Usoillong
CRUDE OIL: Bullish Pin Bar SignalCRUDE OIL : Long-Tailed Bullish Pin Bar Signal
Price Action: Price formed a Long-Tailed Bullish Pin Bar Signal overnight.
The recent Bullish Tailed Bar Signal that had formed mid-last week failed (We suggested trading this signal in the July 11th members' weekly newsletter).
Potential Trade Idea: We are considering buying on a retracement lower to within the range of the most recent Long-Tailed Bullish Pin Bar Signal.
WTI Cude (OIL) BUY TRADE IDEAHello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your strategy are satisfied.
Dear Traders,
If you like this idea, do not forget to support with a like and follow.
PLZ! LIKE COMMAND AND SUBSCRIBE.
Long on USOIL/ WTIBased on the structure of price action. There's a potential H&S, if this plays out then we can expect movement to the downside on the right shoulder, if not, we can see price move further above that supply zone.
DISCLAIMER: THIS IS ONLY A POSSIBILITY not a guarantee. The point of technical analysis is to understand structure and have clarity of the charts not so much predicting the chart but equip us for better reaction.
USOIL probability bullish for 110.00#usoil, oil price fall from 121.00 like falling bricks and tested 97.00 strong support area. I Started predict fall from 121.00 for target 97.00. now oil has tested 97.00 & 94.20 strong support area. 7th July made a strong bullish bar broker previous day high. oil may take long around 96.00 & 95.00 for target 110.00 however 106.00 preliminary resistance may take partial profit taking while medium term target 110.00.
0207 USOIL Wkly PlanHello traders,
USOIL might not follow us to test new low next week.
But at least we got part of that right, it made a support by reaching 104-105.
On weekly right chart, I would see a possible ABC "Z" pattern is ongoing. Price could reack wkly resistance zone agian.
On 6h left chart, ABC wave on this timeframe chart is ongoing. It could reack fibo 1.27 117.22 first .
So for next week, I would say a new swing up first, then think about how it will run before reaching wkly resistance zone. When it up there, think about how it will breakout after.
GOOD LUCK !!!
LESS IS MORE!
2806 USDCAD 6H looking for breakout to new lowsHello traders,
USDCAD is so bearish on daily chart.
And on 6h chart, it is still sideways moving above the weak support level WITH all price running beneath EMAS.
This is a best position for breakout strategy.
Check in later NY sessions to see if it would make a strong breakout signal, down there supports.
GOOD LUCK ON THIS PLAN TO SELL.
LESS IS MORE!
USOIL MARKET OVERVIEW Good evening everyone;
We stood off WTI this week and let it run it's course, we got caught out a few times last week trying to take some trades but they don't always work out. WTI has completely broken it's short to mid-term structure and I only think thinks it's pulling back due to weekly closures. I believe that WTI we continue bearish but the overall bullish trend can't be prevented. I am still targeting $185 a barrel which I think we will get the next leg for once we have the long term trend correction.
Governments are trying to resolve the energy crisis which is being heavily influenced by the price of USOIL. I believe OPEC will make attempts to increase the number of active rigs and output in an attempt to drive WTI down (which it will) BUT only temporarily. This is a train which will not stop until inflations clams down but we're only just getting started.
We warned of inflation, recession and market crashes before it even hit your mainstream media screens.
LONG USOIL ✅✅✅Hello traders!
✅ This is my trade on USOIL.
Here we are in a bullish market structure on a higher timeframe, so I am looking only for longs. After the consolidation phase the price broke the range and took out sell side liquidity from old lows and rejected from bullish orderblock. My targets are imbalances above that have to be filled.
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usoilIf 5 waves are in off the march 2020 lows during the covid crash then we topped around $130. We should now correct the entire move in the ABC which looks like a Flat because wave A was very shallow. This means that as long as wave B is in already then Wave C should be 5 waves down and test the golden fib ratio around $58. As the ABC reveals itself I would expect it to be not very neat and clean as I am forecasting today and probably develop into a very complex double or even triple correction to wipe out all the bulls. So this is just a preliminary forecast. We will be looking to buy this dip with crypto win profits because after the correction to USOIL is complete we should expect a new impulsive 5 up to start and go way past $130.