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Oilprice

#OIL SHORT TERM SELL OPPORTUNITYAlright first off price is in bullish Daily trend but it reached 161% of Fibonacci extension ratio and as a result of that we saw a bearish engulfing candle which tells us participants who were long in oil are probably busy with profit taking actions and as a result it is possible that we see a bearish corrective move. If you are with me so far now lets see how we can trade oil in short time. In 4H time frame we saw an impulsive bearish move which shifted the 4H time frame structure to bearish for the first time in long time, after that bearish impulsive move we have a bullish corrective move which you can see in 1H time frame. Now price has reached an important res area with RSI indicator divergence and also we can see 1H bearish engulfing candle which shows us price has an intention for down side move also we kind of see that in 1H time frame price also couldn't create HH and we can see a Double top formation which is another confluence for bearish move. Now in case of trading you can probably wait for the price to come below double top neckline which is around 82.050 and then wait for the retest or you can trade it with your strategy at any given time. But it is important to remember this is a counter trend trading and the overall trend is bullish. For targeting first target obviously would be around 80.500 and after that its kind of risky to hold the position because as I said its against the main trend. Wish you all the best
OShort
by mohemati
What are the Best Markets for Trend Following Traders?In one word: ALL. “Price makes news, not the other way around. A market is going to go where a market is going to go.” We all see the same charts, but at the end of the year only 5-10% will increase their capital. Year by year. I tried Turtle Trading System I and II, but it failed over 60% of time. It did not recognize the fake breakouts. So after 20 years of Trading I started to combine it with some other oldschool forgotten indicators: Correlations, 200 SMA and Momentum. POW! It worked better. And my capital curve showed thenafter sharp swings. Was the system wrong? Noway. Eachtime I got more greedy. I made more losses. The System worked well. So the problem was my EGO and Emotions. Just follow your plan. IF NEXT TIME YOU HAE DOUBTS,then ask yourself:,, Why do I recommand this market to buy ,cut my System showing it. But I don´t do it? And after A year you look back and see that you wee right. Your system was right. But your account showing the opposite? So FOLLOW YOUR PLAN. Money Mangement is the real Profit Machine. Be patient. 90% of Trading is patience. If the market pulls back and you are still on, it doesnt mean you are wrong. But if your stop gets hit, it just mean you where wrong, but at all you did everthing well. You have alculated this situation.Therefor you put your stop and protected your account. Stops, patience,Money Mangement is your part of the work. The rest your system does. Together, you will be a winning team. In long term. I combined Turtle Trading System II Those who know they are in the game. Those who don’t know they are in the game. Those who don’t know they are in the game and have become the game. If, within a half of an hour of playing whatever game, and you don’t know who the patsy is, you’re the patsy or the game. Who are the real market patsies? Those who deny diversification. All traders need to understand what they can trade through trend following. Essentially, everything: All news are too late. THE PRICE knows already waht happend and what will happen next. All information are in the price. Already. Stocks: S&P, SSE Comp., Nikkei 225, DAX, AAPL, TSLA, FB, etc. Bonds/Interest Rates: Eurodollar, 10-Year T-Note, Bund, etc. Currencies/FX/Forex: USD, EUR, JPY, GBP, AUD, CHF, CNY, etc. Metals: Gold, Silver, Copper, etc. Energies: Oil, Natural Gas, etc. Agriculturals: Wheat, Corn, Soybeans, etc. Softs: Coffee, Sugar, Cotton, etc. Meats: Lean Hogs, Feeder Cattle, etc. Futures Commodities ETFs LEAPS Options Mutual Funds Cryptocurrencies: BTC, ETH, etc. Trend Following™ can not promise you will earn the returns of traders, charts or examples (real or hypothetical) stated. All past performance is not necessarily an indication of future results.
OANDA:SPX500USDLong
by DaveBrascoFX
OPEC ReportOPEC's monthly report was released yesterday. Analysts of the cartel lowered the estimate of oil demand growth in 2021 to 5.8 million barrels per day (b/d) compared to 5.96 million b/d in the previous forecast. Thus, global demand in 2021 will average 96.6 million b/d. "The downward revision is mainly due to lower-than-expected actual data for the first three quarters of this year, despite assumptions about good demand for oil in the last quarter of the year, which will be supported by a seasonal increase in demand for fuel for petrochemicals, heating and a potential transition from natural gas to petroleum products," the report says. The forecast of demand growth in 2022 is maintained at the level of the previous report's estimate of 4.2 million b/d (100.8 million b/d). The forecast was influenced by expectations of high economic growth rates in the main consumer countries as they gradually emerge from the pandemic. The organization predicts that the demand for oil in 2022 will reach 100.8 million b/d, which will exceed.
RUS:SIBN
by nesskneeld7280
Price has reached to critical zone, highest level since 2018As oil and gasoline prices spike in the world, Canadian dollar is getting stronger again. Right now, as you can see on CAD/JPY chart , price has entered the critical zone again. This is the forth time since 2017 that price reaches to this zone. Price behavior is very important here. Will gas, oil and commodities help Canadian Dollar to get stronger , break the zone and goes back to its wonderful days on 2014-2016 ? On the other side, Justin Trudeaus government is facing with a massive deficit, highest inflation rate since 2003 and vast volume of money printing which have made Canadian Dollar weaker than ever. Will positive factor overcome negative factors?
by Farid_alfredo
OIL Intraday. Aiming 1:10 RRRisk 1% and aiming for 10% on this trade. No indicators used. Pure price action. Like to keep my chart clean. Simply trading structure, nothing else!! All trades closed on the same day. Entries are taken on 1 min chart. Stop loss is moved to cost after structure break. Don't chase the trades, wait for the next opportunity. Also, please view price action on 1 min chart if you're following my entries. It will make sense. Trading view doesn't allow to post entries on charts smaller than 15 minutes. Mostly trade 12-5pm UK time NY session. Sometimes London Session. Don't like the idea of watching charts the whole day.
TVC:USOILLong
by azk001
OIL Intraday. Aiming 1:10 RRRisk 1% and aiming for 10% on this trade. No indicators used. Pure price action. Like to keep my chart clean. Simply trading structure, nothing else!! All trades closed on the same day. Entries are taken on 1 min chart. Stop loss is moved to cost after structure break. Don't chase the trades, wait for the next opportunity. Also, please view price action on 1 min chart if you're following my entries. It will make sense. Trading view doesn't allow to post entries on charts smaller than 15 minutes. Mostly trade 12-5pm UK time NY session. Sometimes London Session. Don't like the idea of watching charts the whole day.
TVC:USOILLong
by azk001
Slippery When Wet......Just like my girlfriend after i tell her i have made £100,000 this week trading. 76 is such a key phycological level for oil, as you can see it has been used so many times as support and resistance before and take in to note this is the monthly timeframe this makes it about as strong as it can get! I can personally see price dropping from this 76 level, if price does drop then my next level of possible support would be 63 as shown on the chart, this also has been used as strong support and resistance in the past. The reason i think price will drop is because i can see more lockdowns coming, this will lead to nobody travelling in cars or going on holiday so there will be no need for aeroplane travel, this will lead to less demand for fuel so price will drop. You always have to look on the other side and see what would happen if price breaks 76, If this happens then my next possible resistance level is marked on the chart at 86, for the same reasons as all the other levels it has been used as strong support and resistance before. Let me know your thoughts, do you think we will be getting more lockdowns? Cheers.
TVC:USOILShort
by Free_Signals_UK
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