USO trade ideas
homework :parallel channel (bearish)As long as prices decline trade within the channel,Channels are a form of technical analysis where prices travel in a trend( bearish in this case )between two parallel lines, ALWAYS remember that both lines need to be parallel to each other.
Bulkowski Ugly Double BottomJan 22, 2016
Characteristic Discussion
Price trend Downward leading to the chart pattern. For best performance, choose patterns at the bottom of the downtrend, not as part of a congestion region in an uptrend.
Shape Looks like a double bottom with unequal bottoms. The second bottom should be at least 5% higher than the first, be similar in shape, and a consecutive minor low (no intervening low).
Volume Recedes 81% of the time
Breakout Upward when price rises above the highest high between the two bottoms.
Confirmation The pattern confirms as a valid one when price closes above the peak between the two bottoms. If price does not close above the confirmation price then it's not an ugly double bottom .
USO - Ready for the next leg higher!WTI has been consolidating in upper range of the last leg higher and forming a bull flag. Next leg will take USO up to ~$10.80 level.
USO26th July - On Watch. ADCD Setup Off D Leg. RSI Over Bought. Major SR Level at 10. Handle. If PA Holds short then 940 Put.?
Comprar ORO NEGRO!!!!!!!!!!|$USO comprar con objetivo U$s 16/17 y stop en U$s 8.
Si ejecuta la segunda pauta puede ir a U$s 35/40
USO long, 1st TP: 9.7; 2nd TP: 11Welcome to all viewers, this is my first post on this page :)
Crude oil is RSI oversold condition, with fear everywhere, while actual data didnt change for last 9 months.
Healthy correction of correction itself is possible thanks to summer months.
Lets not forget that shale industry can not breathe under 35$ for barrel, and if they want to risk BK with raising FED rates, ...yea well. Hard thing to happen. Dont fall in market fear and happy trading :)
Bullish AB=CD Bullish MAPE on USOUSO has completed the AB=CD Bullish MAPE, I'm expecting a bounce back to the .382 fib line or higher ($9.60 or so). Crude Oil Inventories Wednesday the 28th
Long USO on channel regressionLong USO if lower channel reached
Entry @ $8.80 - $9.00
Target @ $9.90
Stop @ $8.50
Oil Bounce PlayLooking for a bounce in oil after hitting (near) a 52-week low. Looking for this one to play out over the next several months. $USO
