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Oil(wti)

WTI - OIL Long Idea. I may set a limit order for this trade. Just scrolling through my charts, I see a potential here. Ok so, price has hit a support area on the daily after quite the sell off. A "High Wave" Candle has developed, traders will take notice of that. There has already been a Bullish push up, I would want to see relax a bit. Dropping down to the 4 Hour chart we have a chance to get into a long on a small retracement. The trade (potential) offers a nice Risk/Reward. I do also see MACD divergence on the 4 hour chart. Oil is not for the faint of heart, risk management is important...anything can move aggressively, but oil being so geo-politically sensitive, I use extra caution. That's my approach, 1% Risk 2:1RR - Happy Trading!
TVC:USOILLong
by MattArmstrong
WTI Crude Oil: 1W Support reached. Long term Buy opportunity.Oil has almost made contact today with the 50.55 1W Support after a very disappointing 8 red candle streak which has turned 1D bearish (RSI = 36.455, MACD = -0.740, Highs/Lows = -3.6829). We see this decline as the most optimal buy entry both on the medium and long term as despite 50.55 being a 4 month Support and strong buyer accumulation zone, the RSI is coming off Higher Lows and making Higher Highs. The symmetry on the duration of each Low to Low and Low to High, allows us to project the rise on a 1 - 1.5 month horizon. The Medium term Target Zone is 60.90 - 63.30 and those on a longer term perspective can take the profit within 63.80 - 66.60. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX:USOILLong
by InvestingScope
1
oil, cl, day trading levels for Sep 27yhThe levels I am pointing out are directional signaling areas and are not always the trade trigger. after a direction is established for my trade i then need to have a triggering event. The trigger can be right at the break point but often is not and the market will have to provide me some real time info to actually create the trigger so the action can be fired upon. I look at trades as 2 parts one is a directional signal and second a trigger or action point. Action point will be looking at things like possible reward and possible risk and is the action cooperating with the signalling direction. In the live trading room my software create triggers it is up to the trader to see if the trigger matches there personal risk reward. I point this out because I have been getting lots of questions as of late on what my red zone means. I will not be adding much about the market today due to the fact the red zone was broken lower as of this typing and will possibly provide a second post today after the break move has digested.
FX:USOIL
by alleytrader
US OilHello, How you doing USOil has been in range for last few days 1. EMA200: its right on the price and soon or late its time for the move away from it 2. Channel: Up 3. Green Support box 4. Oscillator going to oversold area There is chance for breakout to the downside, since momentum is getting weak We are looking for big green candle and breakout to higher price for making decision I'll be happy to read your opinion and ideas, Remember, we are speculators, not investors ;) Have a profitable day
TVC:USOIL
by Aidin_Jabarpoor