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Wtioil

WTI: Bears Are Outnumbering BullsWTI has been forming a flat A-B-C correction. According to Elliott's wave projection, the oil future looks bearish. Oil Future has accomplished wave A at 193.17 , and sub-wave (c) of wave ((B)) is creating an ending diagonal. The ending diagonal is a formation of five waves. WTI is to occur in wave 5 of an ending diagonal. If you are a safe trader, you can trade after the breakdown of wave 4 at 110 . Your target will be 105-99-93 . Aggressive traders can sell when the price falls below 119 . If it goes above the parallel channel, wait for levels to appear. Thank you @Money_Dictators
MATBAROFEX:WTI1!
by Money_Dictators
WTI . Important Technical Analysis UpdateMidterm forecast: . While the price is below the resistance 43.60, beginning of downtrend is expected. . We make sure when the support at 30.85 breaks. . If the resistance at 43.60 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: . There is a divergence in RSI and price between the peak at 40.565 on 2020-06-08 and the peak at 43.595 on 2020-08-05, the probability of uptrend continuation is decreased and the . probability of beginning of downtrend is increased. . While the RSI support #1 at 52 is not broken, the probability of price decrease would be too low. . A peak is formed in daily chart at 43.60 on 08/05/2020, so more losses to support(s) 38.85, 37.15, 34.60 and minimum to Major Support (30.85) is expected. . Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. . Relative strength index (RSI) is 58. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
TVC:USOIL
by ForecastCity_ME
15
A second Chance to Sell in USOIL...Midterm forecast: 60.15 is a major resistance, while this level is not broken, the Midterm wave will be downtrend. We will close our open trades, if the Midterm level 60.15 is broken. Technical analysis: While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low. A trough is formed in daily chart at 50.90 on 06/11/2019, so more gains to resistance(s) 58.05 and maximum to Major Resistance (60.15) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 56. trading suggestion: *There is still a possibility of temporary retracement to suggested resistance line (60.15). if so, traders can set orders based on Price Action and expect to reach short-term targets. *If you missed our first HUNT, you have a second chance to bell below the suggested resistance line (60.15). Entry signal: Signal to enter the market occurs when the price comes to " Sell zone " then forms one of the reversal patterns, whether " Shooting Star " or " Peak ", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and special version of our " Price Action " strategy FOLLOW our lessons: Trade Setup: We opened 9 SELL trade(s) @ 65.11 (day close price) based on 'Peak' at 2019.04.25. Total Profit: 6754 point Closed trade(s): 3750 point Profit Open trade(s): 3004 point Profit Closed Profit: TP1 @ 61.85 touched at 2019.05.02 with 326 point Profit. TP2 @ 60.15 touched at 2019.05.06 with 496 point Profit. TP3 @ 58.05 touched at 2019.05.23 with 706 point Profit. TP4 @ 55.20 touched at 2019.05.31 with 991 point Profit. TP5 @ 52.80 touched at 2019.06.03 with 1231 point Profit. 326 + 496 + 706 + 991 + 1231 = 3750 point Open Profit: Profit for one trade is 65.11(open price) - 57.60(current price) = 751 point 4 trade(s) still open, therefore total profit for open trade(s) is 751 x 4 = 3004 point All SLs moved to Break-even point. Take Profit: TP6= @ 49.50 TP7= @ 45.80 TP8= @ 42.60 TP9= Free
TVC:USOILShort
by ForecastCity_EU