WTI: Watch out for the Doha dropNo freeze in Doha means the hot-rumor-air will come out of this rally.
WTI-OIL
Where is the second entry point for Oil?The first entry level for Oil was when price bounced from MA100. Price moved higher with MACD and RSI confirmation. It was not clear exactly, was it a beginning of new up trend or not? But prices moved higher and closed above MA20. The high of the day will be the second entry point for those, who waited for more confirmations. Now we have MACD and DI confirmation for long trades. Weekly chart also shows that it's time for buying.
Crude Oil WTI downtrend channel play might correct to blue line Crude WTI in downtrend channel play, might correct to blue line
possible targets
t1 36.0
t2 34.0
Aggressive Sell Set Up for Oil!Please read all the commentary on the chart.
Also please refer to my previous posts and "big picture" view of daily charts to understand the context of this aggressive sell possibility.
Short term - Bearish (1-2 weeks)
Medium term - Bullish (6 months+)
Alternative aggressive buy -
Buy Oil with a stop below 41.11 and a target of at least 41.85.
Market Average vs. Energy Average Performance How the AVERAGE of SPY, QQQ, IWM &DIA and the AVERAGE of CL1! & NG1! have performed against one another.
wti shortafter the opening of trading is to wait for the pullback, and then open a short position
stop-loss 41.27
The first is very likely target 37.5
and so the price can for 1-2 weeks to fall to 32 or lower
wti shortOverextended move on no fundamentals, not calling a top in but at least a small correction, either from the top or on a break down to a lower part of the channel
Bottom for WTI on the next weeksAfter reach 38, wti will probably resume fall and get to around 20$, wich in my analysis can be a bottom zone from where the Oil will surge to a larger recuperation.
Clear SELL signalCrude oil failed to close above 200, 100 and 55 MA plus it also failed to cross previous high of 34.79
The only support is between 31.5-31.9 , Closing below 31.5 will fade the up run from 26.03 to 34.66
USoil. Short here (30.60) - Target 23Hello friends!
We are in a last wave down.
Lets catch it!
Entry 30.60
Stop 31.51
Target 23.00
Risk/reward 1:8
Best wishes!
Aibek
Usoil will go downOil has a big outset and now it on top, This week, I think, it will go to bottom his outset
MayBe a better SetUps as we all can`t imagine it35.80 USD: 2.Target (292 Chance)
33.97 USD: 1.Target (109 Chance)
32.88 USD: last Price
32.21 USD: last Support (67 Risk)
You can use the support levels as stop-loss price level.
And both targets also even as take profit price leves too, if you want.
But take care! Think about it - and create your own opinion! It`s your own decision...
Change/Risk Ratios are 1.63 C/R Ratio (1st) & 4.36 C/R Ratio (2nd)
Change/Risk Ratio = 1.Target/Support & 2.Target/Support
Best regards!
Aaron
Oil (WTI) LongTrading this on 4hr time frame but restrictions done allow me to publish that chart.
Long at 30.63, SL 29.33, TP 37.00
4hrly stochastic sub 20
4hrly seeding pattern (2 higher high and higher lows)
USOIL. Buy on break up. Sell and Reverse on top of E.Hello friends!
Looks like US oil is shaping ABCDE triangle in wave 4 of (III).
Here is the tactics for trading on the chart.
Best wishes, Aibek
WTI medium term corrective patternOil is in the middle of medium term Elliott wave 4 corrective range (flat) pattern. As the wave (a) unfolded in to 3 (abc) pattern it have high probability to be the ranged 3-3-5 pattern with a possible break out up side in the last wave (c) to reach at least Fibonacci retracement level 38.2%.
As the previous time periods and Fibonacci time extensions match in close range it is possible for medium term corrective wave 4 to end near March 7-8d.
As the corrective pattern of wave 4 is mostly hard to predict the best would be to wait for it to end and look for beginning of the Elliott wave 5 pattern signs.
There may still be a shot for the USOILUSOIL is in the consolidation zone. Therefore, before it goes deep down, there still can be a correction or two which can be grabbed.
For today´s trade the pattern worked 100%
Please feel free to discuss and specially to criticize as this is my first idea.
Thank you for watching!
OIL SetupCrude oil now coming back to its Trend Resistance ... So selling in current conditions might be risky ...
