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Usdwtilong

USDWTI LONG Hello guys, In this video i show why i see a long in usdwti. My long biased supported by fundamental-analysis of the pair. Oil has been extremely cheap this year. It is currently at levels where banks and hedge funds see as areas of interest offering lower risk and high reward for long. Although the oil inventory counts have been rising of late,Keep in mind that opec and many oil producers are looking to cut production hence shorting oil at any point will be risky its safer to only look for buys and ride the big hedge funds expectations. Cad will also see some strength since the cad economy is highly dependent on oil
FX_IDC:USDWTI
by collinsweball
USDWTI LONGHello guys, In this video i validate my reasoning for why i am looking for longs on wti. I have been in a long from last week and i intend to continue with that biased this week based on fundamentals. Oil has been extremely weak and with Libya, Iran and Oman all endorsing cutting oils production to counter the lack of demand thats been brought about by the corona virus i see oil price as being at a prime buy at 50 although 49.50 also offers a prime buy price. With the oil price likely to shoot up cad will follow suit and gain some strength .We are now just waiting for opec to reduce oil supply. The current price level is a weekly support level that we can see a flood of investors buy since it offers a good level to get into the market.
FX_IDC:USDWTI
by collinsweball
USDWTI shorter term LONGAnalysis: I've seen USDWTI trade out of its downward channel (reversing from a significant 2hr level) It has currently created/in the process of creating, its wave 1 Hypothesis: I am looking for a wave 2 pullback to the purple reversal zone where I have indicated by the blue arrow. Price should bounce from this area and create its wave 3. A bounce at this level after a abc correction should produce a impulsive wave higher (wave 3) similar to the wave 1. Risk Management: Take off half at 1:1, and move stops to Break even. Let rest ride to Target.
FX_IDC:USDWTILong
by james_007