order for light crud oil *The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
4A1! trade ideas
Technical Forecast... Crude OilWith FOMC looming today and NFC I don't see any reason for the Weekly SSL to be taken out and price to at least stab into the Daily FVG.
I will be looking out for meaning full moves into these price points during NY session today.
London may offer a little chance to create some false idea we have done it but usually the move is fake and revisited.
80.50 is my weekly objective as it has been from late last week.
So my trade idea's will evolve around price post retracement and then heading down.
possible long buying might get started here, for the 82.82 zone to make HL ... if the price stays above 80.80
CRUDE OIL (FUTURES): 1 MAY, 2024© Master of Elliott Wave Analysis: Hua (Shane) Cuong, CEWA-M
The broader context indicates that wave (ii)-purple appears to have just ended, and wave (iii)-purple is being initiated to push lower.
In the short term, wave (iii)-purple seems to be opening up to push lower. Wave i-blue is currently in progress, and surpassing the level of 82.14 would indicate the onset of wave ii-blue, preparing for the subsequent wave iii-blue to push lower.
Invalidation point: 84.46
Crude Oil WTI - Long Trade IdeaHello hello,
My bias is still long. I will link that analysis to this one. So, I am looking for a continuation to the upside.
At the moment, everything looks good for a continuation to the upside. The Monthly candle closed above the annotated Monthly SIBI, and a new Monthly BISI was created. What i'm looking now is for price to come into any of those areas, but it will likely enter both. I have annotated 2 POIs for a trade on the Daily timeframes. My "R2F" and "Megaphone" setups are ready to go.
The stoplosses illustrated are standard, so the safest thing to do is to wait for confirmation before solidifying a stoploss. The Monthly candle only JUST opened, and as we know the wicks can paint outside of the lines.
Anyway, I'm looking forward to see how this pans out. I don't usually trade Oil, but futures are generally cleaner than some Forex pairs like USDJPY.
- R2F
CRUDE OILPreferably suitable for scalping and accurate as long as you watch carefully the price action with the drawn areas.
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Crude Oil Tuesday.Daily Bearish
Stay Bearish bias until 1hr -OB is closed above with a displacement candle @ 83.25
In this chart I am illustrating why IMO, this is a High resistance Liquidity run and not LRLR.
The Price in the circle is Balanced, so for price to cut through this with ease is difficult all be it we have a signature LRLR bellow.
So if a bearish setup appears don't expect it to run through like butter..
I am looking for bearish PA
OIL longexpecting oill to go to top of weekly range
in other words high of IPDA 20
1h OB low risk/ 5 min fvg entry
Crude Oil ForecastSo I was looking at Crude on the weekend and I couldn't determine a clear direction for Monday.
Now Monday Is almost over and we Have disrespected the Mean threshold of the Daily +OB I do expect price to be bearish and heading down towards the Daily FVG.
An Good indicator on the Daily we have respected the WEEKLY ifvg CE.
These things are very important to watch.
Before 0930est I will post intra day targets that I suspect will be Draw On Liquidity.
Bring on Tuesday!
If support holds soon, we could rip higher all week. But...Nobody knows the future so I just track parameters using Elliott Wave and also s/d zones. Let's see where support holds and I'll be watching for an impulse higher to signal the bottom is in. Otherwise, if we break 83 with feeling, then I'll watch 82 and 80.70 for support levels. If all of those break, then any meaningful rally is delayed for weeks or more. All imo...
CRUDE OIL LONG TO $100+ BY END JULYCRUDE OIL, is expected to find a bottom really soon based on fib and if this is a 1-2 1-2 (elliot wave), we are about to be hit by a monster 3, driving prices to $100+ by mid-end july. I believe there is a strong chance we hold these levels drawn below. IT IS possible we come lower than those levels to get a deeper retest before going higher, as long as we dont break the lows, Crude oil is in for a rally.
Crude Oil May Future Technical Analysis for 29 AprilThese levels provide guidance for traders interested in trading Crude Oil MCX Futures in May, offering specific entry points, target prices, and stop-loss levels to manage risk.
Range Point: 6,999
Intraday Range: 85 points
Buy Above: 7,011
Average At: 7,001
Buy Target 1: 7,052
Buy Target 2: 7,084
Buyer Stoploss: 6,982
Sale Below: 6,990
Sale Target 1: 6,946
Sale Target 2: 6,914
Seller Stoploss: 7,019
CRUDE OIL (FUTURES): 28 APR, 2024© Master of Elliott Wave Analysis: Hua (Shane) Cuong, CEWA-M
The broader context suggests that the ((ii))-green wave has just concluded, and the ((iii))-green wave is currently unfolding to push lower.
In the short term, the outlook indicates that the (i)-purple wave has recently completed in the form of an expanding diagonal, followed by the (ii)-purple wave unfolding to push higher, targeting the 85.05 level.
Invalidation point: 81.99
OIL AnalysisPrice has invalidated my original short idea, which is great.
Currently holding HTF PD Arrays
2 scenarios
we continue higher off the 1h huge imbalance which I am not comfortable getting into right now
We dig into the BPR printed on Thursday, which is much more favorable
ADDITION to Orginal OIL shorttaking a short with a tight stoploss ( $82.71) just above midpoint of 1h FVG
Looking to take equal lows at bottom of the 20 Day IPDA period.
2024-04-25 - a daily price action after hour update - oil
wti crude oil
comment: Market is making marginally higher highs on the 1h tf but it’s a reasonable triangle we are in. I think it will chop some more inside before another breakout and I think that will be news related/event driven.
current market cycle: trading range
key levels: 80-86 but converges inside 82-84
bull case: Bull legs inside the range look stronger (1h tf or lower) but they are not gaining much higher prices for now. If they could break 84, we will almost certainly see 85 and maybe 87 again.
bear case: On higher time frames bears are still in control below 84. We are at the triangle top and they want to trade back down here or they risk retest of 84/85. Market is wildly ranging with prominent tails above and below candles. Need very wide stops to trade this.
short term: Sideways to down - Two legged correction as drawn in pink
medium-long term: Will update this once equities show more weakness. My thesis for many months now is, that we will see a big shift - Equities off - Commodities on. —unchanged
trade of the day: Bulls turned 82.5 into support and the bar 12 was strong enough to go long above.
CL1! (CRUDE OIL) ... BULLISHBullish.
After forming a new peak high,
price retraced to the +FVG.
Friday's "news wick" tapped the
-FVG above and quick returned
the +FVG. Should the +FVG hold,
expecting price to move toward
the highs, as price moves from
Internal -> External liquidity.
The LRLR to the lower left is a
draw on LQ that bears watching.
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Crude hits weekly demandCrude oil is tapping a weekly demand on a wick today, I use this chart to assist in my OXY moves. This would be a decent zone to add to an open position. I circled the candle I used to create the demand zone for educational purposes. I like to take the bottom wick of the red candle leading to a rally and end the demand one on the adjacent candle body towards the bottom end. I do not like to use thin candle bodies as demands if they can be avoided.
-77-81$ seems like a buy zone here on the weekly for continuation
-My target of 90-92$ remains
