The impact of OPECs cut-back by 2M barrels production daily manifests in higher prices. Oil will retrace to 79 then surge to 86 before Jan 2023
What next: Wait for the dip then go long
1. Price hit a order block at 79 on the hourly chart. Order blocks are magnets for price. From here, prices will drop
2. Trader’s Dynamic Index and signify extreme momentum at overbought levels. Minor correction required.
3. Navarro in place. Target price is 86
Remember: life often disrespects charts so trade with caution
Market order position upon the confluence of valid entry rules on the 4H or 1H chart.
Trading philosophy: Don’t short at the lowest of the momentum nor do you long at the peak of a impulse. The safest entries are at the end of a retrace on the 38.2%, 50%, 61.8% or 78.6% fibonacci back in the direction of the master trend.
For Institutional ORDER BLOCK trades:
When price reaches a or orderblock, ascertain the price reversal by means of
2. Morning/evening stars
3. Several wicks.
4. candles or in the opposite direction
5. Marbouzou in the opposite direction.
6. Break of trendline or fast EMAs
4H chart should confirm that the retrace had turned in the direction of master trend. The should have dropped below zero signifying a environment. Price would have dropped below the 10 and 20 . For good measure, check that the 4h and D1 is below the 50 signal line
4H chart should confirm that the retrace had turned in the direction of the master trend. The should have gone above zero signifying a environment. Price had gone above the 10 and 20 . For good measure, check that the 4h and D1 is above the 50 signal line
The 4H, 8H and 12H chart can reveal hidden divergences on the , , Index, CMFI, and Stochastics. When one or more divergences manifest- be ready. Trend reversal is coming. My best practice is to wait for at least an divergence on the 4H, then drop to M15 to see price shifting with a 50EMA aligned with the 4H divergence.
I am not a financial advisor nor a signal provider. These are the opinions of a 20-year private trader in the legal profession as well as a businessman diversified in the tech and hospitality industries. My favored tools of the trade include wave analysis, price action on the 4H to Weekly timeframes and institutional order flow ( data).
In partnership with capital markets research group Plazo Sullivan Roche Capital of Mahe, Seychelles. Do your own research.
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