Sell CL1 Crude OiL Now With high probability !Sell CL1 Crude OiL Now With high probability
The price in Crude Oil Will visite Other KEy Levels .
Tp1 is The first Take profit than You can Do Breakeven.
Oiltrading
GTE The breakdown of the diagonal is likely a HTF Primary W1 into W2 because it's on the monthly. Typically a leading diagonal is a bearish precursor to a reversal.
Also leading diagonals most likely form a wave 1 into w2 set ups.
The 786% might be too optimistic, as the wave 1 was 5 up which means sub wave A which equals the 5 up diagonal which equals the HTF w1 is a HTF Zig Zag & Zig Zags can bounce off the 50%-618%.
But the underlying nature of W2 is to destroy any hope of the wave 3.
So rather the 786% is usually a trademark of the wave 2.
Basically a lot of conflicting forces at play here as to where the bottom forms.
But catching this dip for a LT play seems very smart as W3 is targeting $16-$18 & Wave 5 $200 plus.
WTI: Safety net 🧗Although the Oil might need a little persuasion, we're expecting the course to drop below the support line at $70.08 to continue with the downwards slope of the blue wave within the green target zone. Once completed, the blue wave should pump the course back up, before it ultimately hits the corrective low of the green wave .
Crude Oil at Various Support Levels As you can see Crude is currently positioned on a 4/5 year support level which was first tested in May 2018.
As well as that it has reached the breakout point of the descending triangle and has perfectly placed itself on the 0.786 fib retracement level.
All of these indicate a bullish reversal in my opinion, however I wouldn't be surprised to see a bounce before those levels are broken to get rid of weak hands.
Let me know what you think!
Sell OilOil looks bearish on the weekly timeframe and next month looks bearish with possible new lows to bottom area 60.
Oil on the weekly timeframe is in a descending downtrend channel and currently rebounding back from the upper channel of the downtrend at the resistance and supply zone at area 82 and already this week broke previous two weeks lows.
Looking for lower prices here / 3:1 RR / Following Momentum1. Weekly bias playing out 2. 4hr just closed with large top wick exhuastion at pre-planned level 78.7 3. Bear Momentum, Wicks get filled in momentum 4. High Volume time
Crude Oil Weekly Forecast 30 Jan - 3 Feb 2023 Crude Oil Weekly Forecast 30 Jan - 3 Feb 2023
Based on the data from OVX we can see that currently the IV for this week is at 40.5%, equal to last week.
This can be translated in +/- 5.62% weekly movement from the open of the candle, which makes the next top/bot channel
TOP: 84.54
BOT: 75.54
If we were to make a more accurate statement, based on the current percentile of the OVX( from 0 to 10) , we can apply a condition in the filter
to look for scenarios when the volatility were lower than 50 percentile( bottom half). If we were to take this data we can see, that our numbers would be:
74% according to the last 20 years of data
50% according to the data since 2022( I would recommend the 72% instead)
So we can use this data instead for proper calculation of our trading plan
From the technical rating analysis point of view we can deduct the next information:
Currently there is a :
31.5% to touch the previous weekly high
66% to touch the previous weekly low(already hit)
At the same time if we are going to take a look at the moving average rating for different timeframes we can see :
4H Timeframe: -26% Bearish Trend
D Timeframe: 0% Bearish Trend
W Timeframe: -53% Bearish Trend
Lastly on average, based on the current percentile, we can expect that our asset is going to move:
4.65% from the open to the close candle for the bullish scenario
5.6% from the open to the close candle for the bearish scenario
Long setup wti crudeWait for the price to come in the yellow zone shown in picture then buy long.
Entry = 80.75 - 81.10
Tp = 85 - 85.40
Sl = 79 - 79.30
Possible discount for sells. Daily Zone [ 81-81.40 ] RR 3:1As we move towards the end of the week the market is preparing for the big move. I think we can ultimately reject this daily zone and critical pivot level on the daily Timeframe. 81.40
Crude oil a leading inflation indicatorTwo observation made the last two years between crude oil and CPI:
1) There were 5 waves up and
2) 3 significant peaks
However, between the last 2 peaks of crude, it was a lower low follow-by its downtrend, and CPI followed this downtrend subsequently.
Among many commodities, crude oil moves the most in tandem with CPI, but crude seems to lead in this study.
Refer to the daily chart on your own, try drawing a downtrend line, you will see crude oil prices has broken above its downtrend line recently. If crude oil is going to transit to an uptrend from here, we will have to track CPI very closely. The inflation fear is still there.
Did a video on this observation last week, refer to the link below.
Crude Oil Futures
Minimum fluctuation
0.01 = $10
0.10 = $100
1.00 = $1,000
10.00 = $10,000
Disclaimer:
• What presented here is not a recommendation, please consult your licensed broker.
• Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
Crude Oil. Winter isWhite Swan Harmonic Pattern Observed.
Support & Resistance (8H to 1W)
Falling wedge (Contracting) observed on 8H.
Bearish Ranging Channel (This can give us the perfect entry) on 8H
MACD divergence on Weekly Chart
RSI 47 on Weekly Chart
EMA 20 crossing over MA200
Last cross was observed on 6 Jan 2022
Looking forward...
The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment.
Do leave your valuable feedback & comments for any improvisations.
XTIUSD...SELL (5% Drawdown)The price of oil per barrel will definitely soar high but I see a chance of sell opportunity before its long momentum, currently looking at a clear sell chance for at least $4 price reduction per barrel of oil. XTIUSD is currently trading in my supply zone....so i expect more sells to jump into this market.
NB: All eyes on the breakout zone (blue box region) to accelerate or decelerate rice movements.
Red box ( rejection zone) might or will serve as a chance for another entry for sell or a push up to soar price movements high.
Very interesting oil chart!A head and shoulders pattern has formed and broke out. Waiting for a confirmation on this breakout but things on a technical side look rather bullish for crude now.
Tread lightly, trade safe, and set your alerts!
We hit the first target on OIL Congrats , I already predict that oil will go beyond 81.5 $
Now we are at 82 going to hit 84 then 88.5 soon
GOOD LUCK
Oilusd Near the end of Impulse WaveOIL Trade Near the end of Impulse Wave , wave 5 may show resistant @ level 83.38 to start consolidation Pattern the target level 80.50 , Break under 80.00 confirm the down trend that target at least 77.30 , Close above 85 cancel this idea
USOUSD (OIL) 4H: 15/01/2023
You can see the important levels and possible scenarios on the chart.
If you have a question, feel free to ask.
💡Wait for the update!
🗓️15/01/2023
🔎 DYOR
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WTI DAILYThis may come as a shock to all of you but we are at the lower end of the market historically, and we have begun to see the rapid decline of market trends.
Long positions are being made which is why we are seeing such a short market to buy up all the great pricing for a swing to the 100s in the mid-year rise.
this cycle will place us in new market highs pretty soon.
Waiting For Dropping!Expect crude oil to fall. We wait until it hits the area 82
Its great resistance for dropping oil.
Nice R:R4 50% long setup for oilHey everyone,
after a patient play out of short seen below, finally a long setup popped up on me.
I see a finished EW correction topped out by falling wedge formation with bullish divergence on indicators.
Markets turning bullish and with Bitcoin and cryptocurrencies , I´m adding in bag some oil longs.
This is very nice and conservative Risk:Reward 4 ratio setup
Entry: 78-80 USD
SL: 68 USD
TP1: 100 USD
TP2: 120 UD
Chachain
KEYWORDS
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Potential SHORT/LONG on OIL IF...Like my previous analysis, i am looking to see if OIL rejects or breaks the trend-line which is at the $80 level. Coincidentally, this is also where the 50EMA is at. I would want to see what it does at he 80-81.4 price. 80 price is at the trend-line and 81.4 is the previous resistance. If it breaks that level, we can see a nice push to $90s. If we see rejections, we can see retest support at he $70 level
Crude oil💥1D -TIMEFRAME ANALYSISCrude oil💥1D -TIMEFRAME ANALYSIS
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This is my new idea for 💥Oil
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