is in the shape of a "u" and the handle has a slight downward drift. A cup and handle is considered a bullish signal extending an uptrend, and it is used to spot opportunities to go long.
🎯 Cup Handle Pattern
William O'Neil's Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. ... The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right-hand side and the handle is formed
🎯 What happens after cup and handle pattern?
If a cup and handle pattern is confirmed, it will be followed by a bullish price move upward. You can pick a price target based on the size of the cup, but it becomes much less clear what will happen after the initial breakout from the cup and handle pattern.
🎯 How reliable is cup and handle pattern?
The accuracy rate for cup and handle pattern for forex and stock on Daily timeframe are 65% and 68% respectively.
USOIL Trading ShortIt is important to ALWAYSN remember that when you are trading commodity assets in times of uncertainty to trade them small.
This is because they are heavily news affected.. And since there's a lot of news to give price movement you can get burnt. Nonetheless, these assets remain tradeable..
You just must do so in smaller sizes and faster TP's.
US OIL LONGUSOIL closed very bullish and we can expect further pushes up!
I will only be interested in longing if we get a pullback first. Entering now would open up too much risk but I am fully expecting new ATH and again my followers are well aware of what I believe will come next!
Follow the link below!
USOIL may continue downward trendUSOIL may continue downward trend based on following bearish indications on 4H candles
1. Making new Lower Lows
2. Downward trend-line still valid
3. Reversal from horizontal resistance
at 116 & FR 0.236
Plan A
Sell at 97
SL 104 (when it breaks trend-line)
TP1 89
TP2 82
Plan B
Sell at 88 (below next support level)
SL 97 (FR level 0.618)
TP1 82 (FR level 0.786)
TP2 65 (Support level)
USOIL LONGS 📉📉📉📉 Expecting bullish price action on USOIL as price takes out liquidith below the weekly lows + rejects a bullish orderblock area on H4. We are bullish from a fundamental perspective in my opinion. The targets for this week if we have enough volatility would be somewhere around buy side liquidity area 109.000 old highs liquidity.
what do you think ? Comment below..
USO: Island Hopping 🏝 Summer is approaching slowly but surely, and some might start to arrange their next holiday. Meanwhile, USO is already heading south and has a bit of island hopping planned. The first stop should be in the green zone between $68.62 and $66.43, where USO should finish wave 3 in green – and maybe drink a cocktail or two. Then, it should draw some breath in a short countermovement to complete wave 4 in green. Afterwards, the next green island between $62.86 and $60.67 is waiting, where USO should conclude wave 5 in green, wave c in orange and wave in magenta. Following another countermovement in wave in magenta, USO should finally reach the warm beach strip between $60.18 and $43.48 to finish wave in magenta and wave (2) in yellow and to catch some rays.