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Brent-wti

Time to wait on Crude Oil by ThinkingAntsOkToday we will analyze a weekly chart after the price reached our expected target. The way we analyze the chart is focused 100% on identifying major support resistance zones and forecast the possible scenarios there, either for a reversal movement or a continuation one. Also, we support our analysis by looking at similar situations in the past and understanding what the price did. Without further ado, here is our view on Crude Oil. a) The price is on a Major support zone. We can see in the past how the price reacted there several times b) Based on the previous scenarios, we can see that before breaking the current level, the price formed a weekly corrective structure of 2 months duration. c) Our Short Scenario will be to wait for a clear corrective structure with a similar duration of the previous one, and then we will aim to develop trades to the next support zone at 27.47 d) Our Long Scenario needs the price to reach the 54.5 zones; there we will wait for a quick reaction on a lower timeframe such as 4HS and, we will aim to develop long setups towards the next resistance zone at 61.95 e) We are Swing traders that means that we are focus on catching trends and not inner movements of corrections. That's the reason we wait for clear setups that present high-quality opportunities. f) Check the link to related ideas if you want to keep learning the way we trade crude oil, Have an amazing week!
NYMEX:CL1!
by ThinkingAntsOk
1
Daily View + Trade Idea on Crude Oil by ThinkingAntsOkUse this as a guide to develop your setup: a)Based on the post we upload yesterday on Crude Oil we have developed a short setup (check related ideas) b)Our Entry / Stop / Break Even / take profit has been set. c)We expect a continuation of the bearish movement towards the next support zone d)We can see 2 circles on the chart that are similar situations, and the previous one helped us to develop this idea based on the technical aspects we currently have. e)We always take all our trades to a 1% risk. f)The Risk reward ratio on this one is 1:2
NYMEX:CL1!Short
by ThinkingAntsOk
Shorting BRENT / Retest of resistance and bearish contractionToday is the day Oil ( Brent and WTI ) continue to take further losses. An article helped the OIL market yesterday but that article was a cry for funding and in reality, cannot solve the current Coronavirus problem... the WHO downplayed the "breakthrough" and sentimental are back on selling BRENT and WTI and the technicals agree. The RR is very solid here and we expect strong losses throughout today based on what the charts are showing us. We will look to move our SL into BE/SP (break-even / Small profit) once a breakout is established (candle closes) below the contraction or out of it on the 4H.
TVC:UKOILShort
by PrimedGroup
Short Setup on Crude Oil Futures by ThinkingAntsOkUse this asa guide to develop your setup: Main items we can see on the Daily Chart: -The price was rejected from a major resistance zone. -The ascending channel has been broken. -Currently we can see a corrective structure (continuation pattern). -Our forecast is a continuation of the bearish movement towards the next support zone. -We will trade this instrument as it is shown on the char. -We will cancel this trade if the price goes above the stop zone.
NYMEX:CL1!Short
by ThinkingAntsOk
1