Xti
OIL Short!head & shoulder pattern complete! (3 x bounce to top = grey, 3 x bounce to bottom = red).
Now: 4th bounce to top? No! Why?: because else the pattern wont work/exist. So now it cant be a pull to the top because before it did when we had the pattern. but now its finished so it will do the opposite => go down more! easy :)
My wife wants a new MAN... Any takers? Apply within.My wife is fed up and wants a new man... Please send me your applications... And hurry up about it as i dont want her hanging around.
From the chart we can see that this week price broke though our trend line after respecting our resistance zone yesterday, price fell out the sky yesterday afternoon the bears must have been in a hurry, but now we can see bulls taking over for a while and pushing price back up to retest our trend line which just happens to fall in our resistance zone making this a strong setup for a sell.
So we are looking for a re test of our trend line before entering.
My wife wants a new MAN... Any takers? Apply within.My wife is fed up and wants a new man... Please send me your applications... And hurry up about it as i dont want her hanging around.
From the chart we can see that this week price broke though our trend line after respecting our resistance zone yesterday, price fell out the sky yesterday afternoon the bears must have been in a hurry, but now we can see bulls taking over for a while and pushing price back up to retest our trend line which just happens to fall in our resistance zone making this a strong setup for a sell.
So we are looking for a re test of our trend line before entering.
My wife's sisters leaky tapMy wife said i should spend less time around her sisters ( ive told her this leaky tap is a bugger to fix.. its been dripping for 2 months now and i still cant fix it ) ;p
Anyway enough about my marriage issues and lets take a look at oil... After a couple of days of bearish movement from market open this week price finally went into some consolidation today finding support at 56.00 area where the bulls took over pushing price higher.
Now the next area of interest and possible resistance would be where price meets our trend line, a bounce off this level will produce more bearish movement whereas a break of this level could see price push much higher.
So this is not a signal but something to keep your eye on and action your own trade.
Anyway im off round the wife's mothers now, apparently theirs something wrong with her boiler... i will keep you updated.
FREE OIL TRADE.Oil has broke 2 key support levels today and shows no sign of slowing down, we are on a slight pullback at the moment and price has already touched our resistance level ( purple line ) we can see a retest of this level again before price makes further bearish movement and hits our next key level that has been used as previous strong resistance.
You can enter this trade now and place your SL just above our resistance level or you can wait for a retest... it all depends what type of trader you are as we might not get a re test and might just sink again.
Once price reaches our target zone we will re evaluate the markets to see if we will be adding short positions or exiting the markets.
USOIL - XTIUSD - Short OpportunityUSOIL is unable to push higher up. It has a weak foundation as support and we can expect it to drop further down below to find a good support before continuing its long term bullish trend, if still strong.
Leave your SL above the last high for enough space to move before the breakdown below.
Weekly Evening Star In case of Evening Stars in 72 percent of cases trend reverse. Ranks 10th among reversal patterns. Here we have it off an important monthly level, also off upper Bollinger band. Target after Fib extension (coincides with Bollinger band and daily Fib level).
