Pattern: Channel Down on 1D. Signal: Bullish above 58.85, bearish below 53.55. Targets: 63.00 and 50.90 respectively.
Pattern: Ascending Triangle on 4H. Signal: Bullish as it approaches both the Support and the MA200. Target: 61.90 (symmetry of Higher Highs).
OANDA:WTICOUSD has now approached buying zone. The following trend indicator is based in a combination of two bollinger bands with both one and two deviations. When the price enters the higher-end of the channel, it means the trend has started and its time to buy now. The current political tensions in the middle east should provide some support to the current...
Pattern: Channel Up on 1D. Signal: Bullish as the price hit the Higher Low. Target: 65.00 (median of the 1W Resistance Zone and a 16.60% extension from the Higher Low).
Pattern: Channel Up on 1W. Signal: Bullish after a similar sequence has been spotted both on the candle and RSI action. Target: 2.1400 (1D Resistance).
Pattern: Channel Up on 4H. Signal: Bullish as long as the 4H Support holds or the Golden Cross takes place. Target: 59.50 (mid term) 63.80 (long term).
FOREXCOM:WTIUSD Oil Looks ready to move up from 618 , good to go long now
Pattern: 4H Rectangle (blue shape). Signal: Bullish every time it hits the 1W Support Zone (1) or if 54.85 breaks (2). Target: (1) = 54.80 (2) = 57.45. *The break out from the 1D Lower High (dashed line) practically gives a bottom signal waving a medium term bullish reversal.
The selling won’t be finished until we reach $50-$47 USOIL. A selloff to $51 USOIL coincides with about $32 OILD If we go below that, towards 50, towards 47, we could see $35+ OILD. For those of you who happen to see this, I’m legitimately curious, how many of you saw this selloff in USOIL coming at $66?? What I’m doing: Buy: anything below $28 really. 26 is...
Pattern: Resistance/ Support trading based on Fibonacci levels. Signal: Bullish as the price is near the 0.618 Fibonacci retracement level and the 50.40 - 51.25 1W Support Zone. Target: 57.45 (the 0.382 Fibonacci level which may act as a Resistance).
Thread lightly, a correction could occur in this level or a possible reversal in trend
Trade Background: Price has been in a pullback since its massive tumble last week on May 23th. Now price is edging closer and closer to major resistance level of the channel trend. Trade Idea: Positioning: Short Time frame: 30M chart Length of Trade: 1 to 2 days Entry: Between 59.15 to 59.35 Stop: 59.50 Exit: 58.00