Directly empty, ready to plummet to the 80 line
Crude oil is about to plummet to the 80line, if you have any questions, come to me, it is so domineering
Crude oil’s daily line is obviously in the trend of multiple tops, at least a quadruple top. Every time it rushes to around 82, and then is suppressed strongly. At the same time, there is a waterfall downward, and the Bollinger Bands have closed. already empty
Usoillong
Join the oil rally as WTI surpasses $90!Discover why the oil market is making waves and how you can ride the wave of this exhilarating rally!
Attention, traders! Brace yourselves for some exciting news that will have you itching to jump into the oil market. The oil rally is gaining steam, and it's time to seize this golden opportunity!
The recent surge in oil prices has sent shockwaves through the market, and it's time for us to capitalize on this upward trend. The energy sector is buzzing with optimism, and the time is ripe to consider a long position in oil. So, let's dive into the details and explore the reasons behind this exhilarating rally.
Reasons Behind the Oil Rally
Global Economic Recovery: As economies worldwide rebound from the challenges of the pandemic, the demand for oil has skyrocketed. Industries are reviving, travel is resuming, and this surge in economic activity is fueling the need for energy. It's an ideal scenario for oil traders like us!
Supply Constraints: OPEC+ and other major oil-producing nations continue to maintain production discipline, ensuring a controlled supply of oil. This strategic move, coupled with reduced investments in new oil projects, has created a supply-demand imbalance that's favoring higher prices. It's the perfect storm for a sustained rally!
Geopolitical Factors: Geopolitical tensions and conflicts in oil-rich regions have intensified, raising concerns about potential disruptions in supply. Such uncertainties often drive oil prices higher, providing us with ample opportunities to profit from this market volatility.
The Call-to-Action: Join the Oil Rally!:
Now, here comes the exciting part - the call to action! I encourage you to consider taking a long position in oil and ride the wave of this oil rally. By capitalizing on this upward momentum, we can potentially secure significant gains in the coming months. Timing is everything, and this could be the golden opportunity we've been waiting for!
Remember, successful trading requires careful analysis, risk management, and staying informed. Keep a close eye on market developments, leverage technical indicators, and adapt your strategy accordingly. As always, it's crucial to consult with your financial advisor or conduct thorough research before making any investment decisions.
Embrace the Bullish Phase and Thrive in the Oil Market!
So, let's embrace this bullish phase with enthusiasm and embark on a profitable journey together. The oil rally is calling, and I can't wait to see you thrive in this exciting market! Get ready to ride the wave of the oil rally and secure your spot on the road to prosperity.
“Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble." - Warren Buffett
WTI Crude Oil 4H (Pivot Price:86.08)
USOIL
stabilizing above 86.08 ill support rising to touch 88.11 then 90.43 then 92.19
stabilizing under 85.00 will support falling to touch 82.96 the 81.14
Pivot Price: 86.08
Resistance prices: 88.11 & 90.43 & 92.19
Support prices: 82.96 & 81.14 & 78.21
timeframe: 4H
il Data Reveals a 3 Million Barrel Shortfall on Saudi CutBrace yourselves for some exciting news from the oil market that might just make your day. Recent data analysis has uncovered a significant shortfall of 3 million barrels in Saudi Arabia's oil production cut. This revelation presents a golden opportunity for us to make some smart moves and potentially profit from a bullish oil market. So, let's dive right in and explore why it's time to long oil!
Unveiling the Shortfall:
In a surprising turn of events, the latest oil data has exposed a notable discrepancy in Saudi Arabia's oil production cuts. As we know, the Kingdom has been at the forefront of OPEC+ efforts to stabilize oil prices by curbing production. However, it appears that their output reductions have fallen short by a staggering 3 million barrels. This revelation has sent shockwaves through the market, opening a promising window for us to capitalize on this situation.
Seize the Opportunity:
Now, you might be wondering, "What does this mean for us as traders?" Well, my friends, this shortfall in production can have a profound impact on the global oil market. With demand steadily recovering and supply struggling to keep up, we can expect a surge in oil prices soon. This presents an ideal opportunity for us to take advantage of a bullish market and potentially reap substantial profits.
Call-to-Action: Long Oil Today!
So, how can we make the most of this exciting turn of events? It's simple, my fellow traders – it's time to long oil! By strategically positioning ourselves in the market, we can potentially ride the wave of rising oil prices and secure significant gains.
Here are a few steps to get you started:
1. Conduct thorough research: Dive deep into the oil market's current dynamics, keeping a close eye on supply-demand trends, geopolitical factors, and any other relevant news that might impact oil prices.
2. Develop a solid trading strategy: Craft a well-thought-out plan that aligns with your risk appetite and investment goals. Consider factors such as entry and exit points, stop-loss orders, and profit targets to maximize your gains.
3. Stay updated and flexible: The oil market can be volatile, so it's crucial to stay informed about any new developments or shifts in the market landscape. Be ready to adapt your strategy accordingly to make the most of emerging opportunities.
4. Leverage reliable trading platforms: Utilize trusted trading platforms that offer real-time data, advanced charting tools, and competitive spreads to execute your trades efficiently and effectively.
Conclusion:
Traders, the oil market is buzzing with potential, and the recent data revealing a 3-million-barrel shortfall on Saudi Arabia's production cut is a game-changer. By long oil today, we position ourselves to capitalize on the upcoming surge in prices and potentially secure substantial profits. So, let's embrace this opportunity with enthusiasm and make the most of a bullish oil market. Happy trading, and may the profits be ever in your favor!
USOIL - Expect retracement ✅Hello traders!
‼️ This is my perspective on USOIL.
Technical analysis: Here we are in a bullish market structure from daily perspective, so I am looking for long. I want price to make a retracement to fill the imbalances lower and then to reject from bullish order block.
Like, comment and subscribe to be in touch with my content!
Is WTI US oil upper resistance of $94 peak price? I am reaching out to discuss the recent developments in the US WTI oil market and shed some light on its potential to hit the upper resistance level of $94. As cautious investors, we must closely monitor this situation and make informed decisions regarding our oil investments.
Over the past few weeks, we have witnessed a steady rise in oil prices due to various factors, such as increased global demand, geopolitical tensions, and supply constraints. As a result, US WTI oil has been steadily climbing, approaching a critical resistance level of $94.
While it is essential to acknowledge the possibility of oil prices reaching this upper resistance level, we must approach the situation with caution. Several factors could influence the market dynamics, potentially causing a reversal or a temporary halt in the upward trend. It is essential to consider these factors before making any investment decisions.
Therefore, I encourage you to closely monitor the developments in the oil market, paying attention to critical indicators such as supply and demand dynamics, geopolitical events, and economic data. By staying informed and conducting a thorough analysis, we can make well-informed investment choices that align with our risk tolerance and investment objectives.
Considering the current situation, I emphasize the importance of diversification in our portfolios. While oil investments can be lucrative, we must not overly concentrate our holdings in this sector. Diversifying across asset classes and industries can help mitigate risks and ensure a well-rounded investment strategy.
Lastly, I invite you to join me in regular discussions and forums to exchange insights and share valuable information about the oil market. By collaborating and leveraging our collective knowledge, we can make more informed decisions and confidently navigate the market.
In conclusion, let us remain cautious and vigilant as we observe the US WTI oil market approaching the upper resistance level of $94. By closely monitoring the situation, conducting a thorough analysis, and diversifying our portfolios, we can position ourselves for potential opportunities while managing risks effectively.
Thank you for your attention, and I look forward to engaging in fruitful discussions with you all.
Has Oil Price Reached Its Peak as Demand Weakens?Today, I would like to draw your attention to an important question that has been lingering in the minds of many: Has the price of oil reached its peak as demand begins to weaken?
As we all know, the global oil market is susceptible to various factors, including geopolitical tensions, economic fluctuations, and, most recently, the ongoing COVID-19 pandemic. Over the past year, we have witnessed unprecedented volatility, with prices plummeting to historic lows and staging a remarkable recovery.
However, recent indicators suggest that oil demand is showing signs of weakening, thereby raising concerns about a potential peak in oil prices. Several factors contribute to this observation:
1. Shift towards renewable energy: Governments worldwide are increasingly committed to reducing carbon emissions and transitioning to cleaner, more sustainable energy sources. This shift will likely impact long-term oil demand as renewable energy technologies gain traction and investment.
2. Slow recovery from the pandemic: Despite progress in vaccination campaigns, the global recovery remains uneven. Ongoing restrictions, travel limitations, and remote work arrangements continue suppressing oil demand, particularly in the transportation sector.
3. Emerging energy alternatives: The rapid advancements in electric vehicles (EVs) and the growing infrastructure to support them pose a potential threat to oil demand. As EV adoption accelerates, especially in major economies, the impact on oil consumption could be substantial.
While it is essential to acknowledge these trends, I emphasize that predicting the future trajectory of oil prices is inherently challenging. Complex market dynamics and unforeseen events can quickly alter the landscape. Therefore, caution should be exercised when making investment decisions.
In light of these developments, I encourage you to pause and reassess your long positions on oil. Diversifying your portfolio and exploring alternative investment opportunities that may offer more stability and long-term growth potential is crucial. You can position yourself in the changing energy landscape by staying informed about emerging trends, such as renewable energy, EVs, and other innovative technologies.
As always, thorough research, risk assessment, and a well-informed strategy are paramount in navigating these uncertain times. Stay vigilant, keep a close eye on market developments, and consider seeking advice from industry experts to make informed decisions.
Should you require any further insights or have specific queries, please comment to reach out. We are here to support you in making well-informed investment choices.
USOIL WEEKLY TRADE IDEAhi all
Since Saudi Arabian oil output was expected to be reduced on August 28, the price of US oil has been rising steadily for four days.
Not only will the US economy be impacted by this oil decrease, but also the primary currency. The CPI is approaching, and the FED announced a raise 0.25 bps at its meeting in September.
So, from a technical standpoint, I expect a pullback around 38 - 50 fibo retracement before continuing long oil until cpi and fomc.
Let me know what you think In the comments!
**My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills**
Thanks a lot for your support
WTI Will return to the recent high of 84.87
The current global economic outlook makes many bullish investors apprehensive, but there are two factors that will cause bullish investors not to change their minds.
1. The United States has reduced the number of drilling rigs for nine consecutive months, and Saudi Arabia may extend its production cut plan, which will lead to a constant shortage of crude oil.
2. U.S. fuel futures rose to a seven-month high.
Once it returns to around 81.22 on the 21-day daily moving average, it will revisit the recent high of 84.87
Oil Price Advances Await OPEC+ Supply DecisionIntroduction:
Attention all traders! Exciting times lie ahead as the oil market anticipates the next move from the OPEC+ supply alliance. With recent price advances and favorable market sentiment, now is the perfect opportunity to seize the moment and consider a long position in oil. In this article, we will delve into the current state of the oil market, explore the factors driving price advances, and present a compelling call to action for traders looking to make the most of this promising situation.
The Current State of the Oil Market:
In recent months, the oil market has witnessed a remarkable price recovery, bolstered by global economic reopening and increased demand. The OPEC+ alliance, comprising major oil-producing nations, has played a pivotal role in stabilizing the market through supply adjustments. As traders, we eagerly await their next move, which is expected to impact oil prices substantially.
Factors Driving Price Advances:
Several factors have contributed to the recent oil price advances, igniting excitement among traders. Firstly, the booming global vaccination campaigns have led to a resurgence in economic activity, particularly in the transportation and manufacturing sectors. This surge in demand has resulted in a gradual drawdown of global oil inventories, further tightening the market.
Secondly, geopolitical tensions and supply disruptions have added fuel to the fire. Events such as conflicts in vital oil-producing regions, weather-related disruptions, and unexpected outages have put additional pressure on oil supplies, creating a bullish environment for traders.
Call-to-Action: Long Oil Now!
Now, more than ever is the time to consider a long position in oil. The confluence of positive market sentiments, increased demand, and potential supply constraints presents an opportunity for traders to capitalize on potential price gains. By taking a long position in oil, you align yourself with the current market dynamics, positioning yourself for potential profits as prices advance.
However, conducting thorough research and analysis is crucial before making any trading decisions. Stay updated with the latest news and developments surrounding OPEC+ decisions, global economic indicators, and geopolitical events that can influence oil prices. Utilize technical analysis tools and consult expert opinions to make informed trading choices.
In conclusion, the oil market is witnessing an exhilarating period as traders eagerly anticipate the next move from the OPEC+ supply alliance. With price advances and bullish market sentiments, now is the time to consider a long position in oil. Seize this opportunity, conduct thorough research, and make informed trading decisions to maximize your potential profits. Get ready to ride the wave of oil price advances and make your mark in the trading arena!
Remember, oil trading is highly volatile and requires careful consideration. Exercise caution and implement risk management strategies to protect your investments. Happy trading!
(Note: This article is for informational purposes only and does not constitute financial advice. Traders should research and consult with professionals before making investment decisions.)
USOIL 4H (Pivot Price: 81.38) Hello, Crude oil price shows new positive trades to support the continuation of the expected bullish trend on the intranet basis,
stabilizing above 81.38 ill support rising to touch 82.97 then 83.72then 84.70
stabilizing under 81.38 will support falling to touch 80.51 the 79.28
Pivot Price: 81.38
Resistance prices: 82.97 & 83.72 & 84.70
Support prices: 80.51 & 79.46 & 78.28
timeframe: 4H
❤️Please, support my work with like, thank you!❤️
Navigating Oil Price Rises as Supply Tightens and China PMI Edge
Introduction:
As the global economy gradually recovers from the pandemic-induced slump, a combination of factors has led to a tightening of oil supply, resulting in a notable rise in oil prices. Coupled with China's Purchasing Managers' Index (PMI) showing signs of improvement, the time might be ripe for investors to consider long positions in oil. In this article, we will delve into the reasons behind the oil price surge the impact of China's PMI on the market, and provide a call-to-action for those seeking investment opportunities in the oil sector.
Understanding the Supply Tightening:
One of the primary factors driving the recent surge in oil prices is the tightening of supply. The Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, have been implementing production cuts to stabilize the market. These cuts and the ongoing global economic recovery have gradually reduced oil inventories, causing prices to climb.
China PMI and its Influence:
As the world's second-largest oil consumer, China is crucial in shaping global oil demand. The country's PMI, a key economic indicator, provides insights into the health of its manufacturing sector. As China's PMI edges higher, it suggests increased industrial activity and, subsequently, higher oil demand. This positive trend in China's PMI can potentially contribute to further price appreciation in the oil market.
Call-to-Action: Long Oil
For investors seeking potential opportunities in the oil market, now might be an opportune time to consider long positions in oil. As supply tightens and China's PMI shows improvement, the market dynamics appear favorable for potential gains.
However, it is essential to approach oil investment cautiously and conduct thorough research before making any decisions. Here are a few key points to consider:
1. Diversify Your Portfolio: While oil investment can be lucrative, it is crucial to maintain a diversified portfolio to mitigate risks. Allocating a portion of your investment to oil can help balance your overall portfolio and potentially enhance returns.
2. Stay Informed: Keep a close eye on global oil market trends, geopolitical developments, and economic indicators like China's PMI. Staying informed will enable you to make informed decisions and seize opportunities as they arise.
3. Consult a Financial Advisor: If you are unsure about navigating the complexities of the oil market, seek guidance from a qualified financial advisor. They can provide personalized advice based on your investment goals and risk tolerance.
Conclusion:
As supply tightens and China's PMI edges higher, the oil market presents potential opportunities for investors. By understanding the factors driving oil price rises and staying informed about market dynamics, investors can potentially make informed decisions to benefit from this upward trend. However, it is essential to approach oil investment cautiously and seek professional advice if needed. With careful consideration and prudent investment strategies, long positions in oil may prove advantageous for those seeking to diversify and capitalize on the current market conditions.
Oil Moves Up as China Extends Support to Boost EconomyIntroduction:
In a positive turn of events, the global oil market has witnessed a significant uptick as China, the world's largest importer of crude oil, continues to implement measures to bolster its economy. This development has injected a sense of cautious optimism among traders, who now have an opportunity to capitalize on the upward momentum. In this article, we explore the recent support from China and provide a call to action for traders to consider loading up on oil slowly and conservatively.
China's Economic Support:
China's commitment to revitalize its economy has been the driving force behind the recent surge in oil prices. The nation's robust economic recovery plan, including increased infrastructure spending and a boost in domestic consumption, has instilled confidence in the oil market. As China's demand for oil rises, traders can anticipate a positive impact on prices.
The Impact on Global Oil Prices:
China's unwavering support for its economy has a ripple effect on the global oil market. As the nation's demand for oil escalates, it creates a favorable environment for prices to climb steadily. This upward trajectory can be seen as an opportunity for traders to enter the market and potentially reap the benefits of this positive trend.
Call-to-Action: Load Up on Oil Slowly and Conservatively
While the recent developments in the oil market are encouraging, traders must exercise caution and adopt a conservative approach. Here are a few key considerations to keep in mind:
1. Analyze Market Trends: Before making investment decisions, carefully analyze market trends, supply-demand dynamics, and geopolitical factors that may impact oil prices. Stay informed by following reputable news sources and consulting expert opinions.
2. Diversify Your Portfolio: To mitigate risks, it is advisable to diversify your investment portfolio. Allocate a portion of your resources to oil while maintaining a balanced approach across various sectors and commodities.
3. Set Realistic Targets: Establish realistic profit targets and risk management strategies. Avoid succumbing to the temptation of quick gains, as oil prices can be volatile. A gradual and measured approach will help you navigate potential market fluctuations.
4. Stay Informed: Continuously monitor global economic indicators, geopolitical developments, and policy changes influencing oil prices. Being well-informed will enable you to make informed decisions and adjust your strategy accordingly.
Conclusion:
China's commitment to supporting its economy has breathed new life into the oil market, offering traders a window of opportunity. However, it is crucial to approach this opportunity with caution and a measured mindset. By following a conservative investment strategy, analyzing market trends, diversifying portfolios, and staying informed, traders can benefit from the current upward trend in oil prices. Remember, slow and steady wins the race.
Call-to-Action: Embrace this cautious optimism and consider loading up on oil slowly and conservatively regarding the considerations above. By doing so, you can align your investment strategy with the positive market sentiment and potentially capitalize on the upward movement in oil prices.
Get Ready for an Epic Rise: Oil Prices Set to Soar to $300!
I will reveal a scenario that could send shockwaves through the market and skyrocket oil prices to an unprecedented $300 per barrel!
In recent months, we have witnessed a series of events that have set the stage for an extraordinary rise in oil prices. The global economy is experiencing extreme inflation, with prices soaring. As a result, we are on the verge of witnessing a perfect storm that could send the value of oil through the roof.
You might be thinking, "Why should I care about this?" Well, my friends, this is an invitation to seize an opportunity that could transform your trading portfolio. So, fasten your seatbelts and prepare to embark on an adrenaline-fueled journey of epic proportions!
Here's the deal: Rising extreme inflation is causing the value of currencies to plummet, leaving investors scrambling for a haven. And what better haven than the black gold itself? Oil has historically been a store of value during times of economic uncertainty, and this time is no different.
As the demand for oil rises, driven by the need for energy in an ever-growing world, and supply constraints tighten, we are witnessing the perfect storm brewing. It's like a pressure cooker waiting to explode; oil prices will surge to unimaginable heights when it does.
So, what's the call to action, you ask? It's simple: Long oil! Position yourself to ride this wave of opportunity before it's too late. Don't let this thrilling chance slip through your fingers. Take action now and secure your position in the oil market.
Here are a few steps to get you started:
1. Conduct thorough research: Dive deep into market trends, economic indicators, and geopolitical factors that could impact oil prices. Knowledge is power, and being well-informed will give you an edge in this exhilarating journey.
2. Develop a solid trading strategy: Craft a well-thought-out plan that aligns with your risk tolerance and investment goals. Consider entry and exit points, stop-loss levels, and potential profit targets.
3. Leverage trading tools: Equip yourself with cutting-edge trading platforms, technical analysis tools, and real-time market data. These resources will help you make informed decisions and stay ahead of the curve.
4. Stay updated: Keep a close eye on global economic news, oil production reports, and market-moving events. Knowing the latest developments will enable you to adapt your strategy accordingly.
Remember, trading is not for the faint-hearted. It's for those who crave excitement, thrive on challenges, and are willing to take calculated risks. The potential rewards that await in the oil market are enormous, and it's time for you to seize this golden opportunity.
So, fellow traders, gear up, embrace the thrill, and embark on this exhilarating journey to long oil. Together, we can ride the wave to unimaginable profits!
Wishing you adrenaline-pumping trades and boundless success,
Oil Is Going To $300 A Barrel (forbes.com)
USOIL:Trading strategy
Oil fluctuated a lot last Friday, rising to 80.4, then fell under resistance, but finally rose again.
All when the oil falls to support, we can try to buy.
Usoil Today's trade building:
Usoil:buy79.2-79.6 TP:80.4-81
If you don't know how to trade yet, join me and learn how to trade, or let me guide you in trading.
Crude oil prices reverse, or will launch a month-end sprint
Although the U.S. economic S&P global PMI and durable goods orders were weak last week, these did not dampen growth prospects. The Atlanta Fed’s GDPNow model predicts that the U.S. GDP growth rate in the third quarter will reach 5.9%. Federal Reserve Chairman Powell also said at the central bank's annual meeting that "the U.S. economy is stronger than expected." Both the markets of China and the United States have seen positive changes, which is undoubtedly an important driving force for the stabilization and upward movement of WTI crude oil prices. In the short term, there are other supply concerns that boost oil prices. For example, some predictions that Saudi Arabia will further extend voluntary production cuts until October are circulating in the market, and the possibility of tropical storms affecting the short-term crude oil production capacity of the United States also supports oil prices.
The four-hour chart shows that WTI crude oil prices stabilized and rebounded around 78 last week, and have now completed a bullish wedge-shaped reversal, which means that the downward trend from the August high has ended, and oil prices may turn upward. If it meets expectations, the initial upward target of WTI crude oil price will look at the 81.50-82 area, and the further upward target is also the more important resistance in the 83-84 area. If this resistance area is broken, the trend will gain a wider upward space.
And if it falls back in the short term, focus on the support of the 79-80 area. Holding this support area will maintain a bullish outlook. If it falls back to the inside of the wedge, the bullish outlook will be invalidated.
Factors Behind Rising Oil Prices: A Call-to-Action for ConsciousThe oil market is heating up, and it's time to seize this golden opportunity. The recent surge in diesel prices, a decline in oil rigs, and a refinery fire in Louisiana have caused oil prices to skyrocket. This is your chance to make a bold move and long oil!
First off, let's talk about the surge in diesel prices. Diesel prices have been climbing steadily, which has significantly impacted oil prices. Diesel is a crucial fuel for the transportation and industrial sectors, and its increased demand has put pressure on the oil market. As diesel prices continue to rise, so do the prospects for oil prices.
Adding fuel to the fire, we have witnessed a decline in oil rigs. With fewer rigs in operation, oil production has been affected, leading to a decrease in supply. As the saying goes, when supply dwindles, prices soar. This decline in oil rigs has created a perfect storm for oil prices to rise even further.
But that's not all! A recent refinery fire in Louisiana has exacerbated the situation. Refineries are vital in transforming crude oil into various petroleum products, including gasoline and diesel. The disruption caused by the fire has reduced refining capacity, leading to a tighter supply of oil products. As a result, oil prices have shot up, presenting an incredible opportunity for traders like you.
Now, here comes the call to action! It's time to take advantage of this exciting market scenario and long oil. By going long, you'll be betting on the continued rise in oil prices. This is your chance to make a profitable move and ride the wave of this upward trend.
But remember, trading involves risks, and it's crucial to do your due diligence and consult financial experts before making investment decisions. Stay updated on market trends, monitor news related to the oil industry, and keep a close eye on economic indicators that can impact oil prices.
So, traders prepare to dive into the oil market and capitalize on this incredible opportunity. Long oil and ride the wave of this price surge. The time is now, and the potential for profits is immense. Don't miss out on this exciting chance to make your mark in the oil trading world!
USOIL TRADE IDEAhi all
Fibonacci expansion reached 1.618 and I'm now looking for a correction to level $82.40 before going short again and aiming for $74.
Let me know what you think In the comments!
**My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills**
Thanks a lot for your support
Can't Find a Pattern? Make a Pattern ✂ Hello Traders,
I've identified a Cup & Handle pattern on USOIL, and I'm excited to guide you through the process I followed.
To begin, consider initiating a long trade with a target at $100.00 and a stop loss at $72.50.
Additionally, honing your pattern recognition skills is essential. Train your eyes to spot patterns by linking highs and lows based on your chosen timeframe, akin to how the zigzag indicator functions.
Subsequently, streamline the lines by connecting the highs and lows of the swing direction, while marking pivotal price points.
Now, link the pivoting points with the endpoints of the lines. As you take in the broader picture, you'll realize we've crafted both a cup 🥤 and handle ☕ pattern.
Proceed by drawing a trend line, establishing your target, and then awaiting the breakout.
Your insights and thoughts are most welcome.
Warm regards,
USOIL LONG SWING TRADE SETUPHey folks!! welcome to another week filled with opportunities. First on the menu is USOIL LONG swing set up. The pair has been trending up and recently had multiple break of structures on the daily and 4HR time frames. After making higher highs, price has now delivered lower into the demand level that caused this break of structures.
Price has now started to deliver back up after tapping into this Point of interest (POI) with multiple confluences indicating a move back up. Intra-day structure is now bullish on the 4 hour time. Our first target will be 84.83 and will be looking to partial out here possibly to hold a fraction of the trade to continue delivering higher.
Make sure to practice good money and proper risk management on all your trades.