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USDWTI

US Oil (USDWTI) Market Outlook | Daily Forex Market BreakdownOil is playing out flawlessly. As anticipated in my previous post oil has continued to push to the upside. Now I would like to see some strong rejections. As you can see in the last post I was waiting for it to push up higher before taking a short entry. It definitely looks very good, but I am going to be extra patient. I always say with trading gold and oil you want to be extra cautious, they can move very violently and they need to be respected. That is why I am exercising a little extra patience and waiting for some clear signs that the bears are in control.
FX_IDC:USDWTIShort
by Layne_LV
USDWTI Technical Projection for the Week (24/02)USDWTI is inside trailing an upward channel approaching a previous high at 57.60. Price can go for a breakout resistance level at 57.60 or pullback to 55.34 before it continue the uptrend. I prefer to see a pullback before riding the trend again. Bullish Scenario, with target at 60 Bearish Scenario, with target at 55.5 Disclaimer: This technical analysis is not to be treated as financial advice but solely for educational purposes only.
FX_IDC:USDWTIShort
by traderdxb1
USD/WTI Long position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 4-8 Hrs Actions on - A – Activating Event Market consolidating above the 200 mva and has reached a condition of being oversold.If we see a break and hold above the 52.80, a long position may be an option :) B – Beliefs Market move towards the first Target 1 level @ 54.00 FX_IDC:USDWTI Trade Management Entered @ Sign up for mentoring Stop Loss @ Sign up for mentoring Target 1 @ 54.00 Target 2 @ 0. Risk/Reward @ 3.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Join our Tier 1 Mentoring Program TODAY!! twitter.com Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
FX_IDC:USDWTILong
by SMPTrader
Possible USDWTI Long position!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1-2 Days Actions on - A – Activating Event Commodity consolidating above the 200 mva and has reached a condition of being oversold.If we see a break above the 53.10, a long position may be an option :) B – Beliefs Market move towards the first Target 1 level @ 55.40 FX_IDC:USDWTI Trade Management Entered @ Sign up for details Stop Loss @ Sign up for details Target 1 @ 55.40 Target 2 @ Risk/Reward @ 3.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
FX_IDC:USDWTILong
by SMPTrader
Short term trade S&P 500, WTI, or EURSUDThe job-market report issued by the Bureau of Labor Statistics was very strong. 312K new jobs created instead of a forecasted 177K, Blacks entering the job market as unemployed. This is good because they are no longer outside the job market. Next step is that they will be employed. There were other positive points as well, but you get the point. S&P 500 futures On the five minute chart the stock market did not like the report. Probably a misunderstanding. Everyone reading the report came to the conclusion that the economy was stronger than expected, but it took 10-15 minutes. Then the buying started. This was probably a combination of machines as well as people. The buying pressure grew gradually during the day. EURUSD The currency market reacted quicker. The dollar got a boost. USDWTI The oil market is driven by demand and the strong report would signal that demand would be higher than expected. However, the euphoria did not last so long because the next report was the EIA report on natural gas. The change in stocks was smaller than expected. Hence, maybe less consumption than expected. The response was very fast to this report even though it is about natural gas. EIA publishes the crude oil report 30 min later. Traders assumed that the situation for crude oil would be the same. The traders respond quickly to the stockpile report so less room to profit unless you have superior information. What to trade? * The S&P 500 would be preferred. Jobs are good for the economy. The stockmarket is in a slump. Moon cycle is up. I could expect the market to continue up early next week. * EURUSD would be good too, but short term, maybe an hour. Monitor and get out as soon as you see EUR strength again. * Oil is another option. Jobs is also good for oil, or at least that is what the market believed. I would have gotten out before the EIA report as I cannot forecast it. If you are a speed reader you might have picked up in the job-report that it is professional and administative jobs that have increased a lot, not manufacturing. So oil might not be a good choice. However, that would have been hard to pick up for an individual trader in real time.
OANDA:SPX500USD
by Mats000
Technical Analysis 101!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Technical Analysis 101!! Interpreting the candlestick This type of chart is an extension of the bar chart as discussed and is actively utilised by the investors in China for more than 500 years of time period. It helps in providing the information regarding open, close, low and high in the dimensional format. It can be seen that the vertical axis of the chart helps in providing information on the prices of the FOREX whereas the horizontal axis represents the time period. The white candles are the representation of the advances of the currency and the black candles, on the other hand, represents the decline in the value of the FOREX. Moreover, the body denotes the thick portion of the candle, and the vertical line represents the wick. This chart helps the investor to forecast the future price movement of the FOREX. b) Charting systems In the mind of a few people, charts are the exemplary image of the trader’s speciality. The experienced eye can make ups and down. Charting is a questionable piece of the fund. Future research is probably going to reveal things about outlining that would amaze people today. All things considered, even individuals who eagerly restrict the training are ought to be acquainted with the essential techniques of charting. Follow your Trading plan, Remain disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
FX_IDC:USDWTIEducation
by SMPTrader
Crude oil to see recovery from current levels!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - 2 daily Timeframe - 1 - 2 Months Actions on - A – Activating Event Commodity finds Support @ current levels . Commodity to move towards the @60 level, B – Beliefs Crude Oil needs to consolidate before I look at going long. I will stay on the sidelines until then. Will keep u posted :) FX_IDC:USDWTI Happy trading. Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
FX_IDC:USDWTILong
by SMPTrader