USOIL POTENTIAL SHORT
OKAY SO I MADE AN ANALYSIS ON THIS COMMODITY A COUPLE WEEKS BACK WITH A LONGER TERM VISION FOR WHAT I BELIEVE WILL BE THE NEXT BIG SWING FOR THIS COMMODITY. AFTER SEEING LAST WEEKS PRICE ACTION THERE WAS A WEAK UPWARD PUSH BY THE BUYERS FOR MOST OF THE WEEK BUT AS YOU CAN SEE PRICE FAILED TO BREAK ABOVE RECENT SELLER AT THE 59 LEVEL AREA. IT WAS FOLLOWED BY A VERY AGGRESSIVE DOWNWARD MOVE IN PRICE DISPLAYING THAT THE PREVIOUS SELLER (WHO IS STILL IN CONTROL) SEEMS TO BE INTERESTED IN CONTINUING PRICE TO THE DOWNSIDE, BASED ON MOMENTUM. THE 1H CHART DISPLAYS A GOOD RISK/REWARD RATIO SETUP IF YOU WAIT FOR A SLIGHT BUYER PULLBACK INTO RECENT STRUCTURE SUPPORT THAT WAS BROKEN ON THE 1H CHART. MAKE SURE IF THERE IS A PULLBACK THAT IT IS NOT SUPER AGGRESSIVE AND MAKE SURE ITS WEAKER MOMENTUM THAN THE RECENT SELLER PUSH. I SAY THIS BECAUSE IF THE MOMENTUM ON THE PULLBACK IS AGGRESSIVE AS WELL THERE ISN'T A DECISIVE DECISION IN THE MARKET ON WHAT THE NEXT MOVE WILL BE. KEEP AN EYE ON THIS COMMODITY AGGRESSIVE TRADERS COULD ALREADY BE SHORT BUT FOR A MORE BULLET PROOF SETUP WAIT FOR SLIGHT WEAK BUYER PULLBACK IF WE GET ONE OR HOP ON OPPORTUNITY OF CONTINUED STRONG SELLER MOMENTUM FOR MORE AGGRESSIVE ENTRY. ALWAYS MAKE SURE YOU KEEP A GOOD RISK/REWARD RATION REGARDLESS IF YOU'RE AGGRESSIVE OR NOT. BECAUSE YOU CAN BE AGGRESSIVE OR CONSERVATIVE AND STILL HAVE YOUR LOSSES LARGER THAN YOUR WINS AND THEREFORE YOU AREN'T BUILDING FOR LONGEVITY. MAKE SURE TO ALWAYS IMPLEMENT PROPER RISK MANAGEMENT AND LETS SEE HOW THIS PLAYS OUT !
CHEERS! PLEASE LIKE AND FOLLOW MY PAGE FOR MORE PROFITABLE SETUPS.
OKAY SO I MADE AN ANALYSIS ON THIS COMMODITY A COUPLE WEEKS BACK WITH A LONGER TERM VISION FOR WHAT I BELIEVE WILL BE THE NEXT BIG SWING FOR THIS COMMODITY. AFTER SEEING LAST WEEKS PRICE ACTION THERE WAS A WEAK UPWARD PUSH BY THE BUYERS FOR MOST OF THE WEEK BUT AS YOU CAN SEE PRICE FAILED TO BREAK ABOVE RECENT SELLER AT THE 59 LEVEL AREA. IT WAS FOLLOWED BY A VERY AGGRESSIVE DOWNWARD MOVE IN PRICE DISPLAYING THAT THE PREVIOUS SELLER (WHO IS STILL IN CONTROL) SEEMS TO BE INTERESTED IN CONTINUING PRICE TO THE DOWNSIDE, BASED ON MOMENTUM. THE 1H CHART DISPLAYS A GOOD RISK/REWARD RATIO SETUP IF YOU WAIT FOR A SLIGHT BUYER PULLBACK INTO RECENT STRUCTURE SUPPORT THAT WAS BROKEN ON THE 1H CHART. MAKE SURE IF THERE IS A PULLBACK THAT IT IS NOT SUPER AGGRESSIVE AND MAKE SURE ITS WEAKER MOMENTUM THAN THE RECENT SELLER PUSH. I SAY THIS BECAUSE IF THE MOMENTUM ON THE PULLBACK IS AGGRESSIVE AS WELL THERE ISN'T A DECISIVE DECISION IN THE MARKET ON WHAT THE NEXT MOVE WILL BE. KEEP AN EYE ON THIS COMMODITY AGGRESSIVE TRADERS COULD ALREADY BE SHORT BUT FOR A MORE BULLET PROOF SETUP WAIT FOR SLIGHT WEAK BUYER PULLBACK IF WE GET ONE OR HOP ON OPPORTUNITY OF CONTINUED STRONG SELLER MOMENTUM FOR MORE AGGRESSIVE ENTRY. ALWAYS MAKE SURE YOU KEEP A GOOD RISK/REWARD RATION REGARDLESS IF YOU'RE AGGRESSIVE OR NOT. BECAUSE YOU CAN BE AGGRESSIVE OR CONSERVATIVE AND STILL HAVE YOUR LOSSES LARGER THAN YOUR WINS AND THEREFORE YOU AREN'T BUILDING FOR LONGEVITY. MAKE SURE TO ALWAYS IMPLEMENT PROPER RISK MANAGEMENT AND LETS SEE HOW THIS PLAYS OUT !
CHEERS! PLEASE LIKE AND FOLLOW MY PAGE FOR MORE PROFITABLE SETUPS.
Trade active:
In pursuit of Target One. Momentum looks very good! Cheers!
Trade active:
TRADE STILL SITTING ON HOLDING ZONE.
Comment:
OIL IS MOVING WITH VERY STRONG MOMENTUM TO TARGET ZONE. ALSO SUPPORTING LONGER TERM BIAS ON THIS COMMODITY! CHEERS! OVER 300 PIPS IN PROFIT ATM
Trade closed: target reached:
Target Zone was hit! Good momentum on this. Cheers!