FullTimeTrader
Long

USOIL-last chance to enter long

FX:USOIL   Crude Oil (WTI)
1700 9 21
Price broke the bullish flag/pennant and is making a nice pullback.
Many rejections from the strong level of S/R, we could have a spike but finally i expect a rally (short term or long term).
Best regards.
hey, i was looking at your chart. I am new to MACD but looking at ur chart looks like on day chart the MACD signal is abut to crossover to bearish and it could take days go down and recover. So I want to understand how is this a buy opportunity. Shouldnt it a buy opp. be when the bullish signal crossover.

Thanks
Reply
Hello, i do not recommend to trade based on indicators, its a big mistake many traders do. Indicators are only tools for confimation. The main reason here are based on price action: support resistance, bullish flag, etc. (see above). I use the MACD only to project the final target because we had a strong continuus bullish divergence before. I could make this analysis without MACD also and project the next target to next resistances. Regards.
+2 Reply
moorekapital FullTimeTrader
I subscribe to this 199%. Simple trading- Less is more! The cleaner the chart, the fewer the variables for decision, and the more the effectiveness.
USOIL: I
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Dip buying can still be done at every dip so not the last chance :)
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Yahia.Awes Yahia.Awes
So you are back to MACD :D MACD rocks!
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Great plan..
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Crude oil 3 exit trade

have something similar
might also be the catalyst to drive usdcad down
Reply
Yes! the flag could work also well, sooner or later the USDCAD should fall like a stone. Regards.
+2 Reply
AkashGaur FullTimeTrader
i can see this happening if oil breaks above
snapshot

Best of luck
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