Get started

Crude Oil Brent

My current view on Crude Oil + explanation.Today, I will explain my perspective on one of the most relevant commodities in the world. After the price broke the current support/resistance level, we observed a 26% correction, and currently, the price has broken the structure. We can observe the same behavior in the previous bull runs from 2007 to 2009 and 2010 to 2011. The sequence is a Big structure followed by a breakout followed by a correction (green circle). Any entry above that with a stop loss below the structure provided a great setup to gain exposure to the massive movements we can see on the commodity. So the plan for me is still the same. The structure happened, the correction is about to be completed (green circle), and after this week, I will be setting pending orders on a new local high with a stop loss below the green circle and a target on 109.00 IF everything goes as expected, we can think of a 150 -200 days movement, and a risk to reward ratio of 3 (that means that for every dollar I'm risking, I'm aiming to make 3) The risk I will be using for this setup is 3% of my total trading account. This type of risk management is because my system has a low execution rate per month, around 1 setup a month. On other strategies with a much higher execution rate, I may use 1%. What happens if the price keeps falling and never reaches your entry-level? You cancel your setup, that simple. And remember if you have a stop loss, this is part of the game; catching great trades requires to be stopped out, so don't think that a take profit is a clean profit, and a stop loss is an absolute loss. You should evaluate your system after several executions (in my case, at this execution rate, after 10-15 setups, I can observe a 50% win rate and an average risk to reward ratio of 2. Remember, trade like a casino. Thanks for reading!
TVC:USOIL
by ThinkingAntsOk
3
CRUDE OIL (WTI) Key Zones to Watch 🛢 WTI Crude Oil looks quite overbought at the moment. The price may retrace before it goes to the next highs. Here are key zones to watch for potential buying: Support 1: 77.1 - 79.2 zone Support 2: 72.9 - 74.8 zone Let the price reach one of these zones first, then look for a confirmation on lower time frames to buy. In case of a bullish continuation, the next resistance will be 89.5 - 91.0 level. From that zone, a pullback will be expected. ❤️Please, support this idea with like and comment!❤️
TVC:USOILLong
by VasilyTrader
14
TS ❕ BRENT: short to 85.15At the beginning of next week, a slight downward movement is expected immediately to support 85.15, from where the price is likely to continue its upward movement to new highs. SELL scenario: Due to a small rollback to support 85.15, one can open a short position with a small stop loss at the level of 88.65. The target, respectively, of the fall lies at the level of 85.15. ----------------------------------------------------------------------------- Remember, there is no place for luck in trading - only strategy! Thanks for the likes and comments.
TVC:UKOILShort
by UnknownUnicorn15614419
1
TS ❕ GOLD: trade in rangeAs expected, now the maximum level to which gold can rise is 1827.950. In the future, if the price manages to close in the range of 1813.885 - 1827.950, then further growth can be expected. Otherwise, the direction of the metal will be towards the level of 1800. BUY scenario: This buy deal implies a trade within the range 1813.885 - 1827.950. Therefore, the long is considered strictly from 1813.885 with the target of 1827.950. In this case, the risk/reward ratio of 1/2 and 1/3 is considered. ----------------------------------------------------------------------------- Remember, there is no place for luck in trading - only strategy! Thanks for the likes and comments.
OANDA:XAUUSDLong
by UnknownUnicorn15614419
5
TS ❕ BRENT: above 85$Oil is likely to hold above 85$ in the near future. At the moment, a small downward correction suggests itself, but you should be careful, as the price is moving in a strong uptrend. SELL scenario: A deal to sell is expected after the formation of the third top. This setup will be as confident as possible with the target of 85.15. ----------------------------------------------------------------------------- Remember, there is no place for luck in trading - only strategy! Thanks for the likes and comments.
TVC:UKOILShort
by UnknownUnicorn15614419
3
TS ❕ BRENT: test 85.15Oil buyers have done a great job in their favor by closing the week above the level of 85.15. Now one should expect a test of this level, from where you should set the buy priority for yourself. SELL scenario: A rollback to 85.15 is not long in coming, and on Monday you can try to sell accurately. The best option was a candlestick formation at current levels that would indicate short. ----------------------------------------------------------------------------- Remember, there is no place for luck in trading - only strategy! Thanks for the likes and comments.
TVC:UKOILShort
by UnknownUnicorn15614419
7
Commodities - What are they and how do they work?This article is continuation to the series of educational articles on basic fundamentals in regards to particular asset classes. If you have not read our previous article on stocks, feel welcome to do so: In order to read the article click on the chart above. Commodities are basic goods used in commerce that are interchangeable with other goods of the same type. They are usually refined or used for production of other goods. Commodities can be traded privately or on public market exchange where they must meet specified minimum standards like quality, weight, type, etc. They are great speculative investments which tend to be ruled by cycles and interaction between supply and demand. Classification of commodities In order to distinguish between particular characteristics of each group, commodities can be categorized according to their type and origin. Commodities that are mined or extracted are called hard commodities (oil, gold, silver, etc.) while commodities that are grown are called soft commodities (wheat, rice, livestock, etc.). Though, commodities can be sorted even further into smaller sub-categories. For example, metals can be divided into industrial metals (copper, nickel, iron, etc.) and precious metals (silver, gold and platinum). Additionally, the agricultural sector can be divided into livestock and grains; and the energy sector can be divided into oil, coal and natural gas. Other commodity sectors can be subcategorized in the similar fashion. Raw materials Primary commodities which are unprocessed and serve as input for production of other goods are also called raw materials. Raw materials involve, for example, crude oil, copper, iron, wheat and corn. Commodities exchanges include: Asia Pacific Exchange (APEX) - Singapore Chicago Board of Trade (CBOT) - United States Chicago Mercantile Exchange (CME) - United States Dalian Commodity Exchange (DCE) - China London Metal Exchange (LME) - United Kingdom National Commodity Exchange Limited (NCEL) - United States New York Mercantile Exchange (NYMEX) - United States Shanghai Gold Exchange (SGEX) - China Correlation Some commodities tend to show correlation with other assets. Such correlation can be positive or negative. Positive correlation means that two assets behave in a similar way. For example, when gold rises then mining stocks rise as well. Contrary to that, negative correlation describes such behavior in which assets move in the opposite direction to each other. For example, when USD/EUR rises then gold in USD tends to decline. Illustration 1.01 Illustration above shows the monthly chart of USOIL. It also shows USDEUR (orange line). Negative correlation between these two assets is observable. When USDEUR falls then USOIL tends to rise. Participants, spot market and derivatives market Commodities are great anti-inflationary assets which are often sought by producers and speculators alike. Producers tend to use commodities with purpose to hedge their risk; furthermore, they often demand delivery of physical goods. Speculators, instead, try to exploit volatile price movements in commodities with the goal to profit from it. Commodities can be bought and sold through the spot market or derivatives market. Spot market simply means buying or selling cash positions while derivatives market involves investing in futures, options, ETFs, etc. Seasonality Some commodities are prone to seasonal cycles which means that they tend to show the same or very similar behavior based on a particular calendar season. For example, in some countries, production of a certain crop may vary during the wet season and drought season. Similarly, heating prices tend to increase during the harsh winter as opposed to during the hot summer. Concept of seasonality is also applicable to commercial and industrial trends. DISCLAIMER: This content serves solely educational purposes.
OANDA:XAUUSDEducation
by Tradersweekly
7
TS ❕ CADJPY: under 92.178As a result, the upward impulse for the CADJPY currency pair came up against the resistance level 92.178, which has already manifested itself in history. In the nearest future, the price will most likely be just below this level. BUY scenario: An attractive buying area is located near the support level 91.270. Where can one try to look for points to buy with the target of 92.178. The area is excellent in terms of a good risk/reward ratio. ----------------------------------------------------------------------------- Remember, there is no place for luck in trading - only strategy! Thanks for the likes and comments.
Long
by UnknownUnicorn15614419
4
TS ❕ BRENT: correctionThe oil price is inside the ascending channel and the instrument is now in an uptrend. After correction to support level 82.93 or 80.75, oil has prospects for further growth. SELL scenario: The resistance level 85.15 has confidently kept the price from rising and now a correction to the support level 82.93 is very likely, where the support line of the uptrend channel is located. After small upward pullbacks, one can look for sell entry points. The correction can also last up to the 80.75 level. ----------------------------------------------------------------------------- Remember, there is no place for luck in trading - only strategy! Thanks for the likes and comments.
TVC:UKOILShort
by UnknownUnicorn15614419
3
TS ❕ EURUSD: false breakoutSince mid-November 2021, the EURUSD currency pair has been holding in the range of 1.12725 - 1.13570 (average). At the very beginning, the price managed to touch 1.11845, after which there was a rebound to the upper border of the previously indicated range. Selling is a priority, as it is in the direction of the trend. And the level 1.13570, near which the instrument is now being traded, and it is supposed to look for entry points to sell. SELL scenario: At the moment the price is trading above the level of 1.13570. However, it makes sense to wait and see if the price closes below this level again or not. In case of such an outcome, it will again be in the range 1.12725 - 1.13570 and the price will rush to its lower boundaries. ----------------------------------------------------------------------------- Remember, there is no place for luck in trading - only strategy! Thanks for the likes and comments.
Short
by UnknownUnicorn15614419
4