oil, cl, day trading for Jan 24th 2020Oil is balancing as it gets ready to tell us what it plans next. not only is this info critical for the day trade ( that is fine just staying in the Red Zone for back and forth action) but also critical for the oil big picture trade also. I targeted oil down to 56 area before big decision time and now we went a little lower. On the chart are lower important big picture supports.
So all this said will trade the balance unless the oil market picks a side by moving out of the Red zone.
Oil(wti)
oil, cl, day trading for Jan 23rd 2020Well we hit my 56 area and things got interesting. I will be stalking a long term long side trade if it set sup, but now that we are under 56 for today the Red zone is very important and looks like lower we will go. So today will be leaning on any short set up, however a move back above 56 dot 25 I will look for day trad longs back into the high 56's to low 57's
cl, oil, day trading for Jan 21st 2020Oil has moved back down to the pricing level it hang out at most of last week and would balance out well with a move to 57. This also give oil a bigger range to slosh around in between 60 and 57.50.
Will watch red zone for breaks or rejections to give me my days directional leaning or days range to trade.
cl, oil, day trading for Jan 17thThe current action is bullish and to me looks like it wants higher, however what i think is not important. What is important is what happens.
The best thing for me or plan A would be move down that I can gt long and move to the 59.5 target.
Plan B would be a move down back into the prior distribution into the 58 area.
Plan c is shorting tops and long bottoms of the red zone.
USOIL (WTI): Trading Plan & Top Down Analysis
hey traders,
a lot of followers have asked about my thoughts on WTI and when can we expect a pullback after a selling rally.
currently, I still have a short trade active from 63.0 level BUT
the market has finally reached first strong structure support and analyzing a price action it looks like
indeed selling volumes are weakening.
on a weekly and on a daily you can see a very peculiar conjunction of vertical and horizontal support.
on 1h the price started coiling within a falling channel .
for us, a bullish breakout of it will signify a change in sentiment
so it will be a perfect confirmation to long the market.
target levels will be 59.75 / 61.0
stop strictly below the channels last L.L
*remember, this is not a call to action trade.
I give you my plan on execution.
Let the conditions to be met before trading!
ORBEX: Gold & Oil Sensitive to Trade Deal Text!Gold’s recent muted performance has been owed to missing trade deal details!
With the text likely to surface some time today or overnight following the official sign-off, market participants will see exactly what’s been agreed and whether this makes a good case for a buy or a sell.
Oil’s decline, however, has been owed to inventories build! Will the EIA save the day? Or are we going to see trade details taking charge of this market too?
Timestamps
XAUUSD 4H 02:20
WTI 4H 05:00
Trade safe
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice
oil, cl, day trading for Jan 14thOil yesterday made a clear break of the red support and ran hard as mentioned could happen. It is now in a new lower distribution and is saying further down as long as we do not go back above red zone top. This said does not mean a balance zone in this area does not form so will be watching for shorts around red zone top and then looking to see if oil is going to balance or break lower.
A break back into the prior balance will probably have us chopping back in the range the market held for a few days.
Trade Idea for a Short Scenario on Crude Oil by ThinkingAntsOkUse this as a guide to develop your setup:
Main items we can see on the 4hs chart:
a)The Price was rejected from a major resistance zone
b)Currently, we can see the price on the lower trendline of the ascending channel
c)If you are thinking about trading short scenarios, we will wait for a corrective structure in the current area.
d)The corrective structure must be an ABC or an ABCDE Pattern (Triangle/Zig-Zag/Flat/Irregular)
e)If that happens we will set short orders as shown on the chart
Remember we are not discarding a long scenario here (a bounce on the trendline) we are just explaining what would be an optimal scenario for short trades.
oil, cl, day trading for Jan 13Oil is still in this tight range and looking for a break out, play safe until this break occurs.
Today will be looking at a 2 step red zone the inside red zone is only for inside scalp trades as I wait for the bigger red zone to break, and after the big one breaks will be when I form a directional leaning.
cl, oil, day trading for Jan 9thToday oil is in a small range balancing after a large down move. Interesting spot. also all the support and resistance seems to be lining up with the round number option strikes.So will be trading inside the red zone until a solid break out and will go directional to the side of the Red zone break.
Looking for a bounce in Crude OilMonster sell off in crude #oil, but we are coming into support at 59.50-60.00: horizontal, rising channel support & backtest of falling trend from Oct '18. RSI on 1 hr oversold & RSI on Daily hit rising trend. Not a bad area to look for a bounce w/ tight stop ~59. $WTI $USO $CL
CL, OIL,day trading for Jan 6thOil has had a very big up move and looks like it could be attempting to find a big balance range, this is why such a big Red zone today. This give lots of inside red zone trades and without any news could be the area we trade in for some time. Now a break of this Red zone could be providing lots on information towards oils next moves so will be watching with great interest.
oil, cl, day trading for Jan 3rdThere we got our big push that had to happen at some point now we have basically two red zones with good possible movement inside the bigger red zone for decent trades.
1) 64.10 - 32.73
2)63.67 - 63.21
there are some mathematical upper targets and then some prior down side targets, will watch so see if we are going back to yesterday prior range or pushing new short term highs, action reaction will be primary.
cl, oil, day trading for Jan 2st 2020The action in oil is small range inside and balanced with little directional bias. With a bigger down side directional action inside a bigger consolidation.
This means I remain in a back and forth mode until the first blue line targets are violated. And a small directional bias when the red zone is violated, but remain looking for a long bottom of Red and short top of Red until more direction is established.