Usoilidea
Crude Oil possible correction to setupMy last call on Crude smashed the target well above 1,000 pips, at the moment it is almost testing its multi months channel top, however trend still is very much strong, i am looking for a linear compression to be forming at the top of the channel. Expecting a correction there so I could look for sell setups, keep eyes on this market for a possible sell swing trade.
Happy Trading.
USOIL Daily SetupOn previous week USOIL (WTI) broke dawn upward channel, because we had news that OPEC are increasing oil production.
Price technically could make a PullBeack to Sell zone $71. There we can catch Swing move down to key buy level $58.18
The best place for short is near $71. It is a place where price broke down channel. S/L set higher $72.
Under this post in comments you will see a link on my telegram channel where i post more free signals
WTI Crude OilMy bias is long on usoil. The 4H chart shows my idea on getting into the trade. My view on the trend is bullish based on the daily and weekly charts. Other important infos that I looked on are the 2 hammers with long tails indicating buying pressure laying on the previous resistance level way back in 2015. My opinion is that the resistance level has been broken and is now become a support level.
USOil - Watchout for the break - 200 pips+ OpportunityUSOil is currently in a consolidation zone. Keep and eye on it for when it breaks out.
I am still neutral to whether it can go up or down. However, I do know that once it breaks out it will have a big move.
Always trade after your own analysis as well as money manage properly.
Happy trading!
long CL at lower parallelCl is at its extreme within this upsloping median set and has made a higher low after reaching the pendulum median line. This offers a very nice long opportunity with a relatively cheap stop.
Target 1: Coil (red box)
Target 2: Expansion topside as projected by expansion downside from the coil.
Target 3: Upper MLH
USOIL Choose short entry 54, SL -55.00 It has been quite long that we did not do any OIL trade
since the last time break out(52.5).
But on 23th Feb I found a structure that has reach pressure zone.
And we tried to sell @54.7,and closed @53.5,got 120pips profit.
54.00 is the previous support and now become resistance.
Choose short entry here, SL above 55.00
Aim 51.5 !
I hold a point:Good charts does not more words to explain! Good luck!
The process of losing all margin in generalThe process of losing all margin in general:
1 the first few deals are profitable, usually at 1pips to 10pips
2 traders feel good, I think the correct rate is 100%
3 start a new transaction, in the case of 100% confidence, no longer set SL, and then began to float loss.
Short it the safe way!I think we now have a better chance to short oil!
It reversed on major resistance, crossed the trend line and the 50 EMA. You can sell the correction or the bearish flag. Or you can sell the failure of resistance retest. This is in my view the safest way to short Oil on this level.
OIL SELL TRADEON THE DAILY WE HAVE A STRUCTURE WHERE PRICE HAS BOUNCED BACK FROM THE 43.00 FIB LEVEL.
ALSO THERE IS A SQUEEZE MOMENTUM PATTERN WHERE PRICE WILL MOST LIKELY FALL TO PROFIT TARGET 40, 8 AND PROFIT TARGET 33.63.
ENTER TRADE JUST BELOW THE 43 FIB LEVEL WITH A STOP JUST ABOVE 44 LEVEL.
PRICE SHOULD AFTER THAT TEST THE RESISTANCE TREND LINE AND FALL TO
PROFIT TARGET 1 40.80
PROFIT TARGET 2 38
PROFIT TARGET 3 33.63
AFTER THE BREAK OF EACH PROFIT TARGET DOUBLE UP ON POSITION.