OilGood chance at firing long here for a potential long term position trade. Wonder how many stops can get hunted on a false break to the down side.
Oilfutures
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WTI has completed a bearish pennant - Retesting higher levelsFor the fourth week in a row, last week oil fell.
Technically, WTI has completed a bearish pennant. That pattern is normally followed by an upward correction which, in this case, means it could retest the $30 level.
I recommend you to go bull to 29-30$ levels during this week.
cl, oil, day trading for Mar 23rd 2020Today we are again digesting some extraordinary moves and need to look at what is really happening. I am watching 20.50 as a very important lower level . I am not looking at targets today but more observation of what the activity of the day will be, the range is massive and there is plenty of room inside the range to have large trades so as long as inside this range no targets.
Everything has been very sold and a technical bounce could happen at any time
oil, cl, day trading for mqr 20th 2020We have dropped below normal red zone low and now the level to watch is the current low, this will be a important level to help find today's direction. I do not see ( unless news) a much higher move above the current highs. however can see a test of the lower balance point very easily.
Oil ranges have been very large and provide some good trades but also lots of risk if managed poorly.
oil, cl, day trading for Mar 19th 2020yesterday saw oil drop hard into new lower levels and now we are in a bottom of range balancing zone. If we stay in this range I think we break down for mid teens to what could be the bottom, however i am beginning to see a case for oil below $10.00 also.
A move above red zone could take us back to prior RTH session low and then see if bulls have any mojo left. This range is big so should be able to find action today.
oil, cl, day trading for Mar 18th 2020A down move over the early session moves below prior support levels and sets up a move into teh higher teens. Will be watching for any type of bounce and if this bounce fails will be hanging my hat on the short side. also will get short on a impulsive move down that gives me a pause to jump on.
Lower target 17
Please look at your chart and the usoil TV chart I have cl numbers coming in .40 higher than TV
oil, cl, day trading for Mar 17th 2020We are still trying to test lower and that is what I would have as primary dirction for the day, but this will come with some decent bounces on the way. Watch the red zone and be ready to react to what the market tells us. In this market targets can come fast.
OILU LONG SET UP OILU ULTRAPRO 3X CRUDE OIL ETF
ENTRY 1 1.20
ENTRY 2 1.00
SL 0.13
TP.1 $8.00
TP.2 18.20
TP.3 28.20
TP.4 36.00
TP.5 48.00
act.webull.com
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cl, oil, day trading for Mar 13th 2020Today we are in a very big consolidation, and inside that have to be thinking back and forth so as oil moves up to red zone and or the first blue target I will be looking to short oil, this can be a day trade or a longer time hold, however much over first upper blue target the bear maybe dead and oil could take off so play safe if a swing trade. and always when a day trade.
Also in the event a move down to red bottom will attempt a scalp back to red high.
oil, cl, day trading for Mar 12th 2020Well interesting day in front of us and oil will do it's part.
Looking lower for oil and it might come after a bounce or on a down rip, will be ready for either idea.
As always the Red zone provides many many clues to how the day action will be.
cl, oil, day trading for Mar 11th 2020Oil did what i mentioned yesterday and chopped inside a small range, now that range has expanded and looks like will still be choppy. Choppy until some real news is my thinking. when it break a few fast points will come in on either side of the balancing zone.
So today will look for longs near red bottom and shorts near red top.
oil, cl, day trading for Mar 10th 2020Oil could be moving into a multi day smaller range consolidation so watch for a day of tight smaller moves. On the other hand if it breaks the consolidation a good sized larger move could easily happen so do not get caught thinking you know what will happen in oil. Play the action and the reactions. right now we are finding support that is decent around 32 and is an area I will be stalking for longs bounces to top of range.
oil, cl, day trading for Mar 6th 2020Now that is a balance breaking down side move and is strong down side so gives me a bias to shorts, with a 42 target.
the best a up move I think could have is 46 and then back short.
cl, oil, day trading for Mar 5th 2020today we remain in the consolidation and will be looking for consolidation type trades. but will be ready for the bigger unbalancing move.
So long in the area of the red bottom and short from the red top area.
oil, cl, day trading for Mar 4th 2020Today not even going to talk direction or targets, we are inside the red zone consolidation until we are not, and when we are not that is very important information. So i will be looking for trades using the sloshing of the market until one end of the tub over flows.
wti, oil, cl, day trading for Mar 3rd 2020Well oil has bounced up some and needs to show us it wants to go higher before getting long today. The range for the day is plenty large enough for good R/R trading from the red highs and lows, but watch for impulsive action near these levels. My gut ( for what it is worth) says oil will move higher , but always be ready for the down side test as it looks for those long term buyers.
cl, oil, day trading for Mar 2nd 2020today looking at a bottom side consolidation that needs to break for directional info, however the range is wide so some very good inside trades can be had today, so follow the impulses.
cl, oil, day trading for Feb 28th 2020Today will tell a interesting oil tale on where oil wants to go, so will be watch the red zone for my first clues. Has been a wild week and we could stall for a chop today but be ready to respond to a big reaction.
We are still under the short line from yesterday so still leaning short.
oil, cl, day trading for Feb 26th 2020oil is finding new lows it has not seen in a very long time and for now will not post any lower targets below the ones on the chart, however look out below if the blue lines do not hold.
Will be seeing if the up side can gain any strength today on inventory numbers at 10:30
cl, oil, day trading for Feb 25th 2020today will be watching the red zone and the first blue target zones, I feel no clear direction until the first blue zone is broken. I will be looking at inside trading as long as this wide area is in tact.
cl, oil, day trading for Feb 24th 2020we have had a good sized move to the bottom of the big multi day range and will test that range to see if a move to teh lower targets is going to happen. I am thinking it will.
Watch red zone and impulsive action and trade accordingly.
