Good Evening traders;
First of all make sure you are following the signature at the bottom of this idea...150 pips profit secured today.
Now lets get into it;
Oil had some slight pullbacks but ultimately we closed bullish...I never say never but 80.20 is highly unlikely at this level so 84.50-30 now becomes my region of interest for a swing buy. This level is still possible as should any of the current structure give way then the old structure lies below at the stated zone. PLEASE DO NOT THINK I AM BEARISH...I HAVE BEEN CALLING $90+ SINCE DEC 21 BUT I AM MERELY SHOWING THE POSSIBILTIES OF PULLBACKS BEFORE THAT REGION COMES THROUGH.
If OIL starts pushing any higher into the $90s before a retest of $84.50-30 then it will do so quickly and with volatility. Ultimately I am waiting on a manipulative drop to buy oil but I need to sit on my hands and wait for this. My bias hasn't changed and I have marked my next regions of interest. The longer oil goes on without a proper correction (Lots of untested regions of support) the harder it will fall when it does...this is why I am waiting for the drop first.
Oil reacted perfectly with all given zones today.
First of all make sure you are following the signature at the bottom of this idea...150 pips profit secured today.
Now lets get into it;
Oil had some slight pullbacks but ultimately we closed bullish...I never say never but 80.20 is highly unlikely at this level so 84.50-30 now becomes my region of interest for a swing buy. This level is still possible as should any of the current structure give way then the old structure lies below at the stated zone. PLEASE DO NOT THINK I AM BEARISH...I HAVE BEEN CALLING $90+ SINCE DEC 21 BUT I AM MERELY SHOWING THE POSSIBILTIES OF PULLBACKS BEFORE THAT REGION COMES THROUGH.
If OIL starts pushing any higher into the $90s before a retest of $84.50-30 then it will do so quickly and with volatility. Ultimately I am waiting on a manipulative drop to buy oil but I need to sit on my hands and wait for this. My bias hasn't changed and I have marked my next regions of interest. The longer oil goes on without a proper correction (Lots of untested regions of support) the harder it will fall when it does...this is why I am waiting for the drop first.
Oil reacted perfectly with all given zones today.
