USOil | New perspective for the week | Follow-up detail

This is a follow-up video to my previous analysis on the US Oil commodity as we close the previous week on a profitable note with over 300pips in profit (see link below for reference purposes). China being the world's number one importer of crude oil - the start of the Chinese New Year holiday will be closely watched to see if travel activities will be as robust as expected. As trading activities continue around the $80 zone and the long-term bearish trend line identified on the daily timeframe, from a technical standpoint, there is a high chance that price action might continue to find higher highs in the coming week(s). So the $80 - $82 zone shall be serving as a yardstick for a trading activity for this week.

Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

Trade active:

A bearish gap is identified as selling pressure resumed below the $82.00 level. Price action transitions into a trading range between the $81.80 and $81.20 zone and this simple set-up is what we shall be using to guide trading activities for today.

Good morning

Trade active:

Just as discussed during our live session today; secure all buy positions

Trade active:

Trade active:

As selling pressure continues below the $82.60 level in the last 8 hours, we might likely witness a sell-off any time soon. So, a breakdown/retest of the $81.80 level shall welcome selling opportunities. Update coming up soon

Trade active:

Secure sell position as price action breaks down the $81.80 level and the bullish trendline.

Trade active:

Secure all sell positions as buy pressure is observed at the $81.50 level. We continue to look out for selling opportunities below the $81.50 zone to add more positions. However, if the buying pressure around the $81.50 area breaks out of the $81.80 level, then we shall be looking out for buying opportunities.

Good morning

Trade active:

Secure the sell position as price action finally breaks down the $81.50 level

Trade active:

After taking out of the sell position, we shall be rooting for a bullish opportunity as price action breaks out of the trendline. Buying opportunity above the $81.80 level is what to lookout for now

Trade active:

Getting ready to risk a sell position at the breakdown/retest of the $81.50 level... Update coming up soon.

Trade active:

Secure sell position

Trade active:

Secure all sell positions as the second position got triggered at the breakdown of the $81.20 level

Trade closed: target reached:

270 pips profit from 2 positions as price hits TP target at the $80 level. Let's see how the price reacts to the $80 level to decide if we should be adding more sell positions (breakdown/retest of the $80 level) or getting ready for another wave of bullish momentum (if buying pressure is identified).

Trade active:

Since hitting the TP target, price action evolves into a simple set-up identified in the 15 minutes timeframe where the possibilities of both a trend continuation and counter-trend opportunity might open up for us. Stay tuned in!

Trade active:

Outlook on the 15-minutes timeframe

Good morning

Trade active:

Just as discussed during our live session this morning; secure buy position as price action breaks out of the $80.50 level

Trade active:

Secure buy positions while we anticipate another entry

Trade active:

Despite been taking out of the previous buy position at break even, Still looking forward to buying opportunity above the $80 level as a new demand zone is identified.

Trade active:

The previous update remains valid... Update coming up soon.

Good morning

Trade active:

In anticipation of the macroeconomic events coming up in an hour (Durable Goods Orders, Gross Domestic Product Annualized & Nondefense Capital Goods Orders); Secure buy position... watch the replay of our live session this morning for more details.

Trade active:

Secure buy position as the second position triggers at the breakout of the $81.20 level

Trade active:

After being taken out of the previous buy position with about 80pips profit, we still look out for buying opportunities above the $81.20 level

Trade active:

Securing the current buy position as price action continue to trade above the $81.20 level.

Good morning

Trade active:

Trade active:

Third position triggered; secure all buy positions

Comment:

Just as discussed during our live session today; secure all buy positions