Rising wedge broke as expected. Uptrend still not broken however. Will wait until Monday to enter short/long depending on DXY and news. GL all
Oil forming a bearish rising wedge reversal pattern. Strength in DXY will lead to break lower. Rig count will not change price much unless large build.
Oil forming a rising wedge. Bearish reversal. Look for support at 41.
IT IS ALWAYS GOOD TO TAKE A STEP BACK AND LOOK AND THE HIGHER TIME FRAME THE INTRADAY SWINGS CAN GIVE CONFUSION IF YOUR CONTEXT ISNT FOCUSED
PRICE CAME BACK TO THE "ZONE OF INFLUENCE" DOUBLE TOPPED AND THEN PANIC FLUSHED THE WEEK HANDS BEFORE ITS REAL AGENDA.
PRICE PANIC FLUSHS HITS POTENTIAL SUPPORT. FORMS INSIDE BAR THRUSTS UP THEN RETEST. "STUDY THIS ..OVER AND OVER AGAIN
TIME CAME IN AND PANIC SOLD DOWN TO SUPPORT. TO CONINUE THE ADVANCE WE NEED TO STAY ABOVE BOTH PIVOTS OR A SIDEWAYS RANGE WILL POSSIBLY DEVELOP MORE IT SHOWS IT AGENDA.
A comparison of USOIL vs DWTI (inverse - please note 1/DWTI as the symbol) vs UWTI. If your broker allows shorting DWTI (mine does not .. it sucks !!), then you will be way ahead.
Going short. Targets on Graph - 36.5, 35.6 and 32. Correction : First Target should read 39.6
PRICE STRUCTURE AT "POTENTIAL RESISTANCE" TIME IS APPROACHING .... TRADE THE DEFINED PARAMETERS ON PRICE ACTION. IN THE CENTER OF THE RANGE IS THE "KILL ZONE"
"DESCRIPTION ON CHART"
A to B is a perfect 0.618 retrace of the impulse leg down...watching to see if oil heads towards the 0.786 retrace of the impulse leg up to point C. Potential oil target 29.25
PRICE IN ENTERING "PROBABITIY ZONES" IT PROVIDES INFORMATION WHERE TO ACT AND WHAT HAPPENS IF PRICE BREAKS THE AREA. HAVING INFORMATION BASED ON PATTERN AND TIME HELPS ONE FORM THERE ROADMAP FOR "THE TRADE"
DESCRIPTION ON CHART..... PRICE IS GETTING READY TO CHOOSE ITS LAUNCH FROM THE BOX...
DESCRIPTION ON CHART..... WATCH LEVELS FOR RESPONSE.....
DESCRIPTION ON CHART....STUDY PRICE ACTION ....... WE GET PAID TO WAIT.
DESCRIPTION ON CHART..