WTI Bullish USOIL in correction wave after huge drop in oil prices
oil success to grow up from accumulation area @ 53.00
it running in correction up trend line now forming higher highs and higher lows
MACD show buy signal
Oil(wti)
Oil Short on 4 HourSL: 53.97
Entry: 53.78 (Now)
TP: 52.80
RR: 1:5
Stochastic Signalling Sell
Below 9 EMA
Large Bearish Outside Red Candle
Target Weekly Level
Oil Short on 4 HourSL: 53.97
Entry: 53.78 (Now)
TP: 52.80
Stochastic Signalling Sell
Below 9 EMA
Large Bearish Outside Red Candle
Target Weekly Level
cl, oil, trading for Oct 18thNow we had a very interesting move in the last 24 hours and give us more to play with. Today the red zone is now very small and will give a more clear trade opportunity so will watch close. That said being Friday the move after this pop can be consolidating.
I can see a pull back all the way to 53.75 before the up move takes off again and below that area will not lean long but think more like expanded range. And any move above 55 is to be looked upon as nice and bullish, but will wait for retests to get long.
USD/CHF Signal Closed at Break-evenUSD/CHF Signal Closed at Break-even
This trade has finally closed at entry, after grossing +85 pips, where we closed and took 50% profit at +60 pips. There was no drawdown with this trade.
Well done to all that took this trade with us!
cl, oil, trading for Oct 16thone more day of range bound oil trading it looks like so not a lot of new things to say. The major range is 53.80 down to 52.35 so action inside that range is going to be back and forth two sided trading,
Oil inventory report is not till tomorrow this week!
WTI Crude Oil: Buy opportunity within a Channel Up.Oil has been trading within a 4H Channel Up (RSI = 46.297, ADX = 36.695) since the October 3rd 51.00 bottom and is currently on its Higher Low zone. This makes it an optimal buy opportunity for the short term. The Highs within the Channel appear to be filling the Lower Lows of the downtrend sequence that led to the 51.00 bottom. Based on this the next Target (Higher High) should be near 55.50 where it will also make contact with the 4H MA200 (orange line).
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XAUUSD (GOLD) SHORTAnalysis team placed short on XAUUSD @1487.50 with 2 targets on 15th October, 2019:
TP1 @1473.24
TP2 @1450
cl, oil, trading for Oct 15thtrading near settlement price of the day prior and looking decently balanced so will be looking for either a test of the red zone or a break out or the same zone. how i trade will depend on the response around the red zone top and bottom.
Both higher and lower are possible so will have to be observant to pick off good trades today.
cl, oil, trading for Oct 14thAfter a strong up move we have returned back into the 6 day consolidation zone, this is either a market finding support to move back to Fridays range or a market wanting to be complacent and move back to it's comfort zone of the prior weeks common range. I will be watching close to see if we get a upward reaction or further complacency.
cl, oil trading for Oct 11thcurrent look could be a flag and this is likely to resolve upwards. the current move is long and balanced so this both leads to a action resolution. As always will be watching my red zone for direction and the blue solid targets to manage gains.
WTI Respected Daily Support. Now Going Up!
WTI has clearly respected a key structure support level on a daily.
we see a sequence of rejection/dodji/engulfing candles and rsi divergence as well.
I have a bullish bias on WTI and currently hold a long position.
My stop is 50 level but I have entered a few days earlier.
Key levels for targets:
56.0
58.0
60.0
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!
cl, oil, trading for Oct 9thtoday is inventory report day so I will be very selective until post report.
Oil is in a big balancing zone between 53.30 and 52 and has no clear directional bias until we move outside this range. however inside this range can provide some very good trading spots so i will be focusing on the top and bottom of this range, and look at the middle of the range as a hard to trade chop zone.
oil, cl, trading for Oct 7th one more day where the upper boundary maybe tested before I can get the post published. If we get the break above will watch for some type of retrace to get long from and shoot for one or more of the upper targets.
WTI Crude Oil - Long Above Key Support LevelWTI Crude oil has been dropping but we do believe there is upside potential as long as the market is above the key support level at $50.55. This is due to the possibility that tensions in the Middle East worsen and there is a recovery in the global economy as payrolls today came in at 136K vs 145K expected whilst the August number was revised upwards by 38K.
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.
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oil, cl, trades for Oct 3rdWe are on the top of a 2 point cliff and if oil drops below 52 then the next 2 points should be a easy drop. and a move above 53 that holds could be a nice up move recovery.
I will be trading the 1 point range back and forth until it picks a side
Approaching demand zoneWill it bounces like a tennis ball or drop like an egg. Let see the action in the next few weeks . Cheers !
oil, cl, trading for Oct 2 ndtoday is the inventory report so will be most likely sidelined until post report. Will be watching to see if Cushing's bottle neck is cleared up. The immediate boundaries are marked on the chart and they need to be broke and confirmed for go forward direction.
cl, oil, trading for Oct 1stThe big range from yesterday is still in play and will remain so until violated.
Today we have a smaller balance zone that could bring some decent intraday move to the bigger boundaries. At this point will be leaning more short.
oil, cl, trades for todayToday will look for long off a distribution support and if that does not hold then will be looking for 53 as lower support or target for short.
So a long from here to as low as 54.5 will be my trade idea on oil today.
