XAUUSD Trading planPattern: Triangle on 4H.
Signal: Sideways scalping as long as the price stays inside the Triangle. Sell once the Triangle breaks downwards. If it breaks upwards, sell when the RSI hits the Sell Zone.
Target: 1650 short term (or if the RSI enters the Buy Zone first). If 1640 breaks selling can be extended to 1575.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
Commoditysignals
USOIL Action plan after the InventoriesPattern: Channel Down on the 4H chart.
Signal: (A) Bearish as long as the 4H MA50 is intact and (B) Bullish if it gets crossed.
Target: (A) 15.00 (-40% fall as in the previous Lower Low sequence) and (B) 34.00 (the previous Lower High of the pattern).
Previous signal:
USOIL Why it MUST hold this Triangle. Danger for $42.5 otherwiseThe pattern is a Channel Down since the April 2019 66.60 top. However with the price rejected on the 54.60 Resistance and pulling back to the 49 region the very bearish fractal of 21 Nov - 14 Dec 2018 comes to my mind. See how both then and now the price traded within the 54.60 Resistance and 49.30 Support.
As a result buyers must defend the Lower Low zone of the long term Channel Down (which I have displayed it with the green Triangle) if they want to avoid an aggressive break down to the 42.30 1W Support (24 December bottom).
On the other hand, every time the Channel Down made a Lower Low, the price always made a pull back after the first rebound. I have illustrated that with the circles. It never jumped aggressively to a new High. So as long as the Lower Low zone holds, it is a long term technical buy.
OIL Bear Trap on important Support LevelHello Traders,
Here is a quick and simple analyses on OIL, that made an Bear Trap on important Support level, and we consider traps the most important indication of price action for decision making in trading.
We belive the price has a chance to test the next important resistance level.
Please support this publication with your like. You are welcome to follow us on the Tradingview.
Best regard Sandro and Gustavo.