Mastering WTI Crude Oil with SMC & ICT Strategies Buy/Sell Zones
USOIL Mastering WTI Crude Oil with SMC & ICT Strategies: Key Buy/Sell ZonesAnalysis:
Price Action Strategy:
Support and Resistance Levels:
Support: Around 69.20 (Equal Lows)
Resistance: Around 70.50 (Swing High)
Trend Analysis:
The price is currently in a downtrend, indicated by lower highs and lower lows.
Candlestick Patterns:
Look for bullish reversal patterns near the support level for potential buy entries.
Look for bearish reversal patterns near the resistance level for potential sell entries.
SMC Strategy:
Liquidity Sweep:
A liquidity sweep is observed around 70.50, indicating a potential reversal zone.
Fair Value Gap (FVG):
An FVG is identified around 69.80, which could act as a magnet for price.
Change of Character (CHoCH):
Multiple CHoCH points are marked, indicating shifts in market structure.
ICT Strategy:
Break of Structure (BOS):
A BOS is noted around 69.90, confirming a bearish bias.
Fibonacci Retracement:
Key levels: 0.786 (70.40719), 0.705 (70.292575), 0.618 (70.16947), 0.5 (70.0025), 0.382 (69.83553), 50.00% (69.57).
Volume Profile:
High volume nodes around 69.57 suggest strong support/resistance.
Buy Signal:
entry: 69.57
tp1: 70.00
tp2: 70.50
sl: 69.20
Sell Signal:
entry: 69.20
tp1: 68.80
tp2: 68.50
sl: 69.57
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LONG entry: 69.57
tp1: 70.00 HIT NEXT TARGET tp2: 70.50
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Alex Gold Hunter
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bit.ly/4fQGd0G
bit.ly/3ODlUI4
Related publications
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.