USOIL POTENTIAL SHORTI'M EXPECTING A FURTHER RETEST OF THE MAJOR SUPPLY AND DEMAND ZONE, AS YOU CAN SEE BY THE ANALYSIS I BELIEVE THE MOST RECENT CANDLE HAS BROKE TL RETESTED AND BOUNCED OFF, SHOULD SEE A STRONG SURGE UPWARDS AND THEN WILL BE LOOKING TO SHORT ONCE STRONG PRICE ACTION IS SHOWING ON 4HR/DAILY TIMEFRAME. GREAT RR SETUP, LETS SEE WHAT HAPPENS!
Xtiusd
OIL to the topJust take a look at my chart drawing.
Enter-reason: clear support-zone (entry zone now), over-all uptrend because this supp zone is formed at 61.8 fib level (not drawn but its a fact), great risk/reward ratio. Target level that high because its the same height that has been occured in the last up-move before so we take that height and place it on our entry level to find out the potential target level. (Black straight lines).
Comments are welcome!
Long from yearly pivot to weekly CAM R3Price just above yearly pivot - yearly support. Price opened above September monthly pivot, broke up the weekly pivot too. AD Bullish volume divergence on 4 hrs. Price is gonna shoot up at New York open, as for now USOIL used up only 38 percent of its daily ATR which is 170 points (some points above the target). Stop below September month pivot.