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Usoillong

The Beast is here!-12 Hour analysisShort Term Long (until real confirmation) Things don't ever travel in a straight line in Oil. That's why people who enjoy volatility and risk tend to trade it. Now bigger picture moves will almost always shake traders out of great moves with retests of tops/bottoms and extreme highs followed by extreme lows. When you've been thrown around enough, you learn to just trade the extreme zones an wait for catalysts. What's been happening since the last idea? Well Oil did reverse/resume from 93.62-7 and began the trip to the downside to test a key support/supports as mentioned. First the 82-83 level, from which it reacted quite strongly to go and retest 93.7 a month later. 11 days after that, we found our selves at 77.2-3 area. Even though it was 2pm UTC on a Friday we could not resist taking the entry that rewarded 300 pips in 6 hours. 77.28 was the lowest long entry price of those mentioned in the last idea for a potential moves to the upside and it has rewarded so far. However with a capital H, bearishness may not be done just yet. 50% of long positions were closed at 80.3 with the remainder having SLs at 78.2 and TPs at 83, 84, and 85-86 area. The main reason for this caution is that last year something quite similar happened around Oct-Dec period. There was a mark up in Oct and some of Nov followed by a drop in Nov. Towards the end of the year, there was a rise and fall (whilst falling overall) in the last week of November. If anyone remembers this happening, they used the last week of November to go and retest the lows of the year. We are not saying the exact thing will happen but we are very conscious of the possibility of this happening. If the last week of November plays similar to that of last year, we are looking at the following things: BEARISH VIEW Pump from 77.28 to 83/84/85 area and strong sell signals to sell Oil down further to test 2022 lows. Now the lowest level Price has been at in the year of 2022 is 74.2-3. This is a level that we may be looking for buys at come the start of Dec 2022 or Jan 2023. There is a significant 12 Green Vector candle from 201221 with a body bottom of 64.45 to also keep in the back of our minds. BULLISH VIEW In order to actually be fully bullish on this market we need to see a bottom formed at or around the area that the strong rejection has taken place (or better still at some of the levels mentioned below). We then need to see clear failures to break that bottom followed by some serious long signals like strong Bullish engulfing patterns in conjunction with a double bottom. It would also be good to see the turn of the year before really getting long blindly. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Lower levels to keep in mind: 76.26 - Although we have just come all the way back down to 77.28 on 181122, we didn't actually test the real low of 260922 but instead came within 100pips. This could be a Higher high indicating that the trend can still be up in the bigger picture. Furthermore, in coming to 77.28, it recovered a 4 Hour Blue Vector Candle from 260922. Things tend to go up when this happens. But equally it means if it s to for example want to make a double bottom, it probably will come back to 76.26. 75.66 - So when Price came down to 76.26 on 260922, it came within 60 pips of making contact with the next Green Vector candle below which would have been from 271221 at said price. The bottom of this Vector candle is actually at 73.4. 74.2-3 - As previously mentioned, this is the lowest that price was in the year of 2022. 73.4 - The bottom of the Green Vector candle from 271221 71.3 - Green Vector 69.46 -Green Vector 67.24 - Green Vector 61.8-62.7 - 2021 Key Support 57.2 - 2021 (March) Launch pad 51.5 - 2021 Low Higher levels to keep in mind: 83, 85, 87, 89, 93, 95, 97, 99, 103 (price gap) -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Good luck traders! This is not financial advice and should be taken with a pinch of salt!
TVC:USOILLong
by Squeeezy-Trader
USOil | New perspective for the week | Follow-up detailWe have been on a profit spree since taking advantage of the breakout of the most anticipated key level at the $86.00 zone. On Friday, we witnessed a 5% rally in the price of oil, and this is not unconnected to China's decision to ease the COVID-Zero policy and the market overreacted accordingly. Remember, China is the largest importer of Oil hence the ability to drive volatility. From a technical standpoint, as the price edges towards the $93.50 level, I am of the opinion that we wait and see how the price reacts to this level before either making a decision of adding to the existing buy position or hedh=ging out of the position. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
TVC:USOIL
by darcsherry
2
USOil | New perspective for the week | Follow-up detailThe OPEC+ production cut from two weeks ago is yet to reflect the anticipated consequence in the market as price action appears to be completing the retracement of the previous impulse leg that started a couple of weeks ago. A breakout of the $86 mark this week will be a signal for me to buy the USOil. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
TVC:USOILLong
by darcsherry
3
US OIL BUY IDEAHello Traders!!! So sorry this one is coming late been off the charts for some hours now just set the limit and went off. So we have seen the US oil make a clear bullish impulsive leg creating our very first choch on the higher timeframes and we have seen it making the retracement back into this demand zone with our classic ABC pattern and we have decided to buy from that zone. And watch the market create a new higher high. Cheers!!! Under Cover Trading Swing Trading Simplified!!!!
TVC:USOILLong
by Undercover_Trading
2
USOil | New perspective for the week | Follow-up detailFollowing the OPEC+ decision to cut oil production 2 weeks; we have witnessed an increase in the price of crude oil. However, during last week's trading session, there was a drop in oil prices which could be a s a result of "take profit" activities and we still do not know how far the retracement move will go. It appears that the fears of recession and weak oil demand, especially in China, is outweighing the move to cut oil production at the moment, but from a technical standpoint, this video explains where to look out for buying opportunities that is likely going to be inciting the second phase of the bullish momentum that started two weeks ago. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
TVC:USOILLong
by darcsherry
4
USOil | New perspective for the week | Follow-up detailOPEC+ had its first physical meeting since the pandemic last Thursday and has decided to cut oil production which is definitely going to have an immense impact on price movement in the coming week(s). The impact of this event could be seen on the chart as we witnessed a significant breakout of the key level at $86.00 to set a bullish tone against the new week as Crude oil continues to soar on the wave of this decision. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) is high-risk and unsuitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
TVC:USOILLong
by darcsherry
3