Wtioil
OIL SHORThello traders.well we are in weekly supply zone and as you see in 4hr, bearish candle closed under the last low and changed the trend direction(CHOCH).so in pullback in smaller time frame we wait for reason to open short position.
R:R 1.85
what do you think?
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WTI OIL Broke below the Channel Up. Potential downtrend startingWTI Oil (USOIL) broke yesterday below the 1.5 month Channel Up and is now the farthest it's been from the 4H MA50 (blue trend-line) since the June 28 bottom. As long as it fails to close a candle above the 4H MA50, the short-term trend remains bearish, targeting the 4H MA200 (orange trend-line) at 78.50. If however it closes above the 4H MA50, we will buy and target Resistance 1 at 84.85.
An addition indicator for buy and sell is the 4H MACD. Once it makes a Bullish Cross, you can buy for quick short-term profit and similarly once it makes a Bearish Cross, you can sell.
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WTI CRUDE OIL Sell opportunity at the top of the Channel Up.WTI Crude Oil / USOIL is trading inside a Channel Up with the price reaching its top.
The Higher Highs trend line is technically the lowest risk sell entry, as long as it holds.
Every pull back inside this formation has been at least -4%.
Sell, aiming for a similar decline, targeting 81.20.
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WTI CRUDE OIL: Overbought on 1D but still bullish.WTI Crude Oil turned overbought on the 1D time-frame (RSI = 70.618, MACD = 2.330, ADX = 75.260) as it is extending its relentless rally inside a Channel Up pattern since the June 28th low. This 1 month uptrend is approaching the R1 (83.50), which is the High of April 12th and current Resistance. We are using this as a short-term buy opportunity (TP1 = 83.50). As long as the Channel Up holds, we will buy again upon a pull back (TP2 = 85.50). If the price crosses under the 4H MA100 though, it would mean the end of the bullish trend, and we will shor, targeting S1 (TP = 74.00).
Prior idea:
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WTI CRUDE OIL Very strong sell signal on top of the Channel DownWTI Crude Oil has hit the top of the 11 month Channel Down.
Along with that, it reached the MA50 (1w) for the first time in also 11 months (since August 30th 2022).
This is the strongest sell signal the November 7th 2022 Lower High.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 66.80 (Support 1).
Tips:
1. The RSI (1d) is getting rejected on a Double Top formation near the overbought level. If it crosses under the MA trendline, it validates the sell signal.
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Notes:
Past trading plan:
Technical Analysis of WTIGoing into Wednesday's European session, WTI crude oil closes around $79.00 at an intraday low. It posted its first daily loss in five days after reversing from its highest level since April 19. This reversal occurred amid overbought RSI conditions amid a five-week-long rising wedge bearish chart formation.
WTI sellers are favored by the recent downside break of an upward-sloping support line from Monday, now close to $79.20, as well as the looming bear cross on the MACD indicator.
Oil bears are well positioned to push the mid-July peak of $77.20. A convergence of the wedge's bottom line and the 50-Easiest Moving Average (EMA), near $76.70, would confirm the commodity's further downside.
In the following periods, the 200-EMA level of around $73.80 and the previous monthly low of around $67.00 will be in focus. It may, however, function as an intermediate halt at $70.00.
In terms of theoretical targets, the rising wedge is aimed at $64,000.
A break above $79.20 could again aim for successful trading beyond the $80.00 psychological magnet if the immediate support-turned-resistance line breaks to the upside.
As a result, WTI bulls will be lured by March's high of $81.05, followed by April's peak of $83.40
WTI CRUDE OIL: First time on the 1W MA50 since August 2022!WTI Crude Oil reached the 1W MA50 on today's session for the first time since the weekly candle of August 29th 2022, so the level has been kept intact as a Resistance for 11 months straight. The 1W time-frame is neutral (RSI = 54.478, MACD = -1.030, ADX = 19.324) indicating that on such a strong long term Resistance, this is a low risk sell entry.
We will trade this however after a bearish breakout and the trigger will be give if the price crosses under the HL trendline, in which case we will target slightly over the 1D MA100 and S1 (TP = 74.00). Beyond that, if a subsequent rebound gets rejected on the 1D MA200, we will sell again and target slightly over S2 (TP = 67.10).
Watch if the 1D RSI gets rejected on the 68.75 Resistance. It will be a Double Top rejection.
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WTI CRUDE OIL: Critical triple Support level. Huge downside beloWTI Crude Oil got heavily rejected on the 1D MA200 on Friday (the 1D RSI also on the oversold 70.000 level), the long term technical Resistance of the asset, and now the 1D timeframe is very close to turning neutral (RSI = 55.9310, MACD = 1.200, ADX = 35.829) for the first time since July 5th.
Today the price has hit three key support levels, the HL trendline since the bug rally started, the 1D MA100 and the 4H MA50. Practically, a candle close under the 1D MA100, is a sell extension validation and we will see to target first the 1D MA50 (TP1 = 71.75) and secondly the S1 (TP2 = 66.80).
As long as the Triple Support holds, we will buy since the risk is very low and target the 1D MA200 again (TP = 76.90).
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WTI ANALYSIS after change of charatcter we will see a retracement of the price to fill FVG '' FareValueGAp'' and retest ob ''order block'' after we will see a continuation to wards supply zone
WTI CRUDE OIL approaching the MA200 (1d) for the ultimate sellWTI Crude Oil crossed over the MA100 (1d) and is headed for the MA200 (1d) where 3 months ago (April 12th) had the strongest rejection possible.
This is a strong technical sell opportunity, with the price also being near the top of the 1 year Channel Down.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 66.80 (Support 1) and if a (1d) candle closes below, extend selling to 63.65 (Support 2).
Tips:
1. The RSI (1d) is headed for the 70.00 overbought level. Last time that high it was on the April 12th High rejection.
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Notes:
Past trading plan:
WTI CRUDE OIL Over the 1day MA50. Bullish break out.WTI Crude Oil closed yesterday over the 1day MA50 for the first time since April 28th. The 1day MA50 was a Resistance with 3 clear rejections since.
This is a technical bullish breakout, targeting the 1day MA100 at 73.50.
If rejected there, sell and target the Support Zone at 67.50.
If it closes a candle over the 1day MA100 too, buy again and target the 1day MA200 at 76.50.
The 1day RSI is on a Rising Support, which can be used as a sell target and buy entry.
Previous chart:
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wti scalp trade trade scalp on wti
tp 20 to 30 pip
and after 20pip risk free
no stop but You just have to follow the capital management
You will enter one tenth of the capital
Consider the spread
✅WTI OIL BREAKOUT|LONG🚀
✅WTI OIL broke the key
Horizontal level of 69.7
So out local bias is bullish
And I think that the price
Will go further up
LONG🚀
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Short Crude Oil on ResistanceIn crude oil trading today, we made good profits in the trading strategy of shorting crude oil in the 70.6-70.8 area twice.
Judging from the current structural trend, crude oil will maintain range shocks in the short term, and fundamentally still maintain a short position. Although the inventory data has declined for two consecutive weeks, the pressure on the demand side is still very weak, and the U.S. dollar index has rebounded.Crude oil as a whole tends to run in a bearish trend. In terms of short-term structure, crude oil is currently facing the resistance of 71-71.2. If this area cannot be effectively broken through, then crude oil may still fall to the 69 position area at any time.
Therefore, before crude oil fails to break through the short-term resistance, it is mainly to short crude oil.
USOIL: @70.8-71 Sell, TP: 70.2
For more trading signals and trading plans, you can follow the bottom of the article to view the details!
🚨 WTI HIGH PROBABILITY BUY SETUP 🚨🚨 WTI HIGH PROBABILITY BUY SETUP 🚨
* Here we can see clearly the next potential move for West Texas Oil in coming trading week.
* It's going to be worth keeping a close eye on this trade, as WTI can generate tremendous profits if it is right trade.
* EP(BUY): 69.701
* TP: 70.747
* TP1: 71.550
* TP2: 72.153
* SL: 68.547
* Keep your eye close on your trading positions.
* Happy pip hunting traders.
* FXKILLA *
WTI rallies form range lows - break of $70 up next?WTI crude posted a strong rally from the $67 support level thanks to another strong drawdown of crude inventories. The fact it rallied over 3% despite the stronger US dollar and hawkish comments from Powell makes us wonder if it could have broken above $70 were the dollar not to dominate FX majors on Wednesday. Still, prices are trading within a range between $67 - $72/73, and whilst prices action remains choppy o the daily chart there are some opportunities to trade the range on lower timeframes.
A triple bottom has formed on the daily along with a 2bar bullish reversal (bullish piercing line). String volumes accompanied the rally from the $67.50 area to show demand around those lows and the OBV (on balance volume) broke above its previous swig high, which hints at a breakout for prices.
Prices are drifting higher at the open, but we’d consider bullish setups above or around the daily pivot point or 10/20 EMAs if prices pullback for a potential swing-trade long to $70.A break above which brings the resistance zones around $71 and $72 into focus.
WTI CRUDE OIL Straight buy and sell at the top approach.WTI Crude Oil / USOIL has rebounded again on the 2 month Support Zone.
It is under both the 4hour MA50 and MA200, so still a buy opportunity on the short term.
Buy and target the 1day MA100 and Rising Resistance at 73.50.
Then switch to selling again and target Support Zone at 67.50.
Previous chart:
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WTI CRUDE OIL at the bottom of the Channel Up. Buy.WTI Crude Oil reached the bottom of the 10 day Channel Up.
The RSI (4h) indicates that we may be at a bottom level similar to May 15th.
Trading Plan:
1. Buy on the current market price.
2. Sell at 73.50.
Targets:
1. 73.50 (MA100 1d).
2. 67.00 (Support 1).
Tips:
1. The RSI (4h) gives the strongest buy signal after it crosses under the 30.00 oversold level. Technically that is at 67.00. Use this indication to your advantage for a medium term buy.
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Notes:
Past trading plan:
Another bounce for Crude oil from this support? Crude oil is cheap again.
It bounced from this support previously, looking at the daily chart.
Traders await the FED policy meeting and new interest rate announcement. They should pause the hikes for the foreseeable future.
Targeting $71+ and $74+.
WTI sideways opportunity 12June2023WTI OIL
Is there an opportunity?
looking at the market structure in the last few weeks there has been a sideways with a fairly high distance.
XTIUSD BuyAs we have seen in gold that gold has formed a triangle patteren and now if we see at Crude Oil its also forming this wedge and has complete its E wave after completion of ABCD now it will be going Upwards so we will buying this commodity after it breaks 72.89 level and price sustain there then it will be a bullish move to 73.74 price level so we wil be waiting for price action while am posting this idea seems like there is a Bullish engulfing or morubozu is forming On H1 time frame so we will until we get a clear Price action too..
WTI Crude Oil Sell TP = 42.67On the weekly chart, the trend started on March 13, 2022 (linear regression channel).
There is a high probability of profit, since the channel is not yet closed. A possible take profit level is 42.67 ( this is the minimum take profit value, but it has a high percentage of payoff ).
But don't forget about SL = 98 .
Using a trailing stop is also a good idea!
Please leave your feedback, your opinion. I am very interested in it. Thank you!
Good luck!
Regards, WeBelieveInTrading
