Wavetrendindicator
SandUsdt Correction predictionBefore we can continue our rally up, I am expecting a correction to happen that hits our support, or golden zone. After retesting we'll see another bullish momentum. We have a nice bearish cross on wave trend and strong resistance that was tested couple times.
UK Brent Crude Oil Analysis So, I will start with the basic Chart layout and then will continue to dive deeper in to the Analysis.
The Chart is as you can see in a downtrend. And not just on a short time frame (1-5m) also on a bigger one (1h)
The S/R level changed that means that we are on a new Trend level.
At this point UKOIL has no more in the same price movement then the USOIL As you can take out of my USOIL Analysis linked below
But still, the EW gives us a nice 0WXVXZ Pattern but in a triangular figure going downwards
The Purple Ellipse shows us a failed repriceing on the failed reversed head and shoulders located between (W) and the Purple Ellipse
Fib:
I applied the same fib i was using on my WTI analysis and as it shows out we got 3 interesting hit points
The Purple Ellipse is like i said before a failed repricing for the failed HS
No.1 is located at the 0.7 fib lvl.
No.2 is located at the 1.0 fib lvl.
No.3 is located with the closed body wick at the 0.7 fib lvl.
well if you take a look at the chart you can see that the 0.5 fib lvl. is the strongest testet fib lvl.
Now the Indicator Part:
I used the CCI and The WaveTrend Indicator with crosses by LazyBear
I numbered every type of movement in the chart
As i explained before the S/R level has changed thats why i numbered it 1 and 2
The green Ellipses on the Chart windows are the Buy areas after the Indicators that i was using
1. CCI
The CCI shows us that we are currently in a Oversold area this means that the Price will recover from the little downtrend
2. WaveTrend Indicator
This one is also used to identify Oversold and Overbought areas And like before we are Oversold
We are on the green line this means that the prise will pop up agin.
The WT sequence was perfectly 2 times tested
So If 2 indicators practically match with one signal i will strongly consider to take a look at some buy/ sell option
I will keep you guys updated whats happening with WTI(US) and Brent(UK) Oil!
Tell me what you think about this!
Well this was the end
I hope all of you liked it and do not forget to leave a review below :)
TVC:UKOIL
TVC:USOIL
How to use SqueezeMomentum, WT Oscillator IndicatorsIn the 1-hr we have Squeeze Momentum green fading and the green bars have turned gray. This suggests price may have topped and is a warning to close longs. When the bars fall to centerline, dots change color from dark to light blue, is a signal to enter short side. You can aggressively enter shorts earlier based on chart formations, other signals such as RSI overbought, or gestalt hunch, but risk is higher, as another rising price can still occur in this area.
No signal yet on WaveTrend Oscillator, short signal is generated when it gives a red button.
RSI way overbought, but can still pop higher and get more so. IMO this is a less predictive indicator, as it can stay overbought in melt-up like this.
Volume price indicator shows Point of Control at yellow line. Price often returns to POC on pullbacks, making it a target for shorts.
Not advice, just ideas for some indicators that are very useful IMO. GLTA!
