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Usoilforecast

US OIL MARKET BREAKDOWNFirst trading week of the year has completed...Now the real fun and games start next week when liquidity and volatility comes back into the market. We caught a lovely short at the end of the trading week and as some of you will know I have been waiting all week for that move. Let's recap everything so far: Earlier on in the week we saw oil around the 74-75 where everyone thought the head and shoulders would come into play but we were one step ahead and didn't fall for this trap. All week I was screaming 79-81 will come through and we hit bang in the middle of it. We did take some short at the right shoulder but these were quickly scalped and profit was taken before the primary move. Oil lacked momentum all week as it's movements were slow until a couple of hours ago which showed signs of weakness which is why we didn't see the extra push and we noticed that before we saw the fall. Oil closed on a very important region for me and should the overall trend turn bearish we will see $56 from here (LONG TERM!) but we will put that to one side for now and focus on what we have at hand. Trading plan for the upcoming week: OIL has closed back within its smaller and larger channel which should push us down and we will see some nice pullbacks...I am already positioned in for these pullbacks. On market open next week OIL could push 79.60 region to give whales another chance at a decent short location but I'd be surprised now if we saw 80 or above again but a few daily candles below the current region and it should rule that out but again nothing is 100% in trading. The blue support line is what I favour most and it is where I am looking to short to. From here (blue line) oil will makes it's decision whether it wants to continue bullish or turn bearish and I will position accordingly once I see development. Ultimately I am short now as we should see pull backs for the new year, I will add further positions when the opportunity comes and I will stack accordingly. Like and Follow this page...read my profile for a few surprises. You will quickly find I am the only place you need to come for your oil related content. HAPPY NEW YEAR...let's get ready for profits
TVC:USOILShort
by UnknownUnicorn33264805
6
US OIL MARKET BREAKDOWN There she goes... Everything apart from the extended manipulation targets have bee met and have been calling the downfall since reaching this region. Now we refer back to the overall target and what was stated in the long term. I currently have a short running down to consolidation where I will be looking to take profit but I expect a further dip past this region to grab some real liquidation. If oil can keep within this channel it will likely see the downtrend scenario. I predict a positive oil for Q1 and Q2 but when we start reaching the bottom zones...(I have some in mind way below the consolidation region) I will start to reconsider my bias depending on price action. Short running stops above 79.40 to give you an idea
TVC:USOILShort
by UnknownUnicorn33264805
US OIL SHORT UPDATEJUST LIKE THAT! As Mr Joe Rogan would say... I do not post my positions on here I keep them private along with the analysis I use...I mentioned about being well positioned in my last post and we robbed the market for 70 pips with a few minutes. I mentioned that we wouldn't consolidate at this region and that there isn't enough momentum to carry so we needed a drop! By now you will see that this a new account but I am not a new trader so make sure you like and follow!. Want to learn more feel free to DM me. I will wait for confirmation before my next move.
TVC:USOILShort
by UnknownUnicorn33264805
6
US OIL MARKET BREAKDOWN Oil is following analysis very nicely...slowly but nicely. Due to the new year coming in and trading just getting back into the swing of things we can expect consolidation and low liquidity in most pairs until the ball really starts rolling. As mentioned in my last post I have expectations for oil in Q1 and Q2 but we need a liquidation region to push to the accumulative zones and I expect this to come sooner rather than later. When I post I am not telling the market where to go I am simply trying to predicts it future movements so I can be prepared to take the trade when the opportunity arises (NEVER TRY AND TRADE THE MOVEMENT YOU PREDICT...MARKETS MOVE ON THEIR OWN ACCORD). Oil has broken its consolidation and retested with a rejection which is a good sign. Oil usually has big spikes and long wicks in its corrective move and that's what I'm waiting for...Oil can easily push 79.70-80.30 which sits just outside the true trend so I favour this as a short region. We can't rule out the possibility of the purple zone this is a major liquidation so I will keep my eye on it. I will watch and wait for rejection and then take my shorts down to the 75-74 region hopefully gaining 500 pips profits. Feel free to drop me a message.
TVC:USOIL
by UnknownUnicorn33264805
5
USOIL Potential Head and Shoulders FormationUSOIL made a massive move after the pandemic and it's now moving in a range. It's currently trading in the resistance zone. Based on previous price action, it seems like it will complete this Head and Shoulders pattern over the next few weeks. But it's quite possible that it will continue its move upward after completing this pattern because there are fewer chances of a breakdown. This analysis will be considered wrong if it touched 78.30 level before completing the pattern. Thanks! Best Regards, Trade Like Pros.
TVC:USOIL
by TradeLikePros
8
US OIL LONGOil has consolidated for the first week in the new year and we are starting to see that push higher which was our favoured scenario. Now we need to wait for oil to finish this bullish push...Due to the large head and shoulders pattern retail will be shorting and shorting and the whales will be pumping for liquidation. I am expecting moves into the the $79-80.30 region which is where I will look to short the corrective move which will come into play. Any economical events could drop or push oil so I will stay weary...ultimately I will be expecting oil to push 90-100 this year (Q1 and Q1) targets. But I'd like to see a dump first for an accumulative drive up to achieve those targets. Follow me to stay update and keep your eyes peeled. Feel free to DM to see how I can help you!
TVC:USOILLong
by UnknownUnicorn33264805
USOIL MARKET OVERVIEW USOIL OIL has opened this trading week with a bullish impulse, currently oil is fighting on a bullish zone which requires a lot of drive to break through the zone. With many bank holidays and coming up to the final few trading weeks of the year I see oil pulling back to gather momentum to take it to the next high when the markets get back into the swing of things after the new year. Oil has broken out of a wedge which also needs testing before the next move...I expect dips back towards 70.70 before we see the real move coming. I currently have a short running and the set up will be posted soon. I will not be longing oil until we see a large dip and clear rejections of 70.70. OIL should be bullish into Q1 and Q2 with the rise of inflation...get ready.
TVC:USOIL
by UnknownUnicorn33264805
1