Downtrend ContinuationEntry was triggered around 58.80 and SL is set around 59.20. TP has yet to be determined but I do not expect support to hold should the trade go my way.
WTI (Crude Oil)
WTICOUSD came in major resistance zone.WTICOUSD came in major resistance zone. It is fibonacci 50% retracement.
OIl cleanest pattern-dropOil have , in my opinion , the cleanest form of reversal patterns, and its playng out !
We have ascending wihtin ascedning (double confirmation, stronger probability for drop )
This is definitely on my Watchlist for next week....
First target on bottom trend line , then scale-in and trail stops all the way to low where ascending started....
Even if 1$ per barrel drops, you could bank nice profits on 15 min entrys (flag continuations or something )
Long BiasOrders are accumulating and I expect the price to keep moving up until it tells me otherwise. Ideally a break below the range with signs of reversal would trigger a long position.
WTICOUSD, Continuous uptrend on H4: BUYH4:
- Structure: Uptrend
- Break resistance
- Above and pullback
-> waiting signal=> BUY
WTICOUSD TRADE SET UPThe wedge broke so expect price to move towards the two target boxes. After we hit target 1 move stop loss to break even.
WTICOUSD 6.7% correction... The wave of the exchange rate (green line) is rising, so I assume that it is moving in the long run. The slope of the ATR axis (white line) decreases, leading to corrective movement. The WTI correction level is 52 usd. I'm looking forward to testing this back.
WTICO USD SELL (WEST TEXAS CRUDE OIL - US DOLLAR)Hi there. Price is forming a continuation pattern to the downside. Watch strong price action at the current price for sell.
WTICOUSD, Continuous uptrend: BUYH4:
- Structure: uptrend
- Test trendline
- Weakening
-> Pullback
-> Waiting signal=> BUY
West Texas Oil - Bullish Trend Continues.....After a long accumulation range that end last quarter of 2018 , we saw a breakout with the price reaching the mid seventies.
This was our first indication that a trend is about to begin. The price then pulled back into the buy zone(75-87.5 fibs) and produced a buy pivot.
Good stopping volume came into halt the price as it move back to the center of the accumulation range.
In Wyckoff terms this is - "Jumping across the creek" and a "Back to the creek".
We should see price move higher, back above the mid seventies.
WTIOUSD and USOIL - Breaking Raising Wedge DownPotential Short on Crude Oil and USOIL. Target (4) or 61.8%.
OIL THOUGHTSFOMC in yellow
EIAs in light red
Still bearish AF this year but looking for perfect short
WTICOUSD possibility of ABC correction on 4H timeframeJust my opinion on the situation. I would like to trade short (scalp) trades in this direction for now.
WTICOUSD, Forecast on next weeek !OIL, D1: Waiting break => BUY
D1:
- Tendency: Strong upward
- Test resistance
- Below resistance
=> Waiting break and confirmation
==> BUY
H4:
- Tendency: Upward
- Weakening
- Below resistance daily
- Move: Channel
=> Pullback
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Thanks
WTI Road Map The last analysis gave us a practically perfect target with big profits and a life saver for an early mistake. Now we have enough information to create a guide map for the following months.
The way in which the price interacts with the "Key Zone" will be essential to maintain the validity of this analysis. If so, we could be touching at the beginning of March the cluster of 60.
We must keep an eye on the news and geopolitical movements that may influence the development of this analysis.
Best wishes to all.
