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

This is a follow-up video to last week's analysis as we were able to scoop over 1,200 pips profit (see link below for reference purposes). Thursday's data showed that U.S. CPI inflation eased in December 2022 and this data appears to be firing a bullish momentum as risk appetite for the Oil appears to have been bolstered. Last week's trading session witnessed a rise of approximately 7.00% to close the week around the $80 zone - a good sign of recovery. So, from a technical standpoint; the $80 Level shall be our yardstick for trading activities this week and this video gives a detailed illustration of what to look out for to either buy or sell the USOil for this week.

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:

The week appears to have started on a bearish note as selling pressure resumes below the $80 level. So, we shall be using the structures recently identified on the 1H timeframe i.e the bullish trendline and the channel ($80 and $79.50). A breakout or breakdown shall signal buying or selling opportunities respectively.

Good morning

Trade active:

Secure sell position

Trade active:

Price action takes out the sell position at breakeven. The structure identified earlier is still valid for trading opportunities.

Trade active:

Just as discussed during our live session today

Trade active:

Secure all sell positions as buy pressure resumes at the $79 zone

Trade active:

With Continued buy pressure above the $79 level leading to the breakout of both trendline and the $79.50 level as sellers are unable to break below the $79 zone in the last 14 hours; I will be risking a buy position above the $79.50 level in the anticipation of adding more position at the breakout/retest of the $80 Level.

Good morning

Trade active:

Secure the buy position as we anticipate another entry at the breakout/retest of the important ley level at the $80 zone.

Trade active:

Just as discussed during our live session today; price action breaks out of the key level at the $80 Level to trigger our second position. Secure all positions.

Trade active:

Taking out of the buy position with about 90 pips profit (2 positions) as price action test the $80 level - the level that was broken for the first time in months. So, we are going to monitor price action around this level for trading opportunities. Buy pressure on the lower time frame will be welcoming buying opportunities.

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Simple trading set-up identified on the 5-minute timeframe

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Position triggered the second time above the $80 level and currently running with about 120pips in profit; secure position while we look forward to another opportunity at the breakout/retest of the $81.50 level.

Trade active:

Secure buy position as we look forward to a breakout/retest of the $81.50 level for another trading opportunity. Note that a breakdown of the trendline will be taken as a retracement phase.

Good morning

Trade active:

As we anticipate data from the Retail sales report in 25 minutes; secure all buy positions.

Trade active:

The Retail sales data came in below expectation and this development might reflect as bullish traction for the US dollar. Secure all buy positions as price action as a high chance of falling into a retracement phase. Update coming in soon

Trade active:

Secure all buy positions and get ready for a bearish move at the breakdown/retest of the $81.50 level for a retracement phase.

Trade active:

Secure the sell position as price action breaks down the $81.50 level

Trade active:

Secure the second sell position

Trade active:

Secure all sell poitions

Good morning

Trade active:

Just as discussed during our live session this morning (replay on my channel): the buy stop triggered at the breakout of the $79.00 level. Secure position as we look forward to more trading opportunities.

Trade active:

Secure the two buy positions as sell pressure resumes.

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3 positions running in profit; secure all positions as we look forward to adding more position structure permits.

Trade active:

Secure the buy position as price action continues to oscillate around the trendline that was broken to the downside yesterday. Selling pressure might resume here, so if we sight reversal patterns in the lower time frame, we should get ready to sell. However, if the price breakout/retest this trendline, we look forward to adding one more position.

Trade active:

A simple setup is identified around the retest of the trendline identified in my previous update in the 15 minutes timeframe. So, we are going to be using this set-up (bullish trendline and flat channel) to identify the potential breakthrough from this juncture.

Trade active:

Secure the buy position as we look forward to another opportunity

Good morning

Trade active:

Sell pressure resumes; secure all buy positions. See you at the live studio session

Trade active:

The previous trading set-up was readjusted during our live session this morning.

Trade active:

Secure the buy position