USOIL Trading PlanPattern: Channel Up on 4H.
Signal: Bullish as long as the (dashed) Channel Up holds. If not the next buy candidate is the Symmetrical Support.
Target: 29.20 (Resistance). If broken then 35.00 (Higher High of the Channel Up). If the Symmetrical Support breaks then 10.20 (Hard Support).
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Usoilsignals
WTI OIL Buy SignalPattern: 1D Channel Up.
Signal: Bullish as group of parameters is fulfilled: 1. Reached the Higher Low of the pattern, 2. Made contact with the 1D MA50, 3. Hit the 1.3 Fibonacci retracement level after the Iran attacks, 4. The RSI is on a 3 month support level.
Target: 64.00 (Higher High trend line of the pattern) and in extension (depending on the geopolitics at the time) 66.00 (just below the 1W Resistance).
See how accurate this pattern with Supports and symmetrical Resistance levels has been in the past:
WTI OIL Bullish Trading planPattern: 1D Channel Up.
Signal: Bullish as the price broke the 58.80 Symmetrical Resistance, which (excluding the Saudi attack on September 16th) has been holding since July.
Target: 61.00 (1st 1W Resistance) and if the Lower High trend line (red bold) of the Descending Triangle breaks, 63.50 (2nd 1W Resistance).
See how accurate the 1W Descending Triangle has been on my last Support Buy:
WTI OIL Neutral sentiment. Trade the break-out.Pattern: 1W Descending Triangle .
Signal: Bullish within the 1D Channel Up. Neutral outside so trade the break out: (A) Bullish above the 58.80 Symmetrical Resistance, (B) Bearish below the 54.80 1D Support.
Target: Within the 1D Channel Up it is always the 58.80 Resistance. Outside is (A) = 61.00, (B) = 51.50.
See how accurate the 1W Descending Triangle has been on my last Support Buy:
USOil / WTICrude - Buy NowYes Buy now.
USOil is in over bought situation in daily time frame.
1. Bottom bollinger band giving it a support to push up
2. Couple of time tested strong support at 51.04 price
3. 50 EMA is crossing the the middle bollinger band
4. Whenever RSI hit the 33.84 level price was retrace from that level
So we have few confirmation Buy USOil
Note: Trade at your own risk.
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