doctorntz3

OIL - 4H Chart (Supply and Demand levels)

TVC:USOIL   CFDs on WTI Crude Oil
Bat Pattern requirements

  • The pattern incorporates the 0.886XA retracement. This level is at 50.84$
  • B point less than 0.618, preferably a 0.50 or 0.382 XA. In the pattern above B point is 0.529XA
  • The bat use a minimum 1.618 B-C projection. This is projected at 49.55$
  • The AB=CD pattern™ within the Bat pattern™ is extended and usually requires a 1.27 AB=CD calculation. This level is projected at 50.31$

PRZ Zone and Technical analysis

A weekly trendline is inside the range defined by the AB=CD @ 1.27 and B-C @ 1.618 inside the PRZ zone.
Defining element of PRZ 88.6XA is inside a strong supply zone printed during active trading hours (London). This supply range from 50.58 up to 51.21 (May 2017).

PRZ Zone levels : 49.55$ to 50.84$

Supply and Demand levels (on chart)

Dark blue = Fresh demand
Light blue = Two touches demand

Dark Red = Fresh supply
Light Red = Two touches supply

Short term supply

In the short term there is a supply zone (re-tested once and therefore not fresh) 47.75$ - 48.37$. Past that level there are other re-tested supply zones before the PRZ, but these are supply zones printed during not active trading hours and their candlestick formation doesn't suggest a strong zone.
Comment: Orders at supply zone, price breaks below 47$. Closing below pivot 47.29$
Comment: Demand zone 1H touch
Comment: Market order flow. Price bouncing off demand zone



New printed supply zone : 47.09$
Comment: Inside May Distribution supported by trendline.
Added new levels on chart

Comment: Price entering PRZ

Comment: Daily timeframe supply.

Comment:

Price failing to break 50.30 (most recent POC)
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out