This video provides an in-depth analysis of USOIL (WTI Brent also applicable). On the weekly chart, we observe a bullish trend that has undergone a significant correction to key support levels. The weekly chart indicates that the overall bias is still bullish, but the daily chart shows a bearish market structure break. A bearish trend has not fully established yet, as the price action is forming a triangle pattern on the daily chart evidenced by lower highs and higher lows. A further downward movement that breaks the current support level would signal a possible bearish continuation scenario. This video is for educational purposes only and does not constitute financial advice.
@AlRi25, In the video I attempted to make it really clear that for the trade idea to be valid we needed to see a lower low forming. And I also mentioned that if it doesn't happen and it rally's then the trade idea will be abandoned. Maybe I didn't explain myself clearly. Given that it rallied and didn't price a lower low, then the idea is no longer valid. Hope this answers your question.
TORNADOF5
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hello , any idea how gold miners are bearish when gold bullish ? gdx /gdxj o,O new noob here
tradingwithanthony
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@TORNADOF5, I guess I don't know what gold miners are doing. I don't look at anything else other than price action on a chart. I don't follow fundamentals; I'm only interested price action as the chart will tell me everything I need to know. The only thing I will look at other than price action is upcoming calendar events so I can anticipate volatility.
TORNADOF5
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@tradingwithanthony, yes did not like this oil run as well , i still hope we get some down move correction , but seems like the war news made every one fomo on oil and energy stocks :{ i late on those it seems , but still hope i can jusp in some of them , FRO and NEE seem like beasts ,could be nice to watch your movie on those , it be amazing , thanks for your work .