USoil is saying alot from the price action and its good to listen to it
Starting from 24 July when we start the retracement from 45.6 to 50.35.
Next week was a much needed correction and consolidation but we went back to the 45 level again on 30th Aug. This double bottom formation resulted in a much stronger pull back and we reached the 49.3 level mark.
I was expecting this pullback till 48.5 level mark which was 0.3 fib but we went a step further and this resulted in a much stronger correction on friday.
Currently we are at 0.618 fib and the pullback level will be the indicator where we will go
I wont be opening any position yet. Will open long positions once the pullback is confirmed.
The pullback levels are mentioned in the chart
Best of luck
Starting from 24 July when we start the retracement from 45.6 to 50.35.
Next week was a much needed correction and consolidation but we went back to the 45 level again on 30th Aug. This double bottom formation resulted in a much stronger pull back and we reached the 49.3 level mark.
I was expecting this pullback till 48.5 level mark which was 0.3 fib but we went a step further and this resulted in a much stronger correction on friday.
Currently we are at 0.618 fib and the pullback level will be the indicator where we will go
I wont be opening any position yet. Will open long positions once the pullback is confirmed.
The pullback levels are mentioned in the chart
Best of luck
Nota
We saw a great pullback today but i still think we will be bearish till 0.78 fib level.Be careful while buying it
Nota
Closed half of my position hopefully you made some money too
Dagangan ditutup: sasaran tercapai
Hope you had fun too :)
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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.