DWTI
Oil: Close below 51 might trigger a big sell offOil chart doesnt look good for bulls at all, if it closes below 51 (which seems to be the "demand" line) we might see a massive sell off to last year's lows. However, seasonally oil rallies in August 70% of the time (long August 7th to 27th)
It's in "no mans land here" basically with the conflicting signals , probably safer to just daytrade it until we get a clearer picture.
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DWT (DWT) Buy Stop $5.07 >>> $5.23 (Short correction)DWT
1) Short correction.
2) Double small impulses
3) During breakdown of the first candle. growth is same size of candle. (TD)
Profit:Risk = 1:1
---
Buy Stop = $5.07
Take Profit = $5.23
Stop Loss = $4.91
------
Take Profit = +3.16%
Stop Loss = -3.07%
Crude long idea- CLBounce-a-thon
You can wait for the 50.13 resistance to break to go long
or go long now and have a stop at 47.52.
However, there seems to be a better risk/reward if you go
long after 50.13.
Be patient with this kind of setup since it's a daily chart.
Also, I'm new so please trade accordingly.
Current Algo Targets $USOIL $WTICurrent algo targets (red circles) Crude algo intra work sheet 645 AM Dec 2, 16 FX $USOIL $WTI FXCM #Oil $USO $UWTI $DWTI $CL_F #OOTT #Algo Considering the fact that a recent time / price cycle has expired algo targets are considered "soft" - waiting on confirmation. twitter.com www.compoundtrading.com
FX $USOIL $WTI Algo Worksheet IntraDiagonal trendlines are critical inflection points (blue). If one is breached you can look to pull-back to next diagonal blue trend line 90% of the time. Crude algo intra work sheet 617 AM Dec 2, 16 FX $USOIL $WTI FXCM #Oil $USO $UWTI $DWTI $CL_F #OOTT #Algo twitter.com www.compoundtrading.com
Caution shorts. Support held. Crude algo intra work sheet 334 AMCaution shorts. Support held. Crude algo intra work sheet 334 AM Dec 2, 16 FX $USOIL $WTI FXCM #Oil $USO $UWTI $DWTI $CL_F #OOTT #Algo. @EPICtheAlgo Diagonal trend line (blue), Fib line (green) and alpha algo line (red dotted) all held.