(OIL Spot) Bear necessities - 150% Fib expansion not impossible
Just a view on how price has been moved last year.
As a Bear you need to know when to be Bearish and when to go with the Bullish flow
We have learnt so much more about the Oil market in 2021. Like the difference between USOIL price and USOIL Spot prices change as the week goes on. Some days they are the same or 10-15 pips different. Some days can be as far as 70 pips apart with high volatility.
Our very best lesson was on how Vector (manipulation) candles are used to move price but we learnt a lot more than that.
One of the most valuable lessons was about when price get's embedded to the up side or downside. In the 4HR and Daily is where we have seen in stay embedded for 3-4 months at a time. When this happens it results in trending moves the whole time while it is embedded.
When embedded to the upside, significant shorts are less frequent and when to the downside the opposite is true.
With Oil pumping and pumping pretty much all of 2021 with the biggest falls when the embedded was lost, it is only right that we pay attention and be on high alert whenever we see this again.
Despite awaiting a plummet (holding partial sells from 80.35 7th Jan), we have noticed the daily become embedded in Dec 2021 and if it does decide to stay this way for 3-4 months then we will have a very high chance of hitting 150% on the fib extension to the upside which is around $97.2 by the end of 1st quarter 2022. (entered buys at 78.5 - USOIL- with Tight SL before close 7th Jan)
If it is lost however we can have a great sell to the low 60's again and possibly further down before attempting to go and get the Vector candles beyond $83.
If it fails while approaching mid 80's, buckle up for the skydive
(This is a bonus idea for those who trade Spot prices)
As a Bear you need to know when to be Bearish and when to go with the Bullish flow
We have learnt so much more about the Oil market in 2021. Like the difference between USOIL price and USOIL Spot prices change as the week goes on. Some days they are the same or 10-15 pips different. Some days can be as far as 70 pips apart with high volatility.
Our very best lesson was on how Vector (manipulation) candles are used to move price but we learnt a lot more than that.
One of the most valuable lessons was about when price get's embedded to the up side or downside. In the 4HR and Daily is where we have seen in stay embedded for 3-4 months at a time. When this happens it results in trending moves the whole time while it is embedded.
When embedded to the upside, significant shorts are less frequent and when to the downside the opposite is true.
With Oil pumping and pumping pretty much all of 2021 with the biggest falls when the embedded was lost, it is only right that we pay attention and be on high alert whenever we see this again.
Despite awaiting a plummet (holding partial sells from 80.35 7th Jan), we have noticed the daily become embedded in Dec 2021 and if it does decide to stay this way for 3-4 months then we will have a very high chance of hitting 150% on the fib extension to the upside which is around $97.2 by the end of 1st quarter 2022. (entered buys at 78.5 - USOIL- with Tight SL before close 7th Jan)
If it is lost however we can have a great sell to the low 60's again and possibly further down before attempting to go and get the Vector candles beyond $83.
If it fails while approaching mid 80's, buckle up for the skydive
(This is a bonus idea for those who trade Spot prices)
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