WTI Cash (or Spot) Contract forum
WTI Trading Tip:I've identified a variety of alphabet patterns that show up at Swing Highs and Swing Lows, based on Western price action analysis:
W (of three types near a Swing Low)
M (of three types near a Swing High)
m (near a Swing Low and can also form as a pullback)
w (near a Swing High and can also form as a pullback)
V (rare to see)
J-Hook (continuous bullish pattern) Inverse J-Hook (continuous bearish pattern)
Japanese candlestick analysis has its own alphabet patterns: P wave, N wave, and Y wave that shows up regularly on all charts and timeframes.
WTI After the end of a bear run, a bottom reversal pattern will show up for a retrace. But are we nearing the bottom of the descent? If you look at the Weekly chart, you'll see two Inverse Hammers. That's double confirmation of a reversal pattern to the upside, as long as that bear run has reached a bottom. If it is ready, a retracement move can start, but still take a while to develop on the Weekly.
As for the Hourly, after a Swing Low from a bottom reversal pattern shows up to begin retracing, one of three W-shaped patterns can then form through (wide and narrow) consolidation with the last of the four legs of the "W" shape being the longest for the bullish trend. We'll see if we get a very tall and simple (or tall and complex), W-shaped pattern for the bulls to take the market back up again.
USOIL right, this is my guess Market opens , we go down probably too $69.5 grab the liquidity and go back up to $73 by the end of the week.
USOIL hello guys We will continue to send accurate signals next week, don't miss itfollow for more 99% sure shot signals
USOIL Trading pyschology: Why is it that the price of an asset goes down a lot in one day, the impulse is to buy immediately, and not wait for a proper reversal signal? It is because of the human condition to believe that whatever is happening right now will continue happening. Humans by nature need continuation and actively seek it. For example, if just a day ago, oil was at 73 and today it is 70, this seems like a bargain to us because our brains are seeking continuation, if it was 73 yesterday, it will be 73 again relatively soon. This is dangerous when trading, as we all know, but it is interesting how we can know something to be true and acknowledge the reasoning yet behind why, still do it
USOIL 65 here we come. it looks like this will range between 65 and 78 for the rest of the year when it completes a descending triangle 📐
USOIL Check this Target🎯🎯😎 tradingview.com/x/gbAKj6PY
USOIL Here's some technicals to digest,ive always been a bull in the oil markets I prefer it.It is looking clear where we're heading 66/64s
Judging by candlesticks the past 2 weekly candles are more or less in a range closing lower and lower in dojis showing signs of bearish momentum (Bears are taking it)
The daily also kinda sideways making LH and LL
This is still one leg from the weekly still forming wether itll be a LL or a HL well have to monitor closely as oil loves to make HL it could wick to the low 64s and back up
Hold tight bulls our time will come to grab that 80/90s again.
USOIL Start going long next week and your account will easily make a profitIdea:USOIL: An Upward Trend Is Immi…
USOIL Crude below 70.50 As I told . Next Tgt I will post.