WTI Crude Oil: Mastering Price Action for Profitable Trades!

USOIL
ALEXGOLDDHUNTER Chart Analysis: WTI Crude Oil 1-Hour Timeframe
Key Levels and Zones
Support Levels:

Around $68.70 - $68.80

$69.50 (Break of Structure - BOS)

Resistance Levels:

Around $70.00

$70.16 (Short 2022 Model)

Fair Value Gap (FVG):

Between $69.80 - $70.00

Indicators:

RSI: 61.59 (neutral to slightly bullish)

MACD: Shows bullish momentum with the MACD line above the signal line

Volume: High trading activity around key levels

Buy Strategy
Entry Point:

Look for bullish candlestick patterns (e.g., hammer, bullish engulfing) near the support level around $68.70 - $68.80.

Confirm the trend continuation with a Break of Structure (BOS) above $69.50.

Stop Loss:

Place a stop loss below the recent support level at around $68.50 to minimize risk.

Take Profit:

First target at the 0.5 Fibonacci level around $69.80.

Second target at the Fair Value Gap (FVG) between $69.80 - $70.00.

Sell Strategy
Entry Point:

Look for bearish candlestick patterns (e.g., shooting star, bearish engulfing) near the resistance level around $70.16.

Confirm the trend continuation with a Change of Character (CHoCH) below $69.50.

Stop Loss:

Place a stop loss above the recent resistance level at around $70.30 to minimize risk.

Take Profit:

First target at the Break of Structure (BOS) level around $69.50.

Second target at the support level around $68.70 - $68.80.

VIP Signal Format (lowercase)
entry: $68.70 - $68.80 (buy) tp1: $69.80 tp2: $70.00 sl: $68.50

entry: $70.16 (sell) tp1: $69.50 tp2: $68.70 - $68.80 sl: $70.30

Disclaimer
This analysis is for educational purposes only and should not be considered financial advice. Trading financial instruments involves significant risk, and you should consult with a qualified financial advisor before making any investment decisions.

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