There are excellent chances for WTI to move up from here!
There is still 15mins for this candle to wrap up but I think there are great chances for upside since we are testing a support and have a contraction leading to 61.8%. The new 4H candles just started so im excited to see how things work out!
In my last post on WTI, we have predicted OIl to reverse, and in fact, it did after the hit on IRAQs Military Base back in December. Since then, I was targeting $50.00 Level, and then $48.00. As from the recent moves, I believe Oil is consolidating and have found some support at around $50.00 price level. Looking forward, I believe Oil still has room for a deeper...
WTICOUSD increasing uptrend movement. The white rectangle in the figure shows the daily correction range for WTICOUSD. We follow a similar set of rules to the previous XAUUSD analysis. In the event that the exchange rate is successfully north of the white line at 51.30usd, a strong uptrend will follow. 1. In case the exchange rate breaks down this level, we wait...
OIL/XTIUSD Weekly Forecast 10th - 14th Feb 2020
- Last week we was looking for fruther declines to the targets hit @50.45 and then missed target two at 49.1 by a couple points.
Going into this week looking for fruther declines with my key areas for potneital pullbacks set.
- Starting this week below key area of broken support turning resistance at the 51.65...
WTI and BRENT are taking heavy hits for some time now with the price dropping strongly on both mainly due to the Coronavirus, but more recently (Friday) due to the OPEC members not being ready to cut production.
We expect based on basic technical analysis that price should be moving south, our TP and SL can be seen on the daily chart (on the right) while our...
Buying oil ,
looking for some retracement of the 20% drop last month.
Have posted a D candle chart before this is a smaller time frame 4 hours.
Expecting oil to move along the ghost pattern.
Let me know what you guys think.
Brent and WTI remain in decent down-trends and the sentimental support a bearish outlook as the Coronavirus and OPEC put pressure on it.
Our system indicates great selling opportunity right now with a contraction leading ot 38.2% of the low/high of the recent movement.
Follow us, a video is coming as a related post!
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In this video I go over our watchlist for the upcoming week and I mainly focus on the daily chart... tomorrow in the lat Asian trading session I will focus more on exactly what we will do, but it is imperative for us to prepare for tomorrow today.
In the video we go over many forex pairs, indices and commodities.
A little bit about our system is below:
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Last two most recent weeks results
280+ Pips +6R x2 = 12%
180+ Pips +4R x2 = 8%
We're got 4 trades coming into the London trading session today and we are shorting AUDUSD, DAX , WTI and EURNZD.
All trades look solid and this quick explanation dictates what we are doing.
Our watchlist will be released only to our trading community.