The Oil price & its pullback is almost ready to turn back around
https://www.tradingview.com/x/utFNTaiJ/
The only thing I might keep a watchful eye on is the Dollar which now is also puling back but possibly moving higher soon.& hopefully I have a Buy on the daily chart soon on the oil price.
What are traders thoughts about the traditional inverse relationship between oil and the dollar?
What we know is that the Dollar has already made a significant move in it's rally and now it's time for the weekly candle in oil to pump this thing higher.
It won't be as lucrative pulling into a petrol station.
The only thing I might keep a watchful eye on is the Dollar which now is also puling back but possibly moving higher soon.& hopefully I have a Buy on the daily chart soon on the oil price.
What are traders thoughts about the traditional inverse relationship between oil and the dollar?
What we know is that the Dollar has already made a significant move in it's rally and now it's time for the weekly candle in oil to pump this thing higher.
It won't be as lucrative pulling into a petrol station.
Trade active
Guy are you ready to go long on OIL?
This is a monster, I'll explain soon.
From the 15m chart go LONG on my signal very soon. It will be in notes below as this box can only be updated once
Note
Buy the Oil price from 2 minute chart now.
Or to play it safer wait for a signal from 15 m chart that I will post.
Note
The indicators I used are very god ones.
1. macd zero lag
2. momentum stochastics
3. stochastics divergence and see the bullish divergence on the stochastics above.
Trade closed manually
Wait for a later timeframe. More false signals the oil price is delivering.
70-72 here we come.
Apologies but I would prefer to give you a tiny loss then a big one.
I am trying tod wedge price a bit higher for you to exit.
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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.