The support of USOil is very poor and this can be a very good opportunity to go short on USOil until it finds it's next bottom.
Always trade on your own analysis and risk manage properly.
All the best!
USOil has broken it's support and is currently in a bearish trend. The loss may possibly continue further down until a strong support establish itself.
This is only an idea and as always invest after your own analysis as well as money manage properly!
Happy Trading!
MARKET ANALYSIS: The pair is now trading inside a descending channel . As of now the current scenario shows that the market reached the channel resistance. So 4 hr candle gives us a better confirmation for shorting, We can go for sell trade setup. So lets wait and see what the market does in the coming days. Cheers!
Hi traders!
I rarely touch USOIL because of the nature of how it trades. In this pair, I'm usually very patient to see confirmed patterns on the daily or weekly timeframe to confirm my analysis. I think that's what I'm seeing now. USDCAD kinds of confirm it also. RSI couldn't be happier to prove us right.
USOIL SHORT
ENTRY : 49.145
SL : 49.94
TP : 47.25 &...
USOil is currently in a consolidation zone. Keep and eye on it for when it breaks out.
I am still neutral to whether it can go up or down. However, I do know that once it breaks out it will have a big move.
Always trade after your own analysis as well as money manage properly.
Happy trading!
USOIL has broken above the descending triangle formation, signalling a long up to the target zone at 51.40.
Keep your risk low and focus on long term profitability.
Heres a quick one
Looks like there is resistance around the 49.60 price which is roughly where were at now, this also is in keeping with the top of the trend line.
On the upside
So it looks like if price closes over 49.60 we would have broken both resistance and trend, indicating an entry for a long position with targets around 49.90.
On the down side, ...
From a technical perspective it would appear to me that the rally in Oil is about to stop and retrace to at least the 48.50 level.
I have a bearish bat forming on the 4 hr chart with a potential reversal zone of 50.32 to 50.95.
This bearish bat aligns with my EW count, the past time and price swings symmetry from through out the year, and also the extension of...
Trade was executed at 43.04, this is an update for my current trade
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CTF - USOIL
Chart timeframe - 4hr
Area of interest - 49 , 50
Potential target 1 - 47.50
Potential target 2 - 49.35
Potential extended target - 50
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CTF - USOIL
Chart timeframe - 1D
Area of interest -...
I will begin posting both backtested, and live trades with updates using the set of rules I've developed for short/long entries across 5 min, 30 min, 1 day time frames.
This system merely runs with trends and exits for this purpose are based on a set of rules.
On equities this system is mostly successful in a long only strategy as short side moves tend to be too...
