USD/JPY short on break of counter trendlineUSD/JPY rejected this zone and is heading lower. On a break of his counter trendline we can go short. Risk/reward is 1:2
WTI-OIL
GBP/USD trading opportunities in coming weekGBP/USD is in a key area and we have had two 4hr inside bars. A break above this area would show that support is holding, therefore giving long opportunities. A break below weekly support at 1.2420 would see us short to around 1.2250-1.2200. It is important to remain unbiased and trade what we see here
USOIL. Blitz. Another Drop To Finish CorrectionSetup is based on the clone of the left part.
We are in a wave B before another drop down.
Last time price got over 61.8% of wave A in wave B.
So setup is as follows:
Entry short: 53.12 (61.8% Fibonacci)
Stop 54.33 (above the top of A)
Target 50.01 - round number ahead of C=A.
OIL SHORT: Commercial hedging at multi-year highsCommercial hedging short interest is at multi-year highs - back to where it was in summer 2014 when oil topped at around $100.
Hedgers are locking in current prices as they believe they are extremely attractive in the medium term.
Speculative positions are also at multi-year highs - making oil prices prone to a downside squeeze.
WTI may have set in a near-term top and, although we could see $60 tested in the next few months, oil will continue to be pressured to the downside.
A stronger dollar, questions about OPEC compliance and weak global growth are all fundamental forces which support this view.
USD/JPY short idea with good risk:rewardUSD/JPY has been capped at the 61.8% Fibonacci retracement after a nice rally and now stands in this ascending channel. This pair has been making lower highs and lower lows so is in a technical downtrend, alongside trading in this descending channel. If prices break this channel I will go short and target the monthly support at 111.50.
Crude OilOn background the down_trend (on higher TF) we probably have correction from fibo line 0.618 level. So, setup pending sell order on breakout the fractal_based line. Dont forget about Stop Loss! (short_term trend is rising, so we will follow the rising trend if trade will stop by Stop Loss). I want take a great part of the reversal movement!
So, follow my signals to profit trading!
Crude oilWe have the down_trend. Some of signals confirm that (mark on the chart). We need breakout the next fractal_based line for add more short orders and stronger down_trend!
Dont miss new signals for more profit orders!
USOIL Continuing Down MoveWTI Crude Oil projection on the weekly until the week of May 8th 2017. Then stay tuned..
Cheers,
Keops
After a small rebound observed Powei situation, the downward treAfter a small rebound observed Powei situation, the downward trend.
WTI OIL Long idea after pullback Hello traders!
Curently watching Oil closely as it appears it's starting to have a clear direction after Iraq's recent statements of not be willing to cut production. Currently short but will start to look for long entry if the current run will show deceleration at Fib levels; bonus points if 50EMA will meet price at 0.382. It's also worth noting that MACD is showing massive divergence.
USCOIL / WTI SHORT-TERM SHORT TRADEI can see a clear trend reversal after hitting a major resistance point at $50. This leads me to believe than in the short-run there is enough room for oil to tumble. Scenario #1 is that there is a weekly window during which oil will fall to around $45 and bounce off. Scenario #2 is that oil tumbles down to its previous major level of support at $29. Overall I have a bearish sentiment on oil. This mainly stems from OPEC's inability to regulate supply. More specifically, I see no intention from S.A. to cut its supply. This leads me to think that the market will revaluate oil at around $30. That is mainly due to S.A.'s ability to produce oil at a cost of $20-25 -per barrel which in the short term will create a market failure.
Oil completes inverse head and shoulderOil prices have completed inverse head and shoulder formation. On the weekly chart we can clearly see prices tested neckline level of $51.90
A successful breach of inverse head and shoulder would give us upside target of $77.70, which as of now appears over ambitious and could possible happen only if we get a bigger OPEC output cut.
On the other hand, failure to reach a deal at a time would mark failure at neckline level, which in itself is a highly bearish formation.
WTI and Long Trades Here is an example how we could catch this up movement and make good profit. Entry level 1 - price bounced from Senkou A and RSI confirmed price reversal. Entry level 2 - price broke the cloud and we got reversal signal from Senkou B. Rising ADX confirmed breakout and up movement. Entry level 3 - price bounced from Tenkan with confirmation from RSI. DMI shows strong up movement.
You can get such signals if you use Sunrise Trading Strategy. For more information, please send me PM or leave your questions in comments.
52.50 before the Oil Selloff?We appear to have completed a wave 4 triangle and are now looking for a final 5 wave rally before a massive selloff begins.
WTI Upside Technical Analysis:
We can see that an inverse head and shoulders pattern is developing on the weekly chart. Assuming price breaks the neckline at around 50.60, we can expect upside potential towards 60.
Fundamental Analysis:
OPEC agreeing on a production freeze will help to support oil prices in the near future. Also with the FOMC holding off raising interest rates for September has also helped maintain a reletively soft USD. Which should further support oil prices.
Above the resistance level: 47.73Above the resistance level: 47.73
But there should be a walk in the descending triangle pattern.
If you have good news or speculation, then touched 47.73, even beyond is entirely possible, Paul is resistance above.
After the final results of the international energy conference next week, week 3, high probability not reach an agreement, then OK, just go 5 3 Adjust the waves of the stock market rose, the downward trend is continuing up.
WTI long to $46.20Wyckoffian completion at 46.20. Yours there with late buyers coming in. 45.30 possible sticking point due to UVA resistance.
