Usoilshort
USOIL_SHORT USOIL price will continue droping the next week after the pullback that happend these days, we've see that price has retasted the previuos area of demand and it turned into an offer area, also we've detected a bearish diverence in RSI, so, the pullback has ended and now is the turn for the bears to take over the market.
💡Don't miss the great Sell opportunity in USOIL!Hi dears
It seems that due to the revival of the JCPOA with Iran, and the entry of Iranian oil into the world markets, we will witness a drop in oil prices in the coming days. From a technical point of view, we should pay attention to the red trend line, whenever it is broken, the probability of oil fall increases.
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USOIL is in sell area!!USOIL (4H) is currently approaching to test the neckline of 4H head & shoulder. It is high probability that the price will have a rejection as we already have seen strong rejection from this important area of value with long bearish engulfer.
As the long-term trend is down, it is a high probability that the price will continue to drop as daily has a strong bearish price action as well
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USOIL where to sell?USOIL has formed a strong bearish price action on a daily and higher timeframe. In the 4H timeframe, we see a significant expected retracement to the upside. Price is now currently approaching this important level of resistance. Upon rejection and price action confirmation, a selling opportunity may arise.
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USOil forming a h&s pattern. PossiblyH&S pattern is a possibility now because it did not get above 94.3 level and it rebounded quickly just before European session. The left shoulder has formed and head is in the process. History shows that double tops and h&s work really well for USOIL. Half an our till market opens and it might go just as planned because there are no significant news that could skyrocket the price to 96.
USOIL ! reversed to bullish sign long trade analysisUSOIL is headed for a strong bearish trend there is sign that this downtrend may be over. While earlier bullish, oil neared the 100 EMA, rejected strongly and down. But this time, the oil broke the 100 EMA and moved very strongly bullishly. Oil is currently trading at a level it previously strongly rejected. If can break this level and show growth, you can make a profit on long trades.
USOIL MARKET BREAKDOWNUSOIL MARKET BREAKDOWN
Last week was the stuff of dreams with USOIL pulling through for insane pips, GOLD pulling through for insane pips and GBPUSD giving us a modest bag!
As stated last week were are simply following the USOIL down trend and it's working out nicely so far. USOIL dropped down to our bottom zone before pulling back, we did try to long this but after confirmation we couldn't get that little bit more of a dip which we needed. I have marked out the important zones for this week and it's important to note that $94.50 has been tested so many times on this timeframe and multiple others so I don't see another retest within this next leg down.
Look at the very left of the chart on the white line. We can see this area actually acted as a decent support region but since we broke from it price hasn't really reacted much with this level so I would expect this to be the next zone we see resistance.
As always USOIL can drop from the current zone and it rejected hard from $91.80 which makes me slightly sceptical of a push higher but my behind the curtains strategy is point towards $92.70-$93.30 as the true rejection region (I ALWAYS STICK TO WHAT MY STRATERGY TELLS ME).
I'm sitting, watching and waiting for my time to strike.
⁉️ USOIL - Market AnalysisHello traders!
⁉️This is my analysis on USOIL .
Here we are in a bearish market structure, so I am looking only for shorts. I expect bearish price action from here as price rejected from psychological level 92.00 + FIBO OTE level (0.705). My target is sell side liquidity.
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Joe Gun2Head Trade - Expecting lower prices on OilTrade Idea: Selling Oil
Reasoning: Looks set for lower prices
Entry Level: 92.38
Take Profit Level: 88.74
Stop Loss: 93.31
Risk/Reward: 3.97:1
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USOIL MARKET BREAKDOWNUSOIL MARKET BREAKDOWN
USOIL had it's bullish pullback last week which took full advantage of and we now have a nice little trade running.
Someone left a comment on my last post asking if it was possible to drop straight down instead of pulling back, this was a great and valid question. This person was correcting in mentioning that and my simple answer is plan for both scenarios and stick to the most profitable option. If the trade isn't profitable, low risk and doesn't meet every demand of your strategy and analysis then DO NOT TRADE IT.
The zones marked on the chart are the only zones I'll be interested in trading. USOIL is bearish so we now favour the short for overall trades and only look to longs for a quick scalp. We mentioned a while ago that USOIL was climbing too hard and too fast which was a major driver of inflation. We said the price of USOIL would have to come down to let the markets breathe before the next leg up. Unless Russia kick off big time then USOIL should be making it's way to $76 which is where I would look to load up on swing longs.
Now lets focus on this week:
Are broken and major support region has now been retested and closed below which is a good sign for our trade. I will not rule out one more retest or at a minimum a spike to $93.60 before we see the drop off. I look to carry this short all the way down to the bottom blue zone this week with around 900 pips profit as our target.
Anything above $94.50 I will class as manipulation and I wouldn't short again until we were below UNLESS a good set up gave reason to short before.
Members have been guided through this and are now sat in 280 pips profit!