Usoilanalysis
USO: Rubber BallLike a rubber ball, USO has bounced off the green zone between $77.92 and $79.69 twice and finished wave 5 in green. We now expect it to jump a bit higher still to finish wave ii in orange before dropping down until the support line at $67.68. There, it should rebound to complete wave iv in orange and resume the overarching downward movement afterwards, which should lead into the turquoise zone between $60.18 and $43.48. There is a 30% chance, though, that USO could jump above the resistance at $87.83, thus continuing the ascent instead.
WTI Cude (OIL) SELL TRADE IDEA
Hello Traders, here is the full analysis for this pair,
let me know in the comment section below if you have any questions,
the entry will be taken only if all rules of the strategies will be
satisfied. I suggest you keep this pair on your watch list and see if
the rules of your strategy are satisfied.
Dear Traders,
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USOIL MARKET OVERVIEW Good evening everyone;
We stood off WTI this week and let it run it's course, we got caught out a few times last week trying to take some trades but they don't always work out. WTI has completely broken it's short to mid-term structure and I only think thinks it's pulling back due to weekly closures. I believe that WTI we continue bearish but the overall bullish trend can't be prevented. I am still targeting $185 a barrel which I think we will get the next leg for once we have the long term trend correction.
Governments are trying to resolve the energy crisis which is being heavily influenced by the price of USOIL. I believe OPEC will make attempts to increase the number of active rigs and output in an attempt to drive WTI down (which it will) BUT only temporarily. This is a train which will not stop until inflations clams down but we're only just getting started.
We warned of inflation, recession and market crashes before it even hit your mainstream media screens.
Two possible movement right now (LONG/SHORT)for breaking the wedge trendline i believe it will likely go up
but downside still not out of the picture yet, there's still possibility
check out my previeous ideas several days ago about where the oil heading.
CMIIW or if u have other opinion we can discuss it
USOILHello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
The way I told you, you have to trade like this and you will have more profit always and you will not be a loss.
LONG USOIL ✅✅✅Hello traders!
✅ This is my trade on USOIL.
Here we are in a bullish market structure on a higher timeframe, so I am looking only for longs. After the consolidation phase the price broke the range and took out sell side liquidity from old lows and rejected from bullish orderblock. My targets are imbalances above that have to be filled.
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usoilIf 5 waves are in off the march 2020 lows during the covid crash then we topped around $130. We should now correct the entire move in the ABC which looks like a Flat because wave A was very shallow. This means that as long as wave B is in already then Wave C should be 5 waves down and test the golden fib ratio around $58. As the ABC reveals itself I would expect it to be not very neat and clean as I am forecasting today and probably develop into a very complex double or even triple correction to wipe out all the bulls. So this is just a preliminary forecast. We will be looking to buy this dip with crypto win profits because after the correction to USOIL is complete we should expect a new impulsive 5 up to start and go way past $130.
June Week 4: USOIL Medium-term trend!Hi friends, I hope y'all had an awesome weekend and ready to tackle this week strong ;)
Today, we looking at a possible bearish trend here on the daily. This trend signal is derived from the monthly where the price is in the bullish half a bats L2 formation that will bounce off or retest the 8 m.a before continuing the patterns trend to its 3rd level. So we are currently anticipating a counter-trend, and when its done we'll hop on the main trend. Let us see how the bulls and bears might behave in either triggering our trade signal or dis-confirming it.
Bulls: -The price will dis-confirm our trade by forming a bullish reversal pattern that will lead the price to bullish break and retest 2nd Monthly Key Lvl (stop loss area) together with 50 m.a (light blue) and bullish crossed short-term m.a's (dark blue and red). If the price does that it will trigger the weekly's double bottoms signal and I'll share it here.
Bears: -The price will bearish drop for the head and shoulders trend together for the 200 m.a (that's visible on the Mt4 chart in white color) and short-term m.a's trend - probably after it has bullish bounced off the Daily H&S Neckline 2, 50 m.a, and bearish crossed short-term m.a's with a bearish reversal candle pattern. That will trigger what I call an "H&S A-E.3 signal".
That's it for today. I hope you found value in this. If you have a different perspective on this instrument, feel free to share it in the comments section or direct message me, I'd love to know your thoughts!
Stay Blessed,
Doji-2K1
USOIL SHORT UPDATEOn our breakdown we said we'd be looking for shorts this week and that's exactly what we did with this gem.
Perfect entry and into instant profit, we told members we expect a pullback first so this move in the market didn't come as a surprise. We will be holding this trade to just above the major support region.
DON'T MISS OUT, FOLLOW THE LINK BELOW