Well, before any of that, I'll go ahead and give a little FREE analysis on this pair here this time. Pay attention!
I posted these charts out to my PREMIUM members. This MONTHLY chart was also posted out to my Facebook group as well. It was posted 7 days ago:
So you can see from the MONTHLY chart that there is a COMPLETED bat now and that prices have now and are still retesting that low established back in Jan., 2009. That low was never retested until now. And as I have said on many occasions, all significant highs and lows regardless of what TF you are looking at get retested at some point. Can't be sure when but it happens. Here, this being a MONTHLY chart, it took 6 years but it is happening right now. When these retest occur, they set up some GREAT "low-risk" (low risk being a relative term) counter-trend trading opportunities. But beware! This is a MONTHLY chart so taking any trade off this TF requires a HUGE stop loss and risk tolerance! You need nerves of steel to withstand the swings that will inevitably happen when bulls and bears fight. And they are fighting now!
Something to realize though. Since this is a commodity, prices can NEVER reach zero! And if you use your common sense, you would also realize that the likelihood of prices dropping much further are low as well. The market forces simply cannot tolerate prices dropping below a certain point. So with that in mind, where prices are at now, may be as low as they will get...relatively speaking.
Now I want you to pay CLOSE ATTENTION to this chart. This was a chart I sent out to my Premium members along with the monthly chart above 7 days ago. Compare that with the MAIN chart above with the updated prices:
My system pretty much predicted VERY CLOSELY the future price movements of USOil to the tee! If you had sold where I had projected wave (a) to end and held it to where I have wave (b) ending, you would've made +336 pips in one week off this pair! Now, full disclosure. I personally DID NOT take the trade for reasons of my own so I did not make these pips. But the point is that my system NAILED this trade! You don't need to believe me. These charts are posted here and can be checked just by clicking on them or the links in the Related Ideas section.
And you can bet I'll be paying very, very close attention to what happens next! And my members will be alerted! What about you? Do you want to be alerted? You won't find it here or even on my facebook group as this pair is EXCLUSIVE to my members and clients. So go to my website and subscribe if you want it! http://www.efxselect.com
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