USOIL analysis chart based on a 1-hour time frame. The analysis tools and patterns used are:
1. Trend Lines: The chart features multiple trend lines, including a descending trend line that indicates a downtrend.
2. Support and Resistance Areas: The chart highlights a "SUPPORT AREA" and a "RESISTANCE AREA", which are used to identify potential levels of support and resistance.
3. Breakout: The chart indicates a "Break out" point, suggesting a potential breakout from the current trend.
4. Fair Value Gap (FVG): The chart labels a "FVG" area, which is a region where the price has gapped away from the previous candle's body, potentially creating an imbalance in the market.
5. BOS (Break of Structure): The chart labels multiple "BOS" points, indicating a break in the market structure, which can be a sign of a potential trend reversal or continuation.
These analysis tools and patterns are used to identify potential trading opportunities and predict future price movements.
Trade setup;
Bullish entry setup 58.00.
Target’s 62.00, 64,70
Stop loss 55,20
Use it with proper risk management.
That's all I've thought. What do you think about it? Write in the comments below!.
1. Trend Lines: The chart features multiple trend lines, including a descending trend line that indicates a downtrend.
2. Support and Resistance Areas: The chart highlights a "SUPPORT AREA" and a "RESISTANCE AREA", which are used to identify potential levels of support and resistance.
3. Breakout: The chart indicates a "Break out" point, suggesting a potential breakout from the current trend.
4. Fair Value Gap (FVG): The chart labels a "FVG" area, which is a region where the price has gapped away from the previous candle's body, potentially creating an imbalance in the market.
5. BOS (Break of Structure): The chart labels multiple "BOS" points, indicating a break in the market structure, which can be a sign of a potential trend reversal or continuation.
These analysis tools and patterns are used to identify potential trading opportunities and predict future price movements.
Trade setup;
Bullish entry setup 58.00.
Target’s 62.00, 64,70
Stop loss 55,20
Use it with proper risk management.
That's all I've thought. What do you think about it? Write in the comments below!.
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.
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.