Feeling Long on OIL
Weekly
- Stochastic around 40’s? N
o Previous low broken? Y
o Previous high broken? N
Daily
- Stochastic around 40’s? Y
o Previous low broken? Y
o Previous high broken? N
4 Hour
- Stochastic around 40’s? Y
o Previous low broken? Y
o Previous high broken? N
1 Hour
- Stochastic around 40’s? Y
o Previous low broken? Y
o Previous high broken? N
15 Min
- Stochastic around 40’s? N
o Previous low broken? Y
o Previous high broken? N
5 Min
- Stochastic around 40’s? N
o Previous low broken? N
o Previous high broken? Y
Indication: Price is around as low as it’s been all month. Overall price has been on a downtrend and on the 5 min it looks like new highs are being created just before market closed for the weekend. I see price testing the resistance at some point within the next couple weeks. I also see a triple bottom reverse bat type of formation. (Correct me if wrong). I don’t see how price would not try to test at least 50% of the recent high.
If you agree I would appreciate your LIKE, FOLLOW, OR COMMENT
If you disagree let’s talk this thing out!
I’m a new trader looking to learn and grow with this great community so let’s work!
Hope your trading week is going well!
- Stochastic around 40’s? N
o Previous low broken? Y
o Previous high broken? N
Daily
- Stochastic around 40’s? Y
o Previous low broken? Y
o Previous high broken? N
4 Hour
- Stochastic around 40’s? Y
o Previous low broken? Y
o Previous high broken? N
1 Hour
- Stochastic around 40’s? Y
o Previous low broken? Y
o Previous high broken? N
15 Min
- Stochastic around 40’s? N
o Previous low broken? Y
o Previous high broken? N
5 Min
- Stochastic around 40’s? N
o Previous low broken? N
o Previous high broken? Y
Indication: Price is around as low as it’s been all month. Overall price has been on a downtrend and on the 5 min it looks like new highs are being created just before market closed for the weekend. I see price testing the resistance at some point within the next couple weeks. I also see a triple bottom reverse bat type of formation. (Correct me if wrong). I don’t see how price would not try to test at least 50% of the recent high.
If you agree I would appreciate your LIKE, FOLLOW, OR COMMENT
If you disagree let’s talk this thing out!
I’m a new trader looking to learn and grow with this great community so let’s work!
Hope your trading week is going well!
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.
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.