USOIL another HS Pattern. about to get active. forming the last leg of a M Reverse Pattern. one big Red and i'm in.
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USOIL another HS Pattern. about to get active. forming the last leg of a M Reverse Pattern. one big Red and i'm in.USOIL if we breakout to the topside. we have a triangle here as a 4th wave. another 5th wave up should appear than. so wait for a breakout of the structure patiently. as always
USOIL bigger one coming. waiting for valid retest
USOIL *Trading Tip:If you look back on your chart and see where a Swing High and Swing Low is for a session, you'll usually find that the midline (or around it) is where the consolidation can typically be found. Trends usually start at a Swing High/Low.
And, when you have, as an example, a Swing High and S&R Zone, you may notice that their midpoint (or around it) is where consolidation is happening.
Consolidation can go for days with WTI Crude Oil, so it helps to spot it on your chart right away.
USOIL do we finally get a clean HS pattern here? still waiting for a good short :)
USOIL thank you for the easy Friday grub. I’m full now. Next week should be interesting. Looks like it’s running out of fuel for now
USOIL Bullish momentum on the Hourly is starting to wane. The previous candle is a trending bar, so the potential is still there for the trend to continue, unless a reversal pattern like a Two Bar Reversal shows up. Price action is already in Overbought territory.Still watch to see if the bulls even reach and breach the Swing High of 68.90. If they do, it only reinforces the Bullish Market Bias for more moves to the upside. But if they don't, then the retracement can begin - heading for 67.42 (or around that price).
*Side Note: The chart shows a giant W-shaped pattern with a Double Bottom formed. An M-shaped pattern from the Pivot High will form next.
USOIL The blue whale is running out of krill. Hear its undulating bellow from the deep. 🐳
WTI $10 crash please
USOIL This is part of the 4HR pullback,hopefully next week she starts falling :) 65.50 still remains the target 1st TP 🎯