Well last week went for the majority as I expected however on friday the price forgot to lift of to my target area of 60.
As it became clear we are still really stuck in the triangle (see yellow lines). We will have to wait which side we break. One way to look at it is to look at the volumes over the last period.
You can see that the price did not move that much...
last week I mentioned that we reached a TD sequential count of 13 and that the money inflow indicator was reading low figures and that those elements initiated a buy with my program. Furthermore, last week, it was clear that the first couple of days were likely to trade down.
Well the price followed neatly these predictions. If it continues to do so we should go...
Hard to make up my mind this week. There are two indications that lead me to think that we could see more upward movement of the price:
1. One can see that the money inflow index over the last 15 days is reading below 30 indicating that the selling pressure dissipated.
2. The famous count 13 is reached which according to Tom demark indicates that we are likely...
Go long the UKOIL if it trades at 48.60 or higher. If triggered, place your stop at 46.21 and exit the position for a profit at 50.12 or at your own discretion. (Signals are valid for 1 day only. Always invest wisely).
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GARTLEY PATTERN
PAIR: UK/OIL
TIME-FRAME: 1HR
TRADE: GARTLEY PATTERN
For those that have been watching me trade Oil
in our Live Room, we have been doing extremely well.
Here is another Gartley Pattern opportunity for us to Trade.
NOTE: These are potential trade opportunities. Please
re-analyse the trade before...
