更新済

USOil | New perspective for the week | Follow-up detail

The previous month witnessed a 4% drop in oil prices despite the OPEC+ member's decision to cut a further 1.7 million barrels from its daily output, adding to an earlier pledge from November to take off 2.0 million barrels per day. The implementation of this pledged cut is supposed to begin next month - May 2023 and this could result in some interesting market influx as the month starts in the coming week. In this video, I shared with you my thought process from a technical standpoint as we plan to take a decisive position ahead of the market opening.

Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

ノート

The new month started with a bearish gap which insinuates the perspective of trading activities during the course of the weekend. I have marked our structure on the chart which shall be the parameter we will be using to guide the trading activities.

Good morning

トレード稼働中

Fall out from our live session this morning; secure sell position

トレード稼働中

Outlook on the 15-minute timeframe;
breakdown/retest of the 74.95 welcomes more opportunities to add to our existing position. However, a breakout/retest of 75.10 will welcome counter-trend opportunity - a retracement of the bearish impulse leg.

トレード稼働中

Sell pressure continues, secure sell position

ノート

Buying pressure resumes as price action finds higher low with a potential of breaking the trendline to the upside.

Good morning

ノート

Fallout from our live session this morning

トレード稼働中

Secure all sell positions

トレード終了: 利益確定目標に到達

Tp target hit with 500pips in profit on two positions

トレード稼働中

Following a profitable start to the month for us, the price tested the 71.50 level yesterday and has since caught within a consolidation around that zone ahead of the interest rate decision from the US economic docket. Are we going to see a reversal from this key level or a trend continuation to the downside? An update on a lower time frame coming soon.

Good morning

ノート

outlook on 15-minute time frame;
please note that we await confirmations after breakout

トレード稼働中

Secure sell position

トレード稼働中

Secure sell position

トレード終了: 利益確定目標に到達

TP target hit with 400 pips. We shall talk on this in detail during the live session

Good morning

ノート

Fallout from our live session

トレード稼働中

Secure sell position

トレード稼働中

Selling pressure continues

トレード稼働中

After being taken out of the previous sell poision, price action triggers buy order followed by the breakout and price action appears to be going through the retracement of the breakout of the neckline @ 69.30.

トレード稼働中

It is time to secure all the buy position as price action breaks out of the neckline at the 69.30 level for the second time in the last 12 hours. More details during our live session today.

Good morning

トレード稼働中

Fallout from our live session, secure position

トレード稼働中

More buy positions added, secure the buy positions as we look out for more opportunities

トレード稼働中

Secure all buy positions as we are not sure if the buyers will be able to hold this momentum following positive and beyond-expectation data from the NFP.