Hello Traders!
Here I am showing the USOIL on the monthly and this will be my second case study.
We will be working with the monthly time frame as this we were the bank's trade. They do not trade on the lower timeframes like the 1min, 5min, 15min, 30min, and 1h.
All markets are fractal , which means all time frames display the same setups on all time frames just in larger or smaller price action.
Here I have two zones marked out, premium and discount . I got these ranges by measuring the most recent and dynamic price range with a Fibonacci tool.
Anything below equilibrium is a discount and anything above is a premium.
Banks are more likely to buy at a discount .
Banks are more likely to sell at a premium.
USOIL is currently siting within the premium range so we are seeking sells.
I will show LTF price action within that range shorty as you will see selling is supported.
Here I am showing the USOIL on the monthly and this will be my second case study.
We will be working with the monthly time frame as this we were the bank's trade. They do not trade on the lower timeframes like the 1min, 5min, 15min, 30min, and 1h.
All markets are fractal , which means all time frames display the same setups on all time frames just in larger or smaller price action.
Here I have two zones marked out, premium and discount . I got these ranges by measuring the most recent and dynamic price range with a Fibonacci tool.
Anything below equilibrium is a discount and anything above is a premium.
Banks are more likely to buy at a discount .
Banks are more likely to sell at a premium.
USOIL is currently siting within the premium range so we are seeking sells.
I will show LTF price action within that range shorty as you will see selling is supported.