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WTI (Crude Oil)

GBP/NZD and SUGAR/USD on watch for me today.GBP/NZD: • If price pushes up to and ideally just above our lower rayline and it does so correctively, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. SUGAR/USD: • If price corrects and a tight one hour flag forms, then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
OANDA:SUGARUSD
by StewySongs
1
WTICOUSDThe West Texas Intermediate Crude Oil market has initially rally during the trading session on Monday, reaching towards the crucial $85 level. The $85 level of course has a certain amount of psychological importance attached to it, so it is worth paying attention to the fact that we have fallen from that level. The market forming a bit of a shooting star suggests that we are ready to pull back just a bit, but I do think there is enough support underneath to keep this market going forward. All things been equal, the market is very bullish, and nothing has changed. I anticipate that there is probably a certain amount of resistance to the $85 level based not only upon psychology, but probably based upon the options market as well. Nonetheless, I do like the idea of pulling back and finding value that we can take advantage of going forward. The $82.50 level attracts a certain amount of attention, and most certainly the $80 level will as well. I think the $80 level is your short-term support level, and therefore I think that is the bottom of the overall range. Keep in mind that there is a major amount of demand for crude oil, and we had also seen a lack of production during the pandemic, so therefore we have a bit of a “perfect storm” for higher pricing as the economies around the world continue to reopen, and of course demand surges for energy. We are not only seen this in the WTI market, but we are seeing it in the Brent market, natural gas markets, and quite frankly even the coal markets. In other words, anything energy related is going to continue to have quite a bit of momentum attached to it. With that in mind, I think this continues to be a “buy on the dips” scenario, and therefore I am not looking for selling opportunities. Longer-term, I do think that we break above the $85 level and go looking towards the $90 level. Looking at this chart, the market has been very bullish, and should continue to be so as we are simply grinding away in a 45° angle, which is a very healthy amount of momentum overall. It is not until we break down below the 50 day EMA that I would consider shorting this market.
OANDA:WTICOUSDLong
by SmoothJB
WTICO/USD, GBP/JPY, GBP/NZD and AUD/USD on watch for me today.WTICO/USD: • If price corrects and a tight one hour flag forms, or it impulses down still further, it does so in a convincing manner and a subsequent tight one hour flag forms, then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. GBP/JPY: • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure and it does so correctively, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. GBP/NZD: • If price pushes up to and ideally just above our lower rayline and it does so correctively, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. AUD/USD: • If price pushes up to and ideally just above our upper rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight one hour flag and then I'll be looking to get short either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
OANDA:WTICOUSDShort
by StewySongs
WTICOUSDThe West Texas Intermediate Crude Oil market fluctuated on Tuesday as it sits just above the $80 level. When you get a strong move to the upside like we have had, the market will either go sideways to digest its gains or pull back. At this point, it looks like we are going to settle on grinding sideways and digesting the previous move. If we were to turn around and break down from here, there are multiple areas where I would anticipate seeing support, especially at the $75 level. That being said, the market also sees the $77.50 level as a potential buying opportunity as well. Crude oil continues to be very tight as far as supply is concerned, so I have no interest in trying to get too cute and short this market. The market is very likely to go much higher over the longer term, so I think it is simply a matter of waiting for an opportunity to get long of crude oil yet again. In fact, it is likely that we would see plenty of opportunities going forward, and most people believe that crude oil is going to go looking towards the $85 level. The candlestick for the day is very indecisive, and I think that is likely to be how we behave between now and the end of the week. If we broke above the top of the shooting star for Monday, then I think it would open up a move towards the $85 level rather quickly. The market will almost certainly see an increase in momentum at that point, so I believe that it is probably going to be a signal to get somewhat aggressive to the upside. Again, I do not see any situation in which I would be a seller, because the market is tight from a supply standpoint and should continue to be so for the foreseeable future. In fact, when you look at the futures curve, it is not until late next year when you start to see prices drop back down towards the $60. I think this is going to continue to be an issue going forward, so we need to pay close attention to some type of “blow off top”, but we are nowhere near seeing that right now.
OANDA:WTICOUSD
by SmoothJB
WTICO/USD on watch for me today.Good morning all. I hope you're having a fantastic week so far. So I'm currently still in my EUR/GBP trade (for the moment at least). The momentum never really kicked in to the upside as I'd hoped and then price retraced very aggressively in true EUR/GBP style. On the balance of probability I thought at this point that I'd probably be tagged out for a loss simply because of the momentum that had come in to the downside. However I also saw what had preceded this move as a completed three touch pattern and I know from my testing how after a completed three touch pattern price will sometimes scoop back down to retest the third touch and then the momentum will kick in in our forecasted direction and that's exactly what happened and one of the reasons I thought that this might happen is because of what happened the last time a three touch structure broke below a daily double bottom which I've replicated for you in my last post using the Bars Pattern tool. Granted it doesn't look identical to what's happened this time around because one piece of price action never looks identical to another, but hopefully this shows you how it's possible for us to trade raw price action without us paying any attention to the news and that's because patterns repeat themselves because human beings repeat themselves. So that's me marginally in profit on this trade with my stop loss now at break even. I may well be tagged out for break even soon, but EUR/GBP is notorious for pulling back violently before it continues in the direction that it was headed so let's see what happens. But this is why we as traders always need to remain neutral and open-minded so that our bias doesn't cloud our judgment. My forecast for today I've posted below. Have a great day! WTICO/USD: • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure and the last part of the move is corrective, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it. • If price only pushes up to and ideally just above our upper rayline and the last part of the move is corrective, then I'll once again be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it but I'll be hiding my stop loss above our upper ascending trend line for extra protection. • If price pushes up impulsively to and ideally just above our upper rayline, then I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
OANDA:WTICOUSDShort
by StewySongs
1
WTICO/USD on watch for me today.Good morning all. I hope you're having a fantastic week so far. So I'm currently still in my EUR/GBP trade (for the moment at least). The momentum never really kicked in to the upside as I'd hoped and then price retraced very aggressively in true EUR/GBP style. On the balance of probability I thought at this point that I'd probably be tagged out for a loss simply because of the momentum that had come in to the downside. However I also saw what had preceded this move as a completed three touch pattern and I know from my testing how after a completed three touch pattern price will sometimes scoop back down to retest the third touch and then the momentum will kick in in our forecasted direction and that's exactly what happened and one of the reasons I thought that this might happen is because of what happened the last time a three touch structure broke below a daily double bottom which I've replicated for you using the Bars Pattern tool. Granted it doesn't look identical to what's happened this time around because one piece of price action never looks identical to another, but hopefully this shows you how it's possible for us to trade raw price action without us paying any attention to the news and that's because patterns repeat themselves because human beings repeat themselves. So that's me marginally in profit on this trade with my stop loss now at break even. I may well be tagged out for break even soon, but EUR/GBP is notorious for pulling back violently before it continues in the direction that it was headed so let's see what happens. But this is why we as traders always need to remain neutral and open-minded so that our bias doesn't cloud our judgment. My forecast for today I've posted below. Have a great day! WTICO/USD: • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure and the last part of the move is corrective, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it. • If price only pushes up to and ideally just above our upper rayline and the last part of the move is corrective, then I'll once again be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it but I'll be hiding my stop loss above our upper ascending trend line for extra protection. • If price pushes up impulsively to and ideally just above our upper rayline, then I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
Short
by StewySongs
NZD/JPY and WTICO/USD on watch for me today.NZD/JPY: • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short either a reduced risk entry on the break of the flag or a risk entry within it. • If price only pushes up to and ideally just above our upper rayline, then regardless of how it does so I'll once again be waiting for a convincing impulse back down followed by a tight one hour flag and then I'll again be looking to get short either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. WTICO/USD: • If price corrects and a tight one hour flag forms, then I'll be looking to get short with a risk entry within the flag. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
OANDA:WTICOUSDShort
by StewySongs
2
WTICOUSDhe West Texas Intermediate Crude Oil market has broken higher during the course of the trading session on Thursday as we broke above the $70 level. That is an area that I have been talking about for a while, and the fact that we broke above there is a very good sign and it is likely that we could go looking towards the $74 level. The $74 level is an area where we have sold off drastically in the past, and as a result it looks like we are going to continue to see that as important. On the other hand, we could turn back around and go looking towards the 50 day EMA underneath, which is near the $60.75 level. That is an area that I think could offer quite a bit of support, and therefore think it is only a matter of time before the buyers would come back into that area. At this point in time, the $67 level is an area that has been support during the previous session, as well as many other days. As long as we can stay above the $67 level then it is likely that we will continue to go higher. However, breaking down below that level would open up a completely different scenario. If we were to break down below the $67 level, then it is likely that the market would fall towards the $65 level, possibly even the 200 day EMA after that. When I look at this chart, that could very well be what happens next, but once we get past the jobs number will have a quite a bit more in the way of clarity, so therefore it is worth paying attention to how things end up at the end of the session. I feel at this point time we are at the precipice of some type of bigger move, so it is interesting to see how the market plays out at the end of the day. The size of the candlestick is relatively impressive, although I do not necessarily think that it is an explosive move to the upside. If we can break above the top of the candlestick, then it is likely that we go much higher. Ultimately, this is a market that looks like we are going to see volatility coming soon. In that scenario, the end of the day on Friday is crucial.
OANDA:WTICOUSD
by SmoothJB
GBP/NZD, WTICO/USD and EUR/JPY on watch for me today.GBP/NZD: • If price pushes up above our rayline, it does so impulsively and in a convincing manner and a subsequent tight one hour flag forms, then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. WTICO/USD: • If price pushes down to and ideally just below our upper rayline and the last part of the move is corrective, then I'll be looking to get long with a risk entry either after a phase line break, or just above a one hour or a fifteen minute rejection from it. • If price only pushes down to and ideally just below the lower ascending trend line or our most recent piece of structure and the last part of the move is corrective, then I'll again be looking to get long with a risk entry either after a phase line break, or just above a one hour or a fifteen minute rejection from it, but I'll be hiding my stop loss below our upper rayline for extra protection. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. EUR/JPY: • If price pushes down to and ideally just below our upper rayline and the last part of the move is corrective, then I'll be looking to get long with a risk entry either after a phase line break, or just above a one hour or a fifteen minute rejection from it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
Long
by StewySongs
1
WTI Crude Oil (Will the new Delta Variant bring the price down?)Updated View On WTI Oil (5 Aug 2021) We are seeing potential toppish region near 75~77 region and the regions shall hold of any advancement of the oil price. With the surge on the delta variant, I am expecting we shall see more BEARish pressure on the oil price. This time around it could go to support the price of $66 first and then $61 region. DYODD, all the best and read the disclaimer too. Feel Free to "Follow", press "LIKE" "Comment". Thank You! Legal Risk Disclosure: Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor. DISCLAIMER: Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice. Sonicr Mastery Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
OANDA:WTICOUSD
by SonicDeejay
2
WTICO/USD, USD/CAD, NZD/JPY and AUD/CHF on watch for me today.WTICO/USD: • If price corrects and a tight one hour flag forms then I'll be looking to get short with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade. USD/CAD: • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If price simply impulses back down, it does so in a convincing manner and a subsequent tight flag forms, then I'll again be looking to get short with a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades. NZD/JPY: • If price impulses back up above our rayline, it does so in a convincing manner and a subsequent tight flag forms, then I'll again be looking to get long with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade. AUD/CHF: • If price impulses back up above our rayline, it does so in a convincing manner and a subsequent tight flag forms, then I'll again be looking to get long with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade.
by StewySongs
1
WTICO/USD, GBP/CHF and AUD/USD on watch for me today.WTICO/USD: • If price pushes up to and ideally just above our outer structure upper rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If price simply impulses back down below the upper rayline of our most recent piece of structure, it does so in a convincing manor and a subsequent tight flag forms, then I'll again be looking to get short with a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades. GBP/CHF: • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If price only pushes up to and ideally just above the upper rayline of our most recent piece of structure, then regardless of how it does so I'll once again be waiting for a convincing impulse back down followed by a tight flag and then I'll again be looking to get short with a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades. AUD/USD: • If price pushes up above our previous high, it does so impulsively and in a convincingly manner and a subsequent tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade.
by StewySongs
2
USD/JPY, AUD/USD and WTICO/USD on watch for me today.USD/JPY: • If price corrects and a tight one hour flag forms then I'll be looking to get short with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade. AUD/USD: • If price corrects and a tight one hour flag forms then I'll be looking to get long with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade. WTICO/USD: • If price pushes up to and ideally just above our outer structure upper rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If price only pushes up to and ideally just above the upper rayline of our most recent piece of structure, then regardless of how it does so I'll once again be waiting for a convincing impulse back down followed by a tight flag and then I'll again be looking to get short with a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades.
OANDA:WTICOUSD
by StewySongs
EUR/CAD, WTICO/USD, EUR/AUD and USD/JPY on watch for me today.EUR/CAD: • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If price simply impulses back down below our rayline, it does so in a convincing manor and a subsequent tight flag forms, then I'll again be looking to get short with a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades. WTICO/USD: • If price pushes up to give us a confirmed first top, it then pushes down to give us a confirmed second bottom and then it pushes back up to give us a confirmed second top and the last part of the move is corrective, then I'll be looking to get short with a risk entry after a phase line break on either the one hour or the fifteen minute chart. • If price pushes up to give us a confirmed first top, it then pushes down to give us a confirmed second bottom and then it pushes back up to give us a confirmed second top and the last part of the move is impulsive, then I'll be awaiting a subsequent convincing impulse down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades. EUR/AUD: • If price pushes up, it so impuslively and in a convincing manner and a subsequent tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade. USD/JPY: • If price pushes up, it does so impulsively and in a convincing manner and a subsequent tight one hour flag forms, then I'll be looking to get long on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade.
by StewySongs
USD/JPY, GBP/CHF and WTICO/USD on watch for me today.USD/JPY: • If price pushes up to and ideally just above our previous high, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade. GBP/CHF: • If price impulses down below the ascending trend line to the left, it does so in a convincing manner and a subsequent tight flag forms, then I'll be looking to get short with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade. WTICO/USD: • If price pushes up to and ideally just above our most recent high, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If price simply impulses down below our most recent low, it does so in a convincing manner and a subsequent tight one hour flag forms, then I'll be looking to get short with a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades.
OANDA:WTICOUSDShort
by StewySongs