USOIL BAT Pattern formation trading setup
Hello traders, it has been a while.
Here is a harmonic pattern trading setup capable of initiate the reversion in the OIL market.
If the price manage to descent in the 21/barrel territory accompanied with the right price action we will have a chance to go long.
Of course news are playing a key role in the Oil market and maybe a dicline to that price to be followed by a new agreement/announcement of OPEC and Non-OPEC producers for more drastic measyres in order to support the price.
In any case this is a technical analysis setup and can be stand alone.
Targets to the 38,2% and 61,8% AD retracement and Stops 10-20 pips below X point.
With regards,
Michail Sideris
Here is a harmonic pattern trading setup capable of initiate the reversion in the OIL market.
If the price manage to descent in the 21/barrel territory accompanied with the right price action we will have a chance to go long.
Of course news are playing a key role in the Oil market and maybe a dicline to that price to be followed by a new agreement/announcement of OPEC and Non-OPEC producers for more drastic measyres in order to support the price.
In any case this is a technical analysis setup and can be stand alone.
Targets to the 38,2% and 61,8% AD retracement and Stops 10-20 pips below X point.
With regards,
Michail Sideris
Trade active
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.