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USOILSPOT trade ideas

Short for mondayWeekly candle looks bullish with an engulf at the bottom. But won't be an easy bullish rally. On the way up from bottom these things happened. 1. Daily candle intercepted by ema15, leaves a wick on Wednesday. (Normal) 2. Thursday saw spike above Wednesday but closed within the highs of Wednesday (smell bears coming in?) 3. Thursday's candle body gets engulfed in red by Friday candle. (Bears arrived for sure) All these happened at the EMA resistance, this is a strong bearish indication. Weekly looks bullish, daily looks bearish, confusing isn't? Both will play out. Now look at the 4H Chart shown, inverted head and shoulder is forming. Market will be bearish on monday (may be on tuesday too), will try to take support near 77-78 range and that will form the right shoulder. 50% retracement level of recent rally also falls in this range. From there, weekly bullishnesss will kick in for a sharp rally upward. Be patient before taking long position. Since daily chart price action is very bearish, it needs strong rejection from deep support to negate the daily chart bearishness and push higher. Expect big volatility below 78$. Be very sure before taking long position between 77-78 because, deviation from projected chart pattern is observed and market may even breakdown without holding support for right shoulder formation, monthly candle shows bearish engulf. Conclusion - Short for start of next week, minimum target near 77-78 range. Decide to go long based on monday Tuesday price action. Anybody holding long may exit and wait for better entry after bullish confirmation.
TVC:USOILShort
by Guna1223
2
#USOIL it's possible to sell#USOIL for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support Why we like it Price trading the 4hr resistance moving to the next level support waiting for bearish candlestick formation Trading in channel 1st support: 75.68 Next Zone area & horizontal swing Low support 1st Resistance 96.53 Zone area & horizontal swing high resistance
TVC:USOILShort
by Skandhatrade
#USOIL it's possible to sell#USOIL for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support Why we like it Price trading the 4hr resistance moving to the next level support waiting for bearish candlestick formation Trading in channel 1st support: 75.68 Next Zone area & horizontal swing Low support 1st Resistance 96.53 Zone area & horizontal swing high resistance
TVC:USOILShort
by Skandhatrade
#USOIL it's possible to sell#USOIL for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support Why we like it Price trading the 4hr resistance moving to the next level support waiting for bearish candlestick formation Trading in channel 1st support: 75.68 Next Zone area & horizontal swing Low support 1st Resistance 96.53 Zone area & horizontal swing high resistance
TVC:USOILShort
by Skandhatrade
#USOIL it's possible to sell#USOIL for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support Why we like it Price trading the 4hr resistance moving to the next level support waiting for bearish candlestick formation Trading in channel 1st support: 75.68 Next Zone area & horizontal swing Low support 1st Resistance 96.53 Zone area & horizontal swing high resistance
TVC:USOILShort
by Skandhatrade
#USOIL it's possible to sell#USOIL for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support Why we like it Price trading the 4hr resistance moving to the next level support waiting for bearish candlestick formation Trading in channel 1st support: 75.68 Next Zone area & horizontal swing Low support 1st Resistance 96.53 Zone area & horizontal swing high resistance
TVC:USOILShort
by Skandhatrade
#USOIL it's possible to sell#USOIL for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support Why we like it Price trading the 4hr resistance moving to the next level support waiting for bearish candlestick formation Trading in channel 1st support: 75.68 Next Zone area & horizontal swing Low support 1st Resistance 96.53 Zone area & horizontal swing high resistance
TVC:USOILShort
by Skandhatrade
USOIL Trading Plan - 17/Nov/2022Hello Traders, Hope you all are doing good!! I expect USOIL to go UP after finishing this correction. Look for your BUY setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea
TVC:USOILLong
by For3xScalper
US OIL ELLIOT WAVE COUNTS AND BREAKOUTCrude oil is looking Bullish ahead Reasons are mentioned below Inverted head n shoulder Neckline Breakout Price taking support from RK's Mass psychological cloud and RK's stopline in daily time frame Possible wave counts on weekly chart Possible wave counts on Daily chart Possible wave counts on 4 hourly Possible wave counts on 1 hourly Price challenging upper band on daily time frame macd positive cross in daily time frame macd converging towards north uptick in weekly time frame RSI uptick above 60 in daily time frame DMI ADX positive uptick in daily time frame Price closed above 50dema, 100dema & 200dema Weekly close above 20WEMA, its also above 50 WEMA, 100 WEMA & 200 WEMA. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
TVC:USOILLong
by RK_Chaarts