Get started

Swingtrader

USOILOil has been an interesting one this year. After seeing price drop below -$30 a barrel and now back to $40, you can definitely say it has been a roller-coaster this year. But when is the right time to buy oil? Let's take a few fundamental facts into this With counties opening back up around the world and transport and business starts to go back as normal, there will be a lot more demand for oil. Now, given there was to much supply and no demand, it may take time to use up a lot of the supply before more demand comes back into it. As I sit here and look at the USOIL chart on my screen, I’m noticing a bullish continuation pattern forming on the daily chart. My idea on this is to wait for daily bullish clove above the $41.35 resistance before continuing higher back to $51 - $52 level.
TVC:USOILLong
by UnknownUnicorn334611
Price Action & Psychology - Double bottom reversalHello ! Key points : Double bottom, cluster of candlesticks on first bottom Narrow range + low (relative) volume Buying pressure on downtrend I'm defining the resistance (previous support) based on the second gap (Gap2), on the distribution area and on the clear 3-candle swing high. To clarify, above the drawed resistance (previous support) we had a distribution period, followed by a move to the downside (see the spike in volume and the wide-range candles). The selling formed a cluster of 3 candlesticks, defining a pretty strong support. The last selling wave, that formed the second bottom, is pretty indecisive, the volume is low, there's always some buying pressure and the candles are narrow, it's following the path of least resistance, i.e falling from it's own weight. Weekly chart : From a weekly perspective, the rejection and the gap up stress the irrationality of the move. PS : I'm defining my stop loss based on the gap up (Gap1) that happened after the move to the downside from March. Thanks for reading and if you have suggestions or want to discuss the idea, just leave a comment, I'll be happy to answer. ***Disclaimer : This is not an advice to buy the stock. Please, be aware that trading is a matter of probabilities and that it only takes ONE trader to deny your trade.***
NASDAQ:GDYNLong
by UnknownUnicorn6734025
EURUSD SELL LOOKOUT Happy Weekend Traders , EURUSD is already showing willingness to continue to drive down based on the 3 weeks Pin Bars formed on the weekly timeframe. However, i am patiently waiting for price to pullback to my interested point before i would be interested in swinging this pair for a huge amount of pips in the coming week(s) . Your likes and comments would be welcomed . Please kindly Smash the FOLLOW botton to get more of this analysis . Thanks to you all for the support .
Short
by hardinnofx