Don't be fooled about the key level, I personally think this has a lot more upside potential before we see any sort of decline. I expect price to rise much higher to SL hunt the sellers that impulsively sold at the key level marked.
Let's see how this one plays out at the start of next week, have a great weekend!
Note the high pressure from sellers!
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also, you can ask me questions...
Have a great day everyone!
Oil is looking very interesting, definitely still stuck in consolidation for the time being. I do believe we're going to see some very big moves soon. Remember when pairs get squeezed tight in consolidation we typically see some very big moves. We might be heading lower soon. Sitting on my hands for now and keeping a close watch on oil. I do believe were...
Oil is looking really interesting. It does look like the bulls may be taking control but at the same time it’s showing very tricky price action at the moment. I am not really liking how it’s looking so I am going to stay on the sidelines for now and let it play out a bit more
In this video i breakdown what i see on oil. I view oil as being completely weak especially with the effects from corona virus that have impacted the demand side of the commodity. At the moment even though the pair is weak which could be viewed as cheap for investor to buy based of value trading most of smart money will likely stay away from the...
This week i am only looking for shorts on oil unless an unexpected event happens e.g if oil tankers are attacked in the middle east or north Africa. With major cities being shut down in china, oil has been extremely oversupplied with less demand driving the demand down. I see a pull back coming but then it will likely sell off to lower levels. The...
Keeping a close watch on oil. Nothing for us just yet. I feel we could see a push to the downside to retest support then if support holds we could see a strong reverse to the upside. We need to sit on the sidelines with this pair for the time being.
Oil is looking really good. I believe is support holds we could see a nice push to the upside very soon, that being said overall I feel we are going to roll over to the downside so be very cautious. Ive mentioned many times when trading gold and oil you have to respect them both and always exercise proper risk management.
I'm expecting a short here but either way, if it a 1 hour candle closes outside of the box I will enter a short. For best results, watch for it to close outside of the zone and then re-test the break.
Possible trend change longer term as well so you may be able to hold long term (Much longer than the three TP's.
Hi Seildev here,
Will be looking at shorting USDWTI/oil this evening. So far we have a very nice confluence area and key support and resistance of 47.1
- Structural trade
- 47.1 Key support/resistance
- 50 EMA acting as resistance
- 50% Fib