Usoillong
CRUDE OIL: Bullish Fakey SetupCRUDE OIL – Futures: Bullish Fakey Setup Triggered
Price Action: Price moved higher from the recent Bullish Multi-Bar Fakey Setup that had formed just above the $88.81 – $95.43 short-term support area, earlier this week (We suggested trading this setup in the April 12th, members' daily newsletter).
Potential Trade Idea: We are now considering buying on a retracement lower to within the range of the recent Bullish Multi-Bar Fakey Setup area.
🐂USOILOil has been in a very strong bullish trend since the start of the war between Russia and Ukraine.
Price first gave a pennant continuation which didn't play out as well as thought.
The market has now given us a double bottom which can commonly represent a bullish continuation, and in this contact it does.
We also have the confluence of the falling wedge. We should look to long and have our Targets at the prices marked in red.
USOIL LongThe price is trading within the ascending triangle with a general upward trend that gives us a signal to search for buying places in the event of breaking the trend line and closing a candle above the price 100 it will be a strong confirmation to enter a buying deal, the scenario differs in the case of going down below 90
Us Oil; Where to look longOn the recent Huge US OIL fall we can identify new Long zones to take.
For the less risk averse Traders, we are at current support and light longs can be taken..
If you are more risk averse and want a more accurate spot for longs, look to Long Zone 2 for comfortable support and new longs.
USOIL LONGS 📉📉📉📉 Expecting bullish price action on USOIL as price takes out liquidith below the weekly lows + rejects a bullish orderblock area on H4. We are bullish from a fundamental perspective in my opinion. The targets for this week if we have enough volatility would be somewhere around buy side liquidity area 109.000 old highs liquidity.
what do you think ? Comment below..
Butterfly Complete 🦋 USOIL - Nice butterfly pattern complete above strong demand, let's see what the FOMC brings, ill be looking for an accumulation on the LTF to take this long!
Let me know your thoughts!
* Disclaimer **
These ideas I never trade until the end target with my initial lots, I focused on high probable entries with higher lots and use a specific partial taking strategy giving me a very high win rate and take most of my profits very early, I only leave a small % of my capital to run the entire trade. On the flip side im constantly monitoring LTF momentum and will close early if things change, these analysis's are for research purposes only.
USOil LongThere is a daily doji indicating that liquidity needs to be taken at a double bottom, institutional traders will be looking to take out the SL's there for another push up following on from the news last week that the US may release their biggest amount of reserves in a while, 180 million barrels over 6 months. Price is starting to form a descending triangle that we expect to continue until we come to the end of that. We could see price break down after, in which case we'll take sells after a rejection off the support zone to make it turn resistance. Price could give a false breakout out of the descending triangle; hence we have TP's higher than the downward trendline. Squeeze Momentum Meter is showing that although price is coming down, there's not major volatility in the move so we can expect the liquidity grab to bring price back up.
R:R = 1:11
GL as always!
USOIL - APRIL IS REVERSALWe have analyze last 12 years of USOIL data in the month of April. The data supports bulls as 8 out of 12 times the April month give bullish closing. While 4 times bears won the battle.
The most important findout from the analysis is the behaviour of April.
April seems to be reversal or it define top or bottom. During Covid-19 crash when the futures crude oil went to negative, April defined the bottom and we see price appreciated from there.
Similarly, as highlighted on the charts with small arrows, April either defined top or prove to be a reversal point.
This year 2022, The March leaves a big wick on the sellers zone and price retracted back to 30% of the month. It is also noted that the price is trading near the strong seller zone which USOIL has unable to break since Jul 2008.
Have we seen the top and price will reverse from here?
What do you think ?