Confirmation of rising wedge's breakout (CHEVRON)Signals
rising wedge with breakout
flag with breakout
Sell 102.00-101.00
Stop-loss 103.60 (flag's high)
Target 93.50 (sizing+strong support)
R\R ratio 1:3
Oilshort!
Short oil at its seems complete its 100% move on Daily chartOil Seems its done its top around 49 Level its Seems Strong Resistance level.
It can Retrace till 0.786 level that is around 47.1 and if hold below that then 0.618 around 45.5 will also on way.
Advice Sell oil cmp 48.2 and set pending at 48.9 both sl 49.5 where tp1 47.1 tp2 45.5
OIL WXY correction over or will it come down for the Z wave?USOIL Daily chart is at a critical point as it reaches the 61.8% Fib retracement of the correction so far. The important thing to note is if the WXY correction is complete and if bullish momentum dies at the trendline, we might get the Z wave. On the other hand if price breaks out of the corrective structure with conviction, then it will be a bullish impulse. Of course there will be plenty of opportunities and pullbacks to enter long. For now, I expect a swift reversal to complete the Z wave.
Whichever way the market wants to move, let it confirm first. Trade with caution.
USOil Potential Short OpportunityTest monthly resistance level.
50% retracement.
4hr high test candle.
If we get a bearish close on the next 4hr candle this will be taken short. Targets are at 50% and 61.8% of previous swing.
Short term Elliott downside cycle, imminent wave 5 ...I think that wti short term down trend can resume soon with a reversal in the area of the rectangle in the chart (end of wave 4). Thus maybe wave 5 can complete the down cycle at about 36 (or above too, but at least 39 to a double min) before the main up trend can resume its way to the upside.
Sell oil Oil trading at 48 didnot hold above 49 now we can see it 46-46.5 level.
sell oil cmp 48 next set as pending order 48.8 both trade sl 49.5 TP 46.5
if trade 50 pips green move sl at cost
Beautiful ShortNice short lined up ready to break. We could have a nice profit taking pullback down to some previous Resistance could go lower on news.
Great EntryHealthy pullback waiting to happen will pull back a few cents to the downside, resistance below 15 minute looks setup well, stop loss 20 to 30 cents depending on your risk
oil possible cypherThere is a good entry area for short .Potential shark is looking good.Safe trade.
OIL Sell IdeaAfter a Triple Cycle up and three False Breaks we can see a Bearish Divergence as well.
Sell the break of the Yellow TL aiming 50 % of the Triple Cycle
TP 38.83
SL 2 pips + spread above top 42.60
