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Wolfe Wave

a double bottom pattern confirmed if neck brokenTraders will get another piece of the current inventories puzzle at 14:30 GMT when the U.S. Energy Information Administration (EIA) releases its weekly inventories data. Traders are looking for a crude oil draw of about 300,000 barrels. An unexpected build will be bearish for crude oil prices, while a deeper than expected draw could fuel an intraday short-covering rally. A rise in crude oil inventories will reinforce fears of a global recession that would cut demand. This is potentially bearish. However, losses will likely be limited due to upcoming supply restraints. In November, the recently announced OPEC+ production cuts will begin, while in December, the fresh European Union (EU) embargo on Russian energy products will be strictly enforced. Our work suggests that the longer the markets remain in a trading range, the greater the chances of an upside breakout in November and December, once the impact of the OPEC+ production cuts and the EU oil embargo is felt.
FX:USOIL
by MtICHI
over 85.64 WTI is bullishHello traders price over 85.64 is seen as bullish so for bullish scenario the focus should be on tightening supply. The factors influencing this narrative are the OPEC+ production cuts, the EU embargo on Russian energy products and falling U.S. stockpiles. All of these factors appear to be weighing on worries over recession-driven demand destruction and the release of SPR crude. the SPR release announcement made earlier in the week is likely to keep a lid on prices over the short-run. But once its impact is over then sentiment will turn bullish because of supply restrictions from OPEC+ and the EU embargo on Russian crude. A harmonic pattern is also seen with a wolfe wave pattern to get better confidence in bullish move
FX:USOILLong
by MtICHI
NASDAQ: No technical reason to go long!Hi Traders, This is my view for this week on: - NAS100 I remind you that this is only a forecast based on what current data are. Therefore the following signal will be activated only if specific rules are strictly respected. I really hope you liked this content and I would like to know what do you think about this analysis, so please use the comment section below to give me your point of view. Pit DISCLAIMER: Trading activity is very dangerous. All the contents, suggestions, strategies, videos, images, trade setups and forecast, everything you see on this website and are the result of my personal evaluations and was created for educational purposes only and not as an incentive to invest. Do not consider them as financial advice.
CME_MINI:NQ1!Short
by kitchen_trading
1
MONDAY OVERVIEW on US Index and USD for Intraday and swingHi Traders, This is my view for this week on: - SP500 and NAS100 - NZDUSD - USDCAD I remind you that this is only a forecast based on what current data are. Therefore the following signal will be activated only if specific rules are strictly respected. I really hope you liked this content and I would like to know what do you think about this analysis, so please use the comment section below to give me your point of view. Pit DISCLAIMER: Trading activity is very dangerous. All the contents, suggestions, strategies, videos, images, trade setups and forecast, everything you see on this website and are the result of my personal evaluations and was created for educational purposes only and not as an incentive to invest. Do not consider them as financial advice. ———————————
by kitchen_trading