Kumowizard
Long

Oil 4H - Watch here the FLAG not the FED!

FX:USOIL   Crude Oil (WTI)
515 6 10
Still a noise, but a bit of bullish noise today.


Let me repeat what to watch, with looking at 4H time frame too:

- Daily Kijun Sen at 43,50, as lower supp/res. (Below 43 would be bearish again)
- Daily tenkan Sen at 46. -> Bullish momentum would accelerate above 46
- 4H Kumo and flag... et voilla: 43 - 43,50 on lower side vs 46 on upper side. Power of multi time frames!
- In case of bullish action             Chikou Span would cross past candles -> weak bullish Chikou cross as confirmation
- Daily haDelta/SMA3 -> will it cross back above zero line?

Original idea linked below.

Related Ideas

Hi nice analysis we have hit 46. any update?
Reply
Sorry for too late reply. When you asked it was a hold long strategy. It moved to 47,50. Now it is sufferring and situation is more uncertain. Trail your stop. I still believe bias will remain bullish until holds above 43, but it may stuck in 43 - 47 range for some more time.
Reply
thank you for sharing, it's indeed moving upward
Reply
If Oil closes above 44,90, then we will have a bullish Heikin Ashi candle today. Price above 45,90 would mean a bullish flag breakout.
+1 Reply
Hi! What price level you would take short a position on EURHUF?
Reply
Pls ask me again about it in the EURHUF post, not to confuse others who'd like to follow only WTI. Come over there, I reply there. Thx,
Reply
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