😇7 Dimension Analysis
Analysis Time Frame: Daily
1️⃣ Price Structure: Sideways to Bullish
🟢 Structure Initial Behavior: Choch Bearish
🟢 Move: Corrective
🟢 Inducement: Done
🟢 Pull Back Count: 1st
1st OB mitigated
Extreme OB unmitigated
Touch count 4, breakout from the range
2️⃣ Pattern
🟢TREND LINES: Act as Support
🟢CHART PATTERNS:
Flag: Signaling Continuation
Triple Bottom: Indicates a potential move to the long side
Rectangle Breakout: Confirms bullish sentiment
Fakeout: Strong demand signals after the breakout
CIP: Holding at rectangle resistance, now acting as support
Buildup: Bullish momentum after the rectangle breakout
🟢 CANDLE PATTERNS:
Record Session Count: 7 buy candles, transitioning to sideways during buildup
Change in Guard: Noted at the end of the record session count
Momentum (Engulfing): Indicates potential bullish continuation
Engulfing: Classic bullish pattern at the bottom
Good Momentum: Observed at rectangle breakout
Narrow Range 4: Bullish breakout during the buildup phase
Inside Bar: Current candle forming, confirmation needed at closing
Todays Open High: Sustained for 4 hours
3️⃣ Volumes
4️⃣ Momentum RSI:
🟢 Zone: Superbullish yet
🟢 Range Shift: Sideways to Bullish
🟢 Divergence: Hidden 5-candle divergence indicates loss of momentum
5️⃣ Volatility Bollinger Bands:
Middle Band S/R: Strong support
Squeez: 60 candles in range, poised for a breakout inside the bulls
Squeez Breakout, Outside Upper Band: Bulls showing strength
Headfake: Price closed outside the lower band multiple times but quickly bounced back
M Pattern: 2nd leg forming, potential small correction toward middle band support
Open with Gap and Equal High: May indicate a correction
6️⃣ Strength ADX:
Main line under 20 shows overall consolidation, but bulls have some power
7️⃣ Sentiment ROC:
Rate of change for oil is in demand compared to all other commodities according to available data
✔️ Entry Time Frame: H1
✅ Entry TF Structure: Bullish
☑️ Current Move: Impulsive, waiting for a valid high after corrective move
✔ Support Resistance Base: Hourly trendline and wick OB area acting as strong support
☑️ Candles Behavior: (to be monitored after correction)
☑️ FIB Trigger Event: Not yet
☑️ Trend Line Breakout: Not yet
☑️ Final Comments: Awaiting correction completion before considering buy position
💡 Decision: Buy
🚀 Entry: 75
✋ Stop Loss: 73.5
🎯 Take Profit: 81.54
😊 Risk to Reward Ratio: 1:5
🕛 Expected Duration: 15 days
Analysis Time Frame: Daily
1️⃣ Price Structure: Sideways to Bullish
🟢 Structure Initial Behavior: Choch Bearish
🟢 Move: Corrective
🟢 Inducement: Done
🟢 Pull Back Count: 1st
1st OB mitigated
Extreme OB unmitigated
Touch count 4, breakout from the range
2️⃣ Pattern
🟢TREND LINES: Act as Support
🟢CHART PATTERNS:
Flag: Signaling Continuation
Triple Bottom: Indicates a potential move to the long side
Rectangle Breakout: Confirms bullish sentiment
Fakeout: Strong demand signals after the breakout
CIP: Holding at rectangle resistance, now acting as support
Buildup: Bullish momentum after the rectangle breakout
🟢 CANDLE PATTERNS:
Record Session Count: 7 buy candles, transitioning to sideways during buildup
Change in Guard: Noted at the end of the record session count
Momentum (Engulfing): Indicates potential bullish continuation
Engulfing: Classic bullish pattern at the bottom
Good Momentum: Observed at rectangle breakout
Narrow Range 4: Bullish breakout during the buildup phase
Inside Bar: Current candle forming, confirmation needed at closing
Todays Open High: Sustained for 4 hours
3️⃣ Volumes
4️⃣ Momentum RSI:
🟢 Zone: Superbullish yet
🟢 Range Shift: Sideways to Bullish
🟢 Divergence: Hidden 5-candle divergence indicates loss of momentum
5️⃣ Volatility Bollinger Bands:
Middle Band S/R: Strong support
Squeez: 60 candles in range, poised for a breakout inside the bulls
Squeez Breakout, Outside Upper Band: Bulls showing strength
Headfake: Price closed outside the lower band multiple times but quickly bounced back
M Pattern: 2nd leg forming, potential small correction toward middle band support
Open with Gap and Equal High: May indicate a correction
6️⃣ Strength ADX:
Main line under 20 shows overall consolidation, but bulls have some power
7️⃣ Sentiment ROC:
Rate of change for oil is in demand compared to all other commodities according to available data
✔️ Entry Time Frame: H1
✅ Entry TF Structure: Bullish
☑️ Current Move: Impulsive, waiting for a valid high after corrective move
✔ Support Resistance Base: Hourly trendline and wick OB area acting as strong support
☑️ Candles Behavior: (to be monitored after correction)
☑️ FIB Trigger Event: Not yet
☑️ Trend Line Breakout: Not yet
☑️ Final Comments: Awaiting correction completion before considering buy position
💡 Decision: Buy
🚀 Entry: 75
✋ Stop Loss: 73.5
🎯 Take Profit: 81.54
😊 Risk to Reward Ratio: 1:5
🕛 Expected Duration: 15 days