USOIL USOIL strategy discussionIdea: USOIL:Strategic Analysis on Th…
WTI LIGHT SWEET CRUDE OIL CFD forum
USOIL USOIL strategy discussionIdea: USOIL:Strategic Analysis on Th…
USOIL Double Delight!On the Hourly, we have 2 Hammers, a Pinbar Hammer and garden-variety Hammer. And both are sitting atop a S&R Zone that can serve as a base to launch from. What a beautiful, double confirmation that a retrace is coming.
Also, an Outside Day pattern formed earlier within the descent. That means that after the bear run is over, you'll see an immediate retrace.
*Side Note: A proper retrace can be towards 58.86. This is based on mean reversion, which is when price action goes to an extreme to be overbought or oversold, it will revert back to its mean (average).
USOIL We continue to decline first TP 57-56 final TP 54
USOIL Powel summary: We don't know so we wait. I saved you an hour.
USOIL Any Confirmation for Bullish Trend?USOIL The bottom of a descent shows a Pivot Low (as a green arrow at 57.78) and tall Pinbar Hammer (sitting on a thin S&R Zone) for a reversal to the upside. For the coming retrace, there is still a tall upper wick to fill from a previous, bearish candle.
If the bulls want to really ascend, then either a simple or complex W-shaped pattern will start forming - usually at a Pivot Low or Swing Low. The long bear run is the 1st leg. The 2nd will be the retrace to the upside.
*Side Note: This long bearish trend without a bullish candle for a pullback is considered a "Low Traffic Area" because it's made up of all bearish candles - 7 in a row. We may see it's opposite: a "Low Traffic" bull run of all bullish candles with no bearish candle between them.
WTICOUSD now that the FOMC rate is announced. the markets will look to see if the report is dovish or hawkish. this will continue a negative bias or change current market sentiment to positive. enjoy the rest of your day/ evening, wherever you maybe
USOIL positive oil data is is a joke for this If it was negative this will dump
WTI Fed holds rates....WTICOUSD Trump: I don't know on tariffs exemptions. We will take a look at exemptions.
Trump: Not looking for so many tariff exemptions.
Trump: Not open to pulling back 145% tariffs.
Trump: No to potential for pulling back tariffs on China.