After the "little big bang" Oil has recovered and build a sideways going channel here is some Analysis:
So as you can see here WTI has been in a sideways channel for almost two weeks
The EW gives us a nice triangular 0WXYXZ pattern
Those Ellipses are showing us a little liquidity in the downtrend this has been testet for four times now
The Fib is active when it comes to those liquidity bowls there are five major fib events on this Chart
the fib just shows us where those re-pricings are happening and what for a type they are
No.1 is located at the 0.7 fib lvl.
No.2 is located at the 0.6 fib lvl.
No.3 is located at the 1.0 fib lvl.
No.4 is located at the 0.6 fib lvl.
The last one(No.4) is a pretty strong testet level
Now to the Indicator part:
The Indicators that im using are at the first place the CCI and on 2nd place the WaveTrend Indicator with Crosses By LazyBear
Both of them are used to Indicate Oversold and Overbought areas within the Chart
1. CCI
The CCI is currently in a Oversold area this means that the Price will most likely go up again. This sequence was Strongly testet 3 Times
We also have been testet 4 times on Overbought Pricing and the Market always reacted good on those type of signals.
2. WaveTrend Indicator with Crosses By LazyBear
The WaveTrend Indicator by LazyBear is also used to identify Oversold and Overbought areas
Just like on the CCI here we are also in an Oversold area
If 2 indicators practically match with one signal i will strongly consider to take a look at some buy/ sell option
I will keep you guys updated whats happening with Oil!!
Well this was the end
I hope all of you liked it leave a review below :)
So as you can see here WTI has been in a sideways channel for almost two weeks
The EW gives us a nice triangular 0WXYXZ pattern
Those Ellipses are showing us a little liquidity in the downtrend this has been testet for four times now
The Fib is active when it comes to those liquidity bowls there are five major fib events on this Chart
the fib just shows us where those re-pricings are happening and what for a type they are
No.1 is located at the 0.7 fib lvl.
No.2 is located at the 0.6 fib lvl.
No.3 is located at the 1.0 fib lvl.
No.4 is located at the 0.6 fib lvl.
The last one(No.4) is a pretty strong testet level
Now to the Indicator part:
The Indicators that im using are at the first place the CCI and on 2nd place the WaveTrend Indicator with Crosses By LazyBear
Both of them are used to Indicate Oversold and Overbought areas within the Chart
1. CCI
The CCI is currently in a Oversold area this means that the Price will most likely go up again. This sequence was Strongly testet 3 Times
We also have been testet 4 times on Overbought Pricing and the Market always reacted good on those type of signals.
2. WaveTrend Indicator with Crosses By LazyBear
The WaveTrend Indicator by LazyBear is also used to identify Oversold and Overbought areas
Just like on the CCI here we are also in an Oversold area
If 2 indicators practically match with one signal i will strongly consider to take a look at some buy/ sell option
I will keep you guys updated whats happening with Oil!!
Well this was the end
I hope all of you liked it leave a review below :)
