USOIL in weekly chart
Hello everyone
USOIL is experiencing many unstable and doubtful decision being taken in the Middle East and other dependent countries.
I think the best strategy is to wait for the trend reaches to the boundaries (Blue Channel) and then decide if your are really interested to get position or conservative strategy is to wait for Blue channel break out (Up or Down) because if this impulse cycle (I,II ) is correct so the channel will be broken out strongly in the next week.
Thanks
USOIL is experiencing many unstable and doubtful decision being taken in the Middle East and other dependent countries.
I think the best strategy is to wait for the trend reaches to the boundaries (Blue Channel) and then decide if your are really interested to get position or conservative strategy is to wait for Blue channel break out (Up or Down) because if this impulse cycle (I,II ) is correct so the channel will be broken out strongly in the next week.
Thanks
Note
If you check this chart (April) you can see how some simple things like
a dynamic resistance line and a power of midline can be important in
your strategy and can avoid your loss when your scenario does not go true.
Those days I was waiting for that dynamic line break out which did not happen and now I am waiting for wave (2) to sell the oil. (see my recent idea in hourly chart).
At this moment there is not any 100% confirmation for long or sell in the market,
so just wait in these situations.
AMA
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