USOIL - Bearish BAMM, Bullish Bat and Market Structure

6 בדצמ׳ 2017

Today I've brining you all an in-depth view on USOIL, firstly I'll break down the base of my analysis on the 1h chart which shows two setups, bearish bamm and bullish bat.

The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886

I understand the BAMM theory will be relatively new to most traders, this style of trading simply focuses on a breakout of the B point.

Upon a break and close below/above B, in this situation below, I look to capitalise on the move towards D which confirms the potential reversal zone of the bullish bat pattern.

We can see there has been various tests of this level.



Taking a look at the daily chart below we can see a clear demand zone between roughly $55 and $54 which aligns with the support trendline.



I'll be looking for a sell off to drive prices towards this area, from there I can further analyse the bullish bat for a long opportunity if this level of support holds.

Although, I do expect price to drop lower than D to the demand zone at X.

If you have any analysis to contribute feel free to leave it below :)

6 בדצמ׳ 2017

עסקה פעילה

Short, target is 55.28.

6 בדצמ׳ 2017

הערה

Move stop loss into profit, price is now closing in on the D point.

8 בדצמ׳ 2017

עסקה סגורה: הגיע לסטופ

Closed at breakeven, look for price to drop from resistance at B... Possible opportunity to re-enter.