Got the breakout. Go long. Target of $61.
USOIL POSSIBLE SHORTS - WAIT FOR CANDLESTICK FORMATION
To find reversal points of a market is not easy but still possible, as we have found out using the example of WTI oil. Analysis "WTI ÖL - Again 61,8% - Only short-term long entry?" from the 07th of June 2019 or Analysis "WTI oil - Is the trend change for halving?" from April 12, 2019 or Analysis "WTI - till$ 45, no major trend reversal." from 13th Nov....
The exchange rate can now build the structure of the second fractal wave. In this fractal structure I look forward to building a wave structure. Later, I expect an upward outbreak. The target of the current motion is 69 usd.
Wait for further confirmation...
WTI is approaching our first support at 51.29 (horizontal swing low support, 100% Fibonacci extension , 78.6% Fibonacci retracement ) where a strong bounce might occur above this level pushing price up to our major resistance at 54.02 (horizontal swing high resistance, 61.8% Fibonacci retracement ). Stochastic (21,5,3) is also approaching support where we might...
WTI is approaching our first support at 51.29 (horizontal swing low support, 100% Fibonacci extension, 78.6% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 54.02 (horizontal swing high resistance, 61.8% Fibonacci retracement). Stochastic (21,5,3) is also approaching support where we might see...
Might be completing the last wave and then it'll be going down
Here is a trade on crude oil. Very simple, an inverted H&S pattern with a bullish divergence on the RSI and Stoch. Will wait for the right shoulder to fully form. Have a buy order set in at $50.4 with another buy order set in at $49.8. Once the neckline is broken (54.6) I will then buy even more. TP targets: 1 - 58.10 2 - 63.8 3 - 65.7 Stop loss at: 49.5
We broke in close out of a triangle continuation pattern.
USOIL (WTI) could start a bullish sequence in an impulsive manner.
WTI paints some impressive bullish signals on Heffae Clouds + QuantRsi longer timeframes. The idea of this trade is driven purely by technicals, I am not in the loop on fundamentals whatsoever. Daily chart shows inverse HnS on the QuantRsi as well as a new trend developing that shows upside potential: As warning, The last time Qrsi ran -7 on the 3Day QRsi,...
i expect a pullback on Usoil who face a weekly resistance after falled too much this last weeks/month so before end of years or new years is a legit rebound as people who have be in short will taker them profit pUt a stop loss at you entry point when Usoil go around 42.8-43.00 put the stop at 42.40 for secure yourself and at least secure few pis in gains we...