OIL - Likely development on the 4hr/daily scenario
This looks like the likely scenario that will now develop on oil on the 4hr/daily timeframe.
In other words, we will look for an upside from now on first, back to the 0.618 re-tracement of the huge downside impulse that occurred in the last week of June.
So all buy setups we will be able to take until price hits the $72 area, then we will start looking for sells.
In other words, we will look for an upside from now on first, back to the 0.618 re-tracement of the huge downside impulse that occurred in the last week of June.
So all buy setups we will be able to take until price hits the $72 area, then we will start looking for sells.
Nota
Remember: OIL news today 2 hours into the NY session. Most likely our first buy setup will be then.Dagangan ditutup: sasaran tercapai
The up move happened, as expected. A little late on schedule, from a lower point, but happened nonetheless. All longs are now off as it might not necessarily retrace all the way to the 0.618 fib of the previous impulsive down move. As long as the C wave has broken the top of the A wave in the 3 piece correction, the pattern can be completed and the downward impulse can resume any moment. Which is why, from this moment on, we will be looking for sell setups only.Nota
One more upside today, a buy probably worth taking to the 72.38 area. The sell will come next week.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.