USOil | New perspective for the week | Follow-up detail

Following the massive slide couple of weeks ago; we scooped over 800pips profit as the US oil finished last week's trading session up approximately 4%, after factoring in gains from the first four days of the week. This indicates consolidation and the possibility of a technical rebound, which has immediate resistance at both the trendline identified on the 4H timeframe and the swing high of the $71 zone. In this video, we analyzed the current market structure with the intent of identifying the potential direction of price action in the coming week(s).

00:40 Reference to last week's daily commentaries and results
04:50 USOil Technical analysis on Daily chart
10:20 USOil Technical analysis on 4H Timeframe against next week
12:38 Conclusion on next week's expectation for the USOil

Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

Trade active:

A consolidation phase was identified where we shall be waiting for either a breakdown or breakout for trading opportunities. See you at our morning live session in 30 minutes.

Good morning

Trade active:

Selling pressure resumes, close out the buy position to place another buy-stop orde above the resistance line. However, if selling pressure resumes below the trendline, selling opportunities will be considered.

Trade active:

Secure buy positions

Trade active:

Secure all buy positions as selling pressure resumes

Trade closed: target reached:

Approximately 800pips in profit with 3 positions. We look forward to seeing how price action reacts with the $73.00 level for trading opportunities.

Comment:

Since hitting the TP target, price action remains trapped within a consolidation phase. We are waiting for a signal at either a breakout or breakdown of the channel. See you in our live session!

Good morning

Trade active:

Secure buy position

Trade active:

We discussed this at length during the live session today; Selling pressure resumes, we awaiting signals as price action takes out the buy position at break even

Trade active:

Buying pressure resumes

Trade active:

Secure buy position as we look forward to more opportunities

Good morning

Trade active:

Trade active:

Just as discussed during our live session, price action triggers sell stop order at the breakdown of the $73.50 level

Trade active:

Buying pressure resumes as price action takes out the sell position with a small profit. Looking forward to buying opportunities.

Good morning

Trade active:

Just as discussed during our live session this morning

Comment:

secure the current buy position

Trade active:

Trade active:

Secure all 3 buy positions

Trade active:

secure all buy positions as selling pressure resumes. We will talk on this in details during our live session

Good morning

Trade active:

Just as discussed during our live session this morning

Trade active:

Secure the buy position

Trade active:

Trade active:

Secure buy position