WTI > POSSIBLE COUNTER TREND?oil seems way oversold.
expecting price to go up very fast , if markets can recover once again.
Usoillong
USOIL, heading higher I am expecting Usoil to complete it impulse move with this wave 5 that is currently unfolding
US OIL will break the monthly resistance? 🦐US OIL on the monthly chart has approached a very important level of a clear resistance zone.
On the weekly chart we can see that the market has been in a consolidation phase for the last few weeks.
What we could expect is to see the price retrace between the resistance zone and ema 21 before a break or possibly a clear break of the structure retest of it and continue the uptrend move.
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Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
USOIL: +300 Pips Is Waiting If We Broke This Res Disclaimer : The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Red resistance line is IMPORTANTIf price reach the red resistance line ,i guess next step going to be 42.
USOIL, old graf updatedbullish ending given in 49.60, perfect touch in 38.73, now leaning on the red one, we continue. First target 42.70, second target 43.70
Which Way Does Oil Want To Breakout, Down or Up?Since collapse we have had a good recovery with a very strong impulse and the 3 day continues to shoot green.
Now we are zoomed in on 12 hour timeframe. After the strong impulse, price action has started to range into something similar to an ascending wedge creating a test at the recent top with a tight price consolidation.
These are the perfect kinds of moves you want to play. What we will look for next is to play a breakout either way out of the current compression point. Big volume should attack on the breakout.
$30 high / $29 low. Currently in mid range. Let it lead into a transition on the daily candle to shift the indicators.
Good luck.
USOIL BUY SETUPTVC:USOIL NYMEX:CL1!
Hey traders, please support my idea with LIKE or comment if you agree!
GOOD LUCK!
Potential Buy for USOILReason for Entry (R/R) :
Daily-Bullish
4H-Bullish
Confirmations: Break of 4H Resistance and Retest structure forming, 4H Fib rejection of 61.8%, 1H Structure being held @ 50% Fib Level, 15m HH and HL being formed. Buy Stop Set at 41.4 (Twin Trade 1:2, 1:3)
Outcome :
Feelings going into trade :
Confident in setup getting multi-timeframe confirmation. UCad falling cause of US Dollar so that is also reassuring. Also Sunny (Friend of mine who is apart of Trading Group) who is more experienced trading Oil taking trade with me as well. I think this is an excellent setup to take as my first FTMO trade.
Feelings after trade :
(These are my journal entries btw)
Long USOILI guess the correction has been completed around 40 -41 area. and continue upward aiming 44.6
Will start my entry when market open in the coming session.
Good Luck & happy trading.
Go long on USOILOnce the TP is hit, we'd recommend that you run this trade risk free in hopes of riding it all the way to 64.00 level...lol... we serious though.
LONG OIL despite everything.Resistance turned support zone.
Take profit at the next key resistance level as indicated.
Stop loss below the ascending trend line - which falls back below the support region making it bearish.
Requirements:
Await for retest confirmation before entering long. (Risk to Reward ratio will be lesser as compared to the chart)
