USOUSD (WTI Crude) strong bullish move likely … week of 26 Aug
A ‘hammer candle’ is one of my favorites and we can see a nice one in the weekly chart of oil. It also appears at a major support (73.00) and at a rising trend line. If you are not a fan of the hammer candle like I am, just look left on my chart and see what happened in the past when this candle appeared.
But “when” to trade is always a question, directional bias is only a part of our decision making. I will, first of all be looking for USD weakness and CAD strength (correlation). Monitoring PA on the H4 and H1 is always a good idea too. Evidence of bullish PA would justify taking a long trade. However, if a move to the downside forms, that would negate my analysis.
This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
If you like my idea, please give a “boost” and follow me to get even more.
Please comment and share your thoughts too!!
It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
But “when” to trade is always a question, directional bias is only a part of our decision making. I will, first of all be looking for USD weakness and CAD strength (correlation). Monitoring PA on the H4 and H1 is always a good idea too. Evidence of bullish PA would justify taking a long trade. However, if a move to the downside forms, that would negate my analysis.
This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
If you like my idea, please give a “boost” and follow me to get even more.
Please comment and share your thoughts too!!
It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Transaction en cours
The 'hammer' candle does not fail again.
Trade is making nice steady profits.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.