Get started

Crude-oil

Crude oil long opportunity USOIL WTICOUSD CL2!We have a long opportunity in crude oil now. Crude oil has been sitting at the 61.8% retrace around 45.40ish for the last couple of days. A study of the longer term cycles shows that we have just completed a corrective red zone which actually started in March 2018, this cycle reached a low in December 2018 and will reach its next high in June 2019. We are still in a green (bullish) longer term zone which started January 2016 and should end around July 2019. These cycles are represented by the different types of vertical lines on the charts. I believe after August 2019, we will have the chance to short oil once again. If the 61.8% retrace does fail, then we may see a drop to $36-40, so be careful. Stop loss 44.90 Short term target 51 Longer term targets range from 62 and up. This is not recommendation to buy or to sell. (see information about cycles at the DJIA links below)
FX:USOILLong
by cedarfox
2
Crude oil target low - WTI will reverse It's likely the target low is the 200 MA on the 2 month chart. It reversed from the 200 MA on the one month chart. So we're looking for a reversal around the 44 dollar mark but we would expect a shadow candle to go through so maybe 40 dollars tomorrow before the rate announcement. After that we are expecting a reversal regardless of the decision. We think this US dollar markett has already priced in the rate hike and is now just looking for a catalyst basically to reverse on. CL has been tracking a fairly standard fib pinball game from its all time high. Once the rally gets underway 90.00 for a high is not out of the question but it's a bit too early to predict a top.
NYMEX:CL1!
by graham.edwards84
Oil reports can give some support to oil bullsIn the latest monthly oil reports the demand growth forecasts didn't change and slowing production growth in H1 2019 due to production cuts could bring some stability around the 50% fibonacci level and could also give some short term support for bulls. This could lead to retesting the broken trendline while the first resiStance at around 60-61 which could a tough hurdle to the bulls given the stockpiles built up in 2018, following this a further drop probably in mid January/February will follow with new lows below 50 dollars to form the "c" wave. Given the stregth of lvl 50 the move below could be either just a spike or a bigger move well into the 40 dollar area. However if the 60-61 zone will not hold, the next supply zones could be at 64-65 (double top neckline) and the strongest supply zone could that has to be broken by the bulls is 72-76. However this scenario is unlikely unless some extreme situations will occur.
TVC:USOILLong
by LandofTrading
1
WTI 2018-11-26 possible breakout setup Small pivot range set from last session into current Value area overlapped and down from last session POC's basically same and aligned for past two sessions Previous session looks like an 'expanded typical day' following the previous session of a 'double-distributed trending day' Plan for 27th: Wait for IB to be set. Could help add clarity as to market type options for 27th Consider how price moves out of IB Consider a position if price clearly breaks the S4 or R4 pivots Watch price action around important lines like previous sessions' VAH/VAL, POC, and current session's Camarilla pivots S3/4, R3/4 Watch for candles that signal some type of reversal or direction change at these levels and where buyers/sellers may come in.
TVC:USOILShort
by mxb1961
WTI 2018-11-25 Watching opening price IB for directionIn his book "Secrets of a Pivot Boss", Frank Ochoa walks through the 7 types of market days a session (day) could be. I'm interpreting Friday as a 'double-distributed trending day'. In this type, the market will set some early distribution, drop, then distribute a second time later in the session. The following session could be some type of consolidation which he enumerates through. One of the market types is an 'expanded typical day' where price has a medium size IB (Based on recommendations from the person who introduced me to these concepts would be the first 2 1/2 hours of trading (first 5 candles on 30 minute chart)) then potentially break above or below it and range remainder of day. Another option could be a 'trading range day' and would be indicative of a large opening IB (initial balance) and then active trading between the range for remainder of session. There are some items I've noted on the 30 minute chart. First, there is an S4 yearly pivot at the 49.9x level. Second, there is a line where two POC's (fair value) aligned at the 49.1x level (from Q3 & Q4CY17). I think it's these two QTR's and their setup that led to 2018 bull run. Third, on Friday, price touched a POC from Q4CY16. All 3 of these could provide temporary support Monday and the various market types could possible touch them depending on how the IB shapes up. Daily Chart: Price could just drop again too into either a 'trending day' or another 'double-distributed trending day' too.
TVC:USOILShort
by mxb1961
3
WTI CRUDE . Long term Target HiTI posted a chart on 10th MAY, WTI can potentially reach 76/78$ before it drops .. The long term target has been hit, More downside is really temporary for me right now. Worst case scenario is $48 but 51.5/52$ should hold strongly. I expect a massive upside upto $100/104 from here. Not maybe would agree to that but I would be loading up from 53/51/48. everytime it touches these levels. As the downside Risk looks far less than upside. I have attached my MAY 10th Call for Short.
FX_IDC:USDWTILong
by shaxrashid
8
You need water to survive in the desert. An Oil bull is around )Got the title? :D This is what Oil bull saw: This is what they should have seen: By the way, the dow is in a similar situation to Oil a few months ago, it MIGHT reverse (with these 650 billion borrowed $), not shorting it yet, but I sure am not going long I am telling you this. It's all just a war between bulls & bears. In my opinion, a good countertrend/reversal trader will now wait for bulls to show up, and start winning some battles. Yes a v shape is possible (is it actually?) but I think it is very unlikely, I'd rather miss out something that happens once every 15 times. The bulls got rekt so hard smh. Whether you are trend following or counter trend, you got to know when the war is starting to look bad and run away like the dirty coward you are. This is a war where scheming deceitful cowards win, not "never give up never surrender" heroes. If you want to be a warrior, join the counter trend traders but wait for others to fight for you first, then charge and help the losing side turn the tide. There is no way (that I know of) to do this mecanically or write it down, it's all an art, a discretionary art. I strongly believe doing things this way is far more dangerous than simply following the trend. The thrill of the hunt <3 I will look for the bulls to show the tip of their noses before the box to consider joining them in the box. Will update this. For now I am just pointing and laughing @ reKt bulls.
TVC:USOILLong
by MrRenev
1
12 NOV WTI / Crude oil Wyckoff + EW 15 M Short + Long scalpsHowdy folks! I have erroneously assumed the WTI is doing an accumulation - whilst it has one on M15, it has failed the BU/LPS stage and the rejection at the trendline enforces the belief that we are actually witnessing a re-distribution, currently making its way to SOW stage. Whilst bias is bearish (with sights set on 58,8 - 58,6) there will be a handful of long scalping opportunities. I contemplate entering on the short side upon open of the market on Sunday, bailing out @ previous LOD, loading long scalps there for 59,7 -,9 again and then shorting from there to $58. I will try to update the chart based on PA. GL!
FX:USOILShort
by ivanov.v.vlad