OIL - History Repeats Itself... ⚡️⚡️

15 Oca 2022

In the market we see patterns and price action repeat itself over and over again. This is the very framework of technical analysis - where we forecast future price action based on historical price patterns.

In one of our previous posts, we looked at a very similar price behaviour from EURUSD where we had the same sequence of price action play out almost identically to historic price action. See below:

EURUSD went on to play out exactly how it did previously.

Here we have USOIL making eerily similar price action before. We have the following:
1. Bullish correction
2. Major impulse
3. Minor impulse after a brief retracement
4. Double top... Kinda = The second peak went above the first peak
5. Major Drop

It is possible that we'll see very similar price action now in Phase B and have a major drop just like we did in Phase B.

Trade Idea:
- Watch for price to break the double top and then reverse
- Enter with stops above the highs
- Long term target will be the structure level indicated in the chart (5000pips) but take your positions off gradually

Goodluck and as always, trade safe!

16 Oca 2022

Not

Be sure to check out the new DXY trade idea - where every move makes sense!

17 Oca 2022

Not

USOIL - Watching this trendline for confirmation on shorts

24 Oca 2022

Not

USOIL Update - Price went onto pierce the double top and then reverse... Just as we anticipated! Hope you guys managed to get in!

26 Oca 2022

Not

Have a look at the new post on USOIL which will blow your mind... it sure did blow mine!