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Crude Oil (WTI) (FX:USOIL)

FX:USOIL Crude Oil (WTI)

Hi there, I think my question is do you think there's a bounce back to 48.X and even higher at current price level (46.X)? I think oil is still in a correction triangle, but not very confident

mumuyang2

It depends if we break the lows or not
If not then yes if we do then it's 50% to 50%

Hi, a question, if I may?
could one combine price action strategy and ichimoku or its better not to? I understand different traders have different styles but whats your take on it?
Thanks

Ifti367

Hi

ichimoku IS price action
that is why it is the perfect trading tool

Ichimoku_Trader

sorry, I meant support and resistance...for example after it breaks out of the Kumo (up or down) it defines only one direction (buy or sell) but we still do not know when its going to turn (up or down) unless we have support or resistance levels.
Am I missing something?
Thanks

Ichimoku_Trader

I guess I deleted my reply :(

I said "Sorry, I meant combining support and resistance, for example, if an instrument breaks out of Kumo (up or down) we trade it but to determine the TP or to understand the change of trend we would have to wait for the instrument to break again (up or down) again. As per my understanding of Ichimoku it does not provide that information. Am i missing something?

Thanks

Ifti367

In trends, trend traders don't see resistance when they go up and don't see support when they go down
In ranges, ichimoku provides everything for you including S&R

Ichimoku_Trader

Thank you. You are the best.

Ifti367

thank you

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