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2024-08-29 - priceactiontds - daily update - oilGood Evening and I hope you are well. tl;dr Oil - News again which let the market rip for 285 ticks but above 67.7 we saw bigger profit taking and a decent pullback to the 30m ema. Kinda in the middle of the range and I am not trading there. Also no opinion on where to go next. Around 77 I favor bears to get back down again and around 74 I favor the bulls. Trading range price action. comment : Bulls had the news on their side today and strongly reversed from 74 for almost 3$. I expect another test of 77 tomorrow and there market decides if it wants to break above the weekly high 77.59 or trade back down to 74. Can also very well close exactly at the mid point 75.5. Neutral around 75-76, bearish near 77 and bullish around 74. Fade the extremes as long as market is making lower highs and higher lows. current market cycle: trading range (triangle) key levels: 74 - 77 bull case: Bulls got near the bear trend line again and found more sellers than buyers. They want at least a retest of 77 and poke the trend line. Since no side has any control for many weeks now, I don’t expect this to change tomorrow. Invalidation is below 75. bear case: Bears stepped aside after the news release but come through near the bear trend line. They defended it and want to keep this below 77 / 77.59. 76 is a bad short, so the closer to 77 they can get, the better the math. Invalidation is above 76.2. short term: Neutral. Bullish above 76.2 for retest of 77 and then wanting to fade the extremes as mentioned in the comment. medium-long term : We are seeing the big triangle playing out between 72 and 82/84. The high of the triangle got tested until mid of April and we have now tested the lows around 72.5. We are at the bear trend line and odds favor the bears if they stay below 86.27 for trading back down below 76 again. Update: If we break below 70.67, the triangle is dead and we need to find new support. Will update this again when it happens. current swing trade: None trade of the day: Long bar 7 or 8. Very strong bull bars after a climactic bear bar 7 which made a decent double bottom with bar 8 from Wednesday.
NYMEX:MCL1!
by priceactiontds
WTI Oil H1 | Potential bearish breakoutWTI oil (USOIL) is looking to make a bearish break below an overlap support and could potentially drop lower from here. Sell entry is at 74.13 (wait for the 30-min candle to close below this level for confirmation). Stop loss is at 75.10 which is a level that sits above an overlap resistance. Take profit is at 72.81 which is a pullback support that aligns with a 78.6% Fibonacci retracement level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILShort
by FXCM
2024-08-26 - priceactiontds - daily update - oilGood Morning and I hope you are well. tl;dr Oil - Breakout above happened as written in my weekly update. Only looking for longs now. Want 79 and then 80 before I expect a more complex pullback. quote from my weekly update: short term: Bullish above 75.1, bearish below 74 for retest of 72 or lower. comment : Bulls just continued on Monday and my 75.1 target was easily passed through. That trade was good for 200+, hope you made some. We are now at a minor bear trend line around 77.6 and I’d be surprised if we can just melt through that as well. The 1h ema was not touched once since Thursday’s US session. Very strong move by the bulls and decent chances we see 79 this morning. current market cycle: trading range (triangle) key levels: 75 - 79 bull case: Bulls did what I expected in my weekly outlook and their next targets above are 79 and then 80. I do think 80 can happen today or tomorrow. If bulls can break above current August high 78.99, bears will probably step aside enough for 80 to come fast. Invalidation is below 76. bear case: Bears did not want to fight this after their leg down and market move’s freely higher without any fight. News weren’t on their side either yesterday. Where could we expect a bigger pullback? 78 is a big maybe. 79/80 is where I expect it more but do not look for any fades until bears closed a bear below the 1h ema. You would be trying to short a strong bull trend and that’s mostly gambling. Invalidation is above 78. short term: Bullish for 78 and most likely 79/80 as long as we stay above the 1h 20ema. medium-long term: We are seeing the big triangle playing out between 72 and 82/84. The high of the triangle got tested until mid of April and we have now tested the lows around 72.5. We are at the bear trend line and odds favor the bears if they stay below 86.27 for trading back down below 76 again. Update: If we break below 70.67, the triangle is dead and we need to find new support. Will update this again when it happens. current swing trade: None trade of the day: Longing the breakout above 75.1 as I wrote in my weekly update. Was good for 200+.
NYMEX:MCL1!Long
by priceactiontds
USOIL H4 | Potential bearish reversal at 61.8% FibonacciWTI oil (USOIL) is rising towards an overlap resistance and could potentially reverse off this level to drop lower. Sell entry is at 76.80 which is an overlap resistance that aligns with the 61.8% Fibonacci retracement level. Stop loss is at 78.80 which is a level that sits above the 78.6% Fibonacci retracement level and a pullback resistance. Take profit is at 73.50 which is a pullback support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILShort
by FXCM
#202435 - priceactiontds - weekly update - wti crude oilGood Evening and I hope you are well. tl;dr wti crude oil: Bears answered last weeks question on Monday but bulls kept the market two sided and bears gave up at the double bottom below 72. Bulls are creating decent bull bars again and last time they did this we went above 78. Above 75 odds favor the bulls for more upside to at least 77 but we are still low enough for bears to come around and test 72 again. Leaning bullish if market stays above 74. Quote from last week: comment : Bull and bear legs alike get shorter, market is contracting further. Triangle is valid since 2022. We are in the last weeks of it. If we get a huge event where we see Oil prices skyrocketing over the next 3-4 months, you read it here first. Play the range is the name of the game. current market cycle: trading range (triangle) key levels: 70-80 bull case: Bulls printed a nice double bottom around 71 and are on their way up again. They want at least 77.5 and test the minor bear trend line starting from 2024-07-18. The last two reversal from prices below 72 both went without any pullback on the daily chart so I expect this one to just go up as well. No side is currently fighting the other too much. Invalidation is below 75. bear case: Bears got their early move below 74 and just went for 72 again. No bigger fight for 72 so bulls are doing the reversal again. There is a low chance that bears come around and want to keep it below the daily ema at 75 but i doubt it. If they do, best they can hope for is a test of 71.5 again. Above 75.1 I expect an easy and fast trade up to at least 77. Invalidation is above 75.1. outlook last week: short term: Neutral. Again. What can you do. → Last Sunday we traded 75.54 and now we are at 74.83. Low of the week was 71.47 and my target was 71/72. Hope you made some. short term: Bullish above 75.1, bearish below 74 for retest of 72 or lower. medium-long term: We are seeing the big triangle playing out between 70 and 80. No more updates until market makes higher highs or lower lows again. current swing trade: None chart update: None
NYMEX:MCL1!
by priceactiontds
1
WTI Oil H1 | Rising into pullback resistanceWTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 73.66 which is a pullback resistance that aligns with the 23.6% Fibonacci retracement level. Stop loss is at 74.55 which is a level that sits above an overlap resistance. Take profit is at 71.52 which is a pullback support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILShort
by FXCM
WTI Oil H1 | Rising into overlap resistanceWTI oil (USOIL) is rising towards an overlap resistance and could potentially reverse off this level to drop lower. Sell entry is at 74.24 which is an overlap resistance that aligns with the 23.6% Fibonacci retracement level. Stop loss is at 75.00 which is a level that sits above a pullback resistance. Take profit is at 72.18 which is a pullback support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILShort
by FXCM
WTI Oil H1 | Potential bearish breakoutWTI oil (USOIL) is falling towards a potential breakout level and could drop lower from here. Sell entry is at 72.81 which is a potential breakout level. Stop loss is at 73.50 which is a level that sits above an overlap resistance. Take profit is at 71.65 which is a swing-low support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILShort
by FXCM
Crude oil approaches bullish reversal zoneWeak Chinese demand and hopes for a Middle East peace deal on the downside, OPEC+ production cuts and geopolitical tensions on the topside. It’s amazing how the same narratives get rolled out depending on where the WTI crude price sits within its 2024 range, often reaching their crescendo just before the price turns. I wonder whether we’re about to see the same outcome again. WTI has fallen heavily over the past week, apparently on hopes for a peace deal in Gaza. That may be reason, and I hope it happens from a humanitarian perspective, but I’ve been around long enough to know narratives are often designed to fit with the prevailing price action. All I know is that the last two occasions WTI has dipped to $72.50 per barrel it’s coincided with a near-term bottom. Sitting at $73.11, the price is not far away again. I would be reluctant to buy preemptively, but should the price bounce from $72.50, it would make for a decent long setup, allowing for a stop to be placed beneath the February low of $71.44 for protection. Minor levels at $74.60 and $76.94 are two potential targets, $80.30 another considering how much work the price did either side earlier in the year. DS
NYMEX:CL1!Long
by FOREXcom
2024-08-19 - priceactiontds - daily update - oilGood Evening and I hope you are well. tl;dr Bear channel continued down and next target is probably 72 if 73.5 won’t hold. Pure weakness in this market. quote from my weekly update: bear case: Bears need a daily close below 74.5 to trade back down to 71/72. comment: Look at that beauty of a channel. Holding like a true champ. Market is much weaker than expected and only going down. Bottom of the channel is where a pullback is expected and if bears are strong, they keep it below 74.5. Next targets for the bears are 73 and then 72. Anything above 75.5 would be a big surprise. current market cycle: trading range (triangle) key levels: 72 - 75.5 bull case: Bulls are so weak that they currently can only correct sideways. They need to create a pullback at 73.4 or risk a breakout below the bear channel, where the selling would accelerate. A reasonable target for a pullback would be the breakout retest of last weeks low 74.52. Invalidation is below 73.1. bear case: Bears had a strong bear day again and a measured move would bring us to 71.5. If they manage to create a breakout below the bear channel, we could get there much faster than most expect. My drawn big bullish trend line from the triangle runs through 71.7, so close enough. Bears need to keep any pullback below 75, better would be below 74.5. Invalidation is above 75.5. short term: Pullback to at least 74.5 is expected but below 73.1 we print 72 or even 71 pretty fast. medium-long term: We are seeing the big triangle playing out between 72 and 82/84. The high of the triangle got tested until mid of April and we have now tested the lows around 72.5. We are at the bear trend line and odds favor the bears if they stay below 86.27 for trading back down below 76 again. Update: If we break below 70.67, the triangle is dead and we need to find new support. Will update this again when it happens. current swing trade: None trade of the day: Mostly sideways during Globex and EU session. US session opened weak and when bulls could not get above 75.5 again, bears tried again and bulls just gave up. Had to be short since the bear bar breaking below 75 and the 1h 20ema.
NYMEX:MCL1!Short
by priceactiontds
WTI Oil H4 | Potential bullish bounceWTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 76.01 which is a pullback support that aligns with the 50.0% Fibonacci retracement level. Stop loss is at 74.40 which is a level that lies underneath a pullback support and the 61.8% Fibonacci retracement level. Take profit is at 78.34 which is a pullback resistance that aligns with the 61.8% Fibonacci retracement level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILLong
by FXCM
WTI Oil H4 | Falling to pullback supportWTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 77.08 which is a pullback support that aligns with the 38.2% Fibonacci retracement level. Stop loss is at 75.50 which is a level that lies underneath an overlap support and the 50.0% Fibonacci retracement level. Take profit is at 79.82 which is a pullback resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILLong
by FXCM
WTI OIL Short-term pullback possible but doesnt change the trendLast week (August 06, see chart below), we made a strong bullish case on WTI Crude Oil (USOIL) and why on the 1M time-frame, the long-term target is $110.00, a symmetric approach on the 10-year Super Cycles: Today we shift back to the shorter term 1D time-frame, as the price went from $73.00 to $80.00 within a week, and we are looking for potential pull-backs. Short-term corrections on medium-term Channel Ups have been common in the past 1.5 year and are displayed by the red ellipse patterns. Yesterday's rejection took place on the 1D MA100 (green trend-line), which is something that also took place on January 29 2024. Assuming that a new Channel Up will emerge, we expect it to reach at least the 1.5 Fibonacci extension at $91.50, similar to the April 05 2024 High. There are numerous Resistance levels involved this time however, with the strongest being the Lower Highs trend-line that started after the September 28 2023 High. As a result caution is advised once the price approaches that level. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
WTI Oil H4 | Bullish uptrend to resume?WTI oil (USOIL) has bounced off a pullback support and could potentially climb higher from here. Buy entry is at 78.66 which is a pullback support. Stop loss is at 77.90 which is a level that lies underneath a pullback support. Take profit is at 82.01 which is a pullback resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILLong
by FXCM
2024-08-13 - priceactiontds - daily update - oilGood Evening and I hope you are well. tl;dr Oil - Bears showed signs of life, rejecting 80 with decent selling. Still an inside bar to Monday and bulls bought it at the bull trend line. Below 78 bears start hoping again, but it’s more reasonable to expect more upside. At the very least a retest of 80 and if bears are strong, they try to keep that resistance. comment: Expected pullback by the bears and bulls bought the bull trend line. Everything in order so far, retest of 80 is expected. If bulls are strong, we will break above for 81 or 82. Below 77.6 bears could get hopeful and again but I doubt it. Daily ema is at 77.2, so that would be their first target. current market cycle: trading range (triangle) key levels: 77 - 82 bull case: Bulls tried twice at 80.15 and then mostly stepped aside after bears increased the selling pressure on bar 37/38. They bought the bull trend line and want a retest of 80 from here. If they fail to keep it above the bull trend line and 77.6, they risk that 80 was a lower high and bears might try to sell down to 72 again. Since Monday was so strong, more upside is the higher probability outcome over the next days. Invalidation is below 78.6. bear case: Bears generated decent selling pressure and retest the bull trend line. I don’t think they want to fight hard for 79 and will try to keep it below 80 again. If they would manage to break below the bull trend line, their next target would be the daily ema at 77.2. Invalidation is above 79. short term: Bullish above 78.8 for retest of 80. Bearish below 77.6 for more downside. medium-long term: We are seeing the big triangle playing out between 72 and 82/84. The high of the triangle got tested until mid of April and we have now tested the lows around 72.5. We are at the bear trend line and odds favor the bears if they stay below 86.27 for trading back down below 76 again. Update: If we break below 70.67, the triangle is dead and we need to find new support. Will update this again when it happens. current swing trade: None trade of the day: Sell below bar 37. Can take most off at the double bottom bar 50 + 54 and exit runner once the market reached the bull trend line and refused to trade below it.
NYMEX:MCL1!Long
by priceactiontds
USOIL H4 | Pullback resistance at 61.8% Fibonacci retracementUSOIL is rising towards a swing-high resistance and could potentially reverse off this level to drop lower. Sell entry is at 78.63 which is a swing-high resistance that sits under the 61.8% Fibonacci retracement level. Stop loss is at 80.70 which is a level that sits above a pullback resistance. Take profit is at 76.01 which is a pullback support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILShort
by FXCM
#202433 - priceactiontds - weekly update - wti crude oilGood Evening and I hope you are well. tl;dr wti crude oil: Most interesting currently. Bulls got right to the upper bear channel and the daily 20ema. Bears have a do or die moment here. If they fail, we can rally all the way back up to 80 and if bulls fail, we likely test back down to at least 72. Quote from last week: comment : Bears are in a hurry and hit my lower target of 73 way ahead of time. My bearish targets are met for now and market is at the bottom of the bear channel and hit a bull trend line. If this won’t hold on Monday/Tuesday, we will see 65 in the next 2-3 weeks. I do think Oil is currently a prime example of why it’s important to learn to read charts and not the f*****g news who wants to tell you every week why Oil is going up due to macro event xyz. Only thing mattering next week is how high the pullback will be to see if we stay inside the triangle or break below. On the weekly/monthly chart the triangle pattern is coming to an end and we will likely see a bigger breakout over the next weeks or months. If this coincides with a macro event, well… You read it here first, many months before the event. comment: Pullback right to the bear trend line and daily 20ema. As foretold. You welcome. Right. Bullish targets met and do or die moment for bears. Bear trend line has to hold or we stay inside the big triangle and targets above will be 79 and then 80. Not more magic to it. current market cycle: trading range (triangle) - nested bear trend inside could still be valid if we reverse on Monday key levels: 70-80 bull case: Bulls kept it above 71.5 and bears gave up on Wednesday. Easy so far. Bulls now need a break above the bear channel and a daily close above it to make most bears cover. If they do that, we will likely see a quick move to 80 again. Invalidation is below 75. bear case: Bears need to stay inside the bear channel or the minor bear trend is over. Below 75 I think the odds favor the bears again to trade back to 72 or lower. Given the pattern from the bull trend in June, it’s probably a bit more likely that bears are done for now and we trade back up to 80 but we will find out on Monday. Invalidation is above 78. outlook last week: short term: Neutral and expecting a pullback but need some bull bars first. If market drops below 73, I will scalp short for 70.7 or lower but anything below that is oversold and I’m out. → Last Sunday we traded 73.52 and now we are at 76.84. 70.07 did not get hit but short below 73 was still good for 130 ticks. Pullback after, so another banger of an outlook in Oil. short term: Neutral. Need strong momentum to either side and will join in that direction. Leaning very slightly bullish for a break above 78. medium-long term: We are seeing the big triangle playing out between 72 and 82/84. The high of the triangle got tested until mid of April and we have now tested the lows around 72.5. We are at the bear trend line and odds favor the bears if they stay below 86.27 for trading back down below 76 again. Update: If we break below 70.67, the triangle is dead and we need to find new support. Will update this again when it happens. current swing trade: None chart update: Two legged correction was almost perfect to the tick. It’s done for now and I removed it.
NYMEX:MCL1!
by priceactiontds