Based on current scenario, WTI should start to move quite bit more next weeks, so I'm long and short following lines on chart.
Target depends in rejection and breakout zone.
Have a Good trading Week.
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Has oil already been priced at its lowest point on wave 3?
What if the fifth wave is done and the bear market is over?
Weekly close-up:
https://www.tradingview.com/x/A8PzqDIi/
I don't have experience in arbitrage trading because I personally prefer high risk trades. However, this setup looks to be very interesting. A triangle seems to be broken and a difference probably rising. If I open Oil LONG position I prefer to keep Brent instead of WTI.
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Underlying:USOIL
Time frame:1W
What Has Happened So Far:
Last week I posted a chart on the weekly time frame talking about the potential for the price to still increase in oil. The reason behind that was that the centre line ...
Brent. Sell from the levels. Further I expect price return, to a broken channel and a wedge, from these levels, sell only then, if: If from these lines, one H4 will appear with a close in sell (or on the lower TF H1), then can sell.
BCO/USD is showing a potential inverse head & shoulders on the monthly chart. long term target prices are labeled in the chart. first tp is a probable support level, second tp is based on pattern projection.
this is based on pure TA, so as always, it could be wrong.
trade at your own risk.
If you like this idea leave a like and follow me to get all of my updates :) I would love to talk to you so send me a message or comment!
Underlying: USOIL
Time frame: 1W (buy now)
I have been watching oil very closely over the last 6 months and have spotted something very interesting on the weekly chart that needs to be talked about. So, one of my main ...
