Here I have USOIL on the 4Hr Chart!
The beginning of this week seen what was a Fake-Out of the Bearish Break of this Bullish Channel!
Now typically in this case, a Bullish Channel preceded by a Strong Downtrend move signals a Trend Continuation pattern in the potential form of a Bear Flag!
With this possible trade idea, my expectation is that we look for a VALID BREAK to the DOWNSIDE!!
BUT there is always the possibility Oil was able to find enough Support after having visited the 68 - 67 Support Area!!
With that being said, Lets see which way OIL BREAKS?!
The beginning of this week seen what was a Fake-Out of the Bearish Break of this Bullish Channel!
Now typically in this case, a Bullish Channel preceded by a Strong Downtrend move signals a Trend Continuation pattern in the potential form of a Bear Flag!
With this possible trade idea, my expectation is that we look for a VALID BREAK to the DOWNSIDE!!
BUT there is always the possibility Oil was able to find enough Support after having visited the 68 - 67 Support Area!!
With that being said, Lets see which way OIL BREAKS?!
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
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.
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
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.