CL-OIL
CL prediction for the coming hour For intraday investment, we expect that the CL could be in an upward trend for the next hour, Signs assure that, especially the new high volume in comparison to previous ones.
What we will wait for is this increasement and a new red volume that confirms sellers are taking control again, so taht we can sell and take profits.
Oil - TP1 and 2 hit - can we get the third.or more information on our strategy please view our 'Scripts' page on our Trading view profile.
Our V2 strategy shows the SL and multiple TPs on the chart too - these are customisable based on the ATR of each pair.
We have set these so that TP1 is 1:1 TP2 is 1:2 TP3 is 1:3 RR.
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Regards
Darren
Blue FX
OIL: At a decision point.To go higher, oil needs to keep gaining levels. Looking at the four hour, it looks like momentum to the upside has been slowing down, notice the smaller candle sizes.
If we don't make a higher-high, then we're probably going to go back and test support. And, I have a feeling that bid support lower is not that strong.
If oil prices turn south, then CAD/NOK/NZD/AUD will also go lower. (FX)
oil, cl trading oil : looks to be getting some relief from the restriction of retail trading on the front contracts and the ETF's pushing there buying further out in the cycle but the condition that caused negative prices has not been resolved so remain leaning on the short side, looking long term for the major turn point.
OIL Potential Strong Bullish SwingTrade Background:
Oil has consolidated at new support level at $49.30. Where price traded at support level for over a week. Now price has rebounded not too far from the next resistance level. Look for a potential swing to top side of the trend. This scenario has three key fundamentals to keep in mind being trade war, corona virus, market risk appetite and supply cuts.
Trade Idea:
Entry: 50.00 to 52.50
Stop loss: 48.50
cl, oil, day trading for Feb 7th 2020 as of typing oil is testing support of the red zone bottom and this would be the break of yesterdays range bottom, non rth session has traded inside the range of yesterday so a decent move could happen on break.
I will watch the reaction on this break and probably short a retrace if the move is outside the red bottom.
oil, cl, day trading for Feb 6th 2020 today oil does not have a real red zone, so placing it at support and resistance area of a 5 day consolidation.
I will be trading red top to balance (dashed line) and red bottom to balance in a small trend back and forth method until oil gets out of this range or provides more information.
So i say big range chop for the time being.
oil, cl, day trading for Feb 5th 2020from last session close oil has been moving up to the top of yesterdays early session and is finding a happy place there. If not break above red top then will not even think long, and last nights low is the area I will look to see if oil is finding buyers. So that said will be looking to trade this range from 49.25 to 51.50 and looking for impulsive trends inside the range until we clear this zone.
cl, oil, day trading for Feb 3rd 2020From last close oil has been balanced long and in a decently tight consolidation looking for it next move. As always watch the red zone for the first directional clue. A move lower could come fast and expect a move higher will be more grindy, but what do I know, this is only my thoughts. The trick is let the market prove me wrong and take advantage of what it is showing you..
I like the idea of a Red zone bottom bounce and then see if we can break out the top of the red zone.
If teh bottom lets go will change my long view very fast.
oil, cl, day trading for Jan 31st 2020Oil is in a big consolidation and has a smaller break zone. This is why showing 2 red zones, the bigger zone is more for a trend or swing type trade or heads up of primary direction and also support and resistance for turning points. The smaller red zone will be good for intraday trading showing chop or small trend for the day.
I will be looking for 53 and then a turn back down as plan a.
oil, cl, day trading for Jan 29th 2020The action is balanced long and looks to want to move higher as long as red zone bottom holds. down side has some very close targets so a move down could be just a peak below to see if there is any action so watch for buys around these areas if short.
The move above red high has more aggressive targets and looks to me to be where the bigger moves could come.
In the event we move down into Mondays range then I say the long side is done for a bit in a bigger picture.
cl, oil, day trading for Jan 28th 2020Today we have a up move inside a balancing range so will be look at 2 things, 1) a move below the top dashed line for a trade back to bottom dashed line and possibly to the Red zone bottom. If Red bottom break then a move through to 52.
2) is a move above the top of Red zone or a bounce of top dashed line for a run to 55.
3) A consolidation day looking for the longs off bottom and shorts off the top.
Ask me question if you need more info on how to play the different ideas.