USOIL MARKET OVERVIEW

1 thg 5, 2022

USOIL - MARKET OVERVIEW

At the start of the week USOIL came look bearish but made a great recovery and pushed to the upside before a classic weekly closing sell off. It's important to focus on the higher time frames right now as we can see USOIL made a new higher low but failed to make a new higher high and was met by a strong resistance area and even had a fake out. USOIL is still fuelled by the conflict in Europe and it will continue to have a strong grip until tension can be settled (it can move any direction at any time).

Economies are struggling and feeling the burn so they will look to try and decrease prices to ease the effect it is having the global economy. I am Neutral and slightly bearish on USOIL, above the top blue zone we will see a quick move to the upside and below 98.70 there should be a sell off.

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Pip count this week 💰🏆 / +1035 pips

WTI SHORT / 74 pips ✅
GBPUSD LONG / -26 pips ❌
WTI SHORT / 185 pips ✅
WTI SHORT / -10 pips ❌
GOLD BUY / 70 pips ✅
GOLD SELL / 170 pips ✅
WTI SHORT / 200 pips ✅
GOLD SELL / -30 pips ❌
GBPUSD SELL / 67 pips ✅
GOLD SELL / 30 pips ✅
WTI SHORT / 60 pips ✅
WTI SHORT / 130 pips ✅
GBPUSD SELL / -30 pips ❌
GBPUSD SELL / -15 pips ❌
WTI SELL / -70 pips ❌
WTI BUY / 100 pips ✅
GBPUSD SELL / 20 pips ✅
GOLD SELL / 110 pips ✅

18 trades taken

12 wins ✅
6 losses ❌

66% win rate