Usoilshort
USOIL short US oil just gave us a sell signal, as it looks like, in the 4 hours frame time.
we have a significant rejection with volume, what chart is telling us here is that get ready something will happen,
and I am sure that price will drop and sharply, it may sideway first but surly it will drop.
and now is a really good time to sell.
if we gave a look to the HMAs we would see them pretty far from the price, and it definitely can't stay that way for a long time, retests on them are a sure thing.
US OILUSOIL...
I still expect a pullback from oil but this consolidation has been extended making a breakout more likely! I favour the upside for a spike to liquidation and sell orders can be met (We closed above major support and the majority of retail are shorting the obvious H and Shoulders. I am not entering this...just for reference.
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.
USOIL LONGS 📉📉📉Expect bullish price action on USOIL as price takes out liquidity on the retail trendline, rejected a nice M15 bullish orderblock. Price is in a bullish market strucutre and should rise because of the risk off market environment + bearish gap that should be filled on usoil, lets go for 3R.
What do you think ? Comment below..
USOIL UPDATE SHORTS 📉📉📉We have strong bearish momentum on USOIL i dont think it is the best moment to close our short entries, we have a risk off market sentiment right now so we should expect bearish price action still...
I moved my stop loss to my entry so i have a risk free trade.
What do you think ?
Potential Shark Forming 🦈🦈USOIL - Potential swing down to the weekly support line covering off all imbalance etc before the bulls continue, (This move will keep price in bullish structure).
I'm seeing a bearish channel forming on the hourly and price location lines up with good confluence for a potential swing down to those levels, we also have multiple BOS.
I do have 2 better entries above the trapped liquidity but I'm not sure if price will break this line yet, if so I'll take the loss and re-enter with confirmation.
Let me know your thoughts!
** Disclaimer ***
These ideas I never trade until the end target with my initial lots, I focused on high probable entries with higher lots and use a specific partial taking strategy giving me a very high win rate and take most of my profits very early, I only leave a small % of my capital to run the entire trade. On the flip side im constantly monitoring LTF momentum and will close early if things change, these analysis's are for research purposes only.
USO (US Oil ETF) - Support, Resistance, Trendlines - 2021USO (United States Oil Fund ETF) - 2020 to 2021 - Support, Resistance, Trendlines:
-Resistance Price Levels (colored horizontal lines above current price)
-Support Price Levels (colored horizontal lines below current price)
-Trendline Resistances (diagonal yellow lines above current price)
-Trendline Supports (diagonal yellow lines below current price)
note: chart is on log scale.
USOIL SHORTS 📉📉📉Price is rejecting in this moment an important area of ,, resistance ,, a bearish orderblock on h4 filling in the same area the bearish imbalance that means the price is repriced at this level. We also took out some buy stops above old highs and right now we should go lower after h4 candlestick bearish will be CLOSED. I target bullish imbalances.
What do you think ? Comment below..
Wait for divergence and sell opportunities with USOILH1 time frame.
Structure: Short-term uptrend towards 74.00 price zone.
The 74.00 price zone is the confluence between the Fibo 50 and the downtrend line of the bearish structure on the 4-hour timeframe.
Here, waiting for the divergence signal to appear and the bearish reversal pattern to be completed, a selling opportunity can be found.
The profit target is the 62.00 price zone.
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Wish you all have a good trading day!