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Westtexasoil

West TexasIDEA: Daily Pivot up, Trade Daily S1-R2... Buy the dip Technicals: Daily Average Pivot and the trade entry pivot are at the same point. Expecting this to cause strong support for the long move @ Daily S1 Pivot 49.036. Profit target set at Daily R2 Pivot 51.082. Looking for Fibonacci support on the way up to profit target. Fundamentals: North Korea fired another missile over Japan a few hours ago. Nuclear tension usually sees oil prices rise. Its also Quarduple Witching Friday. DISCLAIMER: This is where I practice ideas and work on my trading techniques. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal. Trade at your own risk.
OANDA:WTICOUSDLong
by fionnablack
WTI long continuationWTI has recently bounced long but in the previous sessions it is drifting without any strong directional confirmation. For the upside to continue I am expecting price to hold long above the 45.65-45.80 zone and also show increasing strength through 46.70-46.94 to confirm upward pressure. DISCLAIMER: This is where I practice ideas and work on my trading techniques. This is not investment advice. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal. Trade at your own risk.
OANDA:WTICOUSDLong
by fionnablack
Crude Remains Under Downward PressureCrude Oil sold off today, falling .43 points and continuing to stay well under the 7 day moving average. And while the haDelta indicator last Tuesday gave a potential reversal signal (see the yellow circle?), there is no indication that the downward wave is finished. The bottom indicator is the Elliot Wave Oscillator. It, too, is showing strong downward movement. I am expecting price to keep moving lower towards the 47.70 - 47.15 range. The first is the lower Bollinger Band and the second is the yellow trend line. Zoomed out chart to show the entire trend line. The Heikin-Ashi chart shows that Monday's Heikin-Ashi candle was a decent recovery after last Firday's doji. While it wasn't the strongest of candles and is still inside of last Thursday's candle, it is still red and confirms the downward trend. If you like this post, please click the Lick button, tell your friends, and re-Tweet! Disclaimer: This post is for educational purposes only. Trading is at your own risk.
NYMEX:CL1!Short
by GoldBands