EverythingForex

Quick Take Update: USOil - Still At Critical Levels

FX:USOIL   Crude Oil (WTI)
679 9 17
3 days ago, I posted an update on USOil             where I had just closed my trade on it and pocketed a quick +146 pips on a short term trade. I closed that trade as it had reached my target at some critical levels which I said could provide some good support for a retrace. Well, since that post 3 days ago, prices for oil             have just hung around that critical level support zone moving even lower as I predicted oil             would do.

It is currently sitting right at the 2.618 extension of that COMPLETED crab in the crab's PRZ. What I'm looking for now is for it to finish off this wave (v) of what I see as just the wave A of a larger correction. Any retrace bounce we get from here should be the wave B of that larger correction. But first, we need to see price action tell us that this wave (v) and wave A are done. I'm looking for a quick spike below this 2.618 where it is sitting now and for prices to quickly move back up off that spike. That would give me a setup to go LONG. But must wait.....

Does this kind of analysis help you with your trading? Want more in-depth analysis of markets like this? Just subscribe to my website and you will get in-depth analysis, commentary, intraday updates, access to private chat rooms, REAL-TIME trade recommendations and trade updates and more!

Half-price trial offers are still available! Ask me how!

Faceb00k: http://goo.gl/Mb81w7
Website: www.efxselect.com to subscribe
Join my Skype chat room! It's FREE (requires registration): Skype link: https://goo.gl/2fwvsa
Documented Trade Log here: http://bit.ly/29AeqnC

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

THINK before you comment! It takes MUCH work and time to create these posts! So before you decide to criticize me for what I post, or how I choose to post, remember that I don't just throw a chart up with a few lines on it with a few arrows showing 2 possible directions and that's it. I can do those in 5 mins. My charts take MUCH effort and I put much detail into creating them for your benefit. I hope it helps but I also hope it's appreciated!

If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I can know my post was helpful to you. As always, any CONSTRUCTIVE comments are welcome whether AGREE or DISAGREE.
BIG NEWS! Want a FULL WEEK of FREE ACCESS to my member's charts & analysis? If you want it, PM me! Also, for all who PM me, you will be entered to win a FREE MONTH'S Subscription! PM me for details!
Alex.Singletary
4 months ago
Agreed. Thanks for sharing your analysis. Seems to me that it is overextended which should make for some good CAD trades in the near term. good luck mate!
snapshot
Reply
tbuckle PRO
4 months ago
So you think we bounce soon towards $47?
Reply
EverythingForex PRO tbuckle
4 months ago
quite possible but this is a STRONG downtrend. If you want to trade counter-trend against it, I would suggest you take great care and watch the price action to tell when might be a good time to buy.
Reply
EverythingForex PRO EverythingForex
4 months ago
Last week before oil dropped, I released a complete analysis on USOil that was made available to my subscribers to my website, "USOil: Could We Actually See $30 Again?". That tells you what I think about what Oil will be doing. Subscribers got this report and we caught some of this recent drop banking +146 pips. In that report, I outline what I think will be opportunities to catch good trades in Oil coming.
Reply
tbuckle PRO EverythingForex
4 months ago
Can I send you $10K plus my first born and 1 pint of blood to receive the report?
Reply
EverythingForex PRO tbuckle
4 months ago
you can keep your first born
Reply
tbuckle PRO EverythingForex
4 months ago
ok, where to send blood and $10 K too?
Reply
EverythingForex PRO tbuckle
4 months ago
send the blood to the Red Cross and the $10K to Doctor's Without Borders. Send me the receipts you did so. And I'll think about it. And hey, at least you can sleep well knowing you did some good.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out