USOIL Buy Signal

TVC:USOIL   CFDs on WTI Crude Oil
Pattern: Channel Up.

Signal: Buy when the price completes the roughly -8.00% decline from the recent top. There is an obvious declining pattern on the pull-backs within the Channel Up.

Target: 44.50 (+2.20% from the most recent High, in accordance to all previous Higher Highs made).

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Sorry, I didn't get why you specified -8.00% to the downside? why not 7% for example? haha
+2 Reply
Amro_Elzeiny Amro_Elzeiny
@Amro_Elzeiny, IDK whether you understood me, I meant just why 8%?
+1 Reply
harounbsn Amro_Elzeiny
@Amro_Elzeiny, he had to pick something, right?
+1 Reply
kadmiom Amro_Elzeiny
@Amro_Elzeiny, from the top to where the 4H TF candle touches the MA20 is a 7.91% decline as you can see on the chart.
+2 Reply
@kadmiom, Ahaaaa, I got it now, thanks a lot!
+1 Reply
@kadmiom, And yes it has to be right below the 4H MA200 as the previous pull back.
+1 Reply
TradingShot Amro_Elzeiny
@Amro_Elzeiny, The average rate decreasing rate of the previous 3 pull backs.
+1 Reply
based on the 200ma its clear uptrend! thanks for sharing
+1 Reply
TradingShot Fx-jomic
@Fx-jomic, You're welcome!
the buy signal for oil was $-40.00....after that it has taken off.
+1 Reply
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