Crude Has More DownsideStrong Red TrapZone and Red UMVD for Oil futures, We are going down even further.
4A1! trade ideas
CL and PETR4 Oil and Petrobras in tandem.
Possible bottom in CL due to geopolitical situation in the midwest.
Please se video for exact points and opinion.
Thank you.
Crude in Wave 3 - Bullish ChannelBasically and continuation of previous published idea. Wave counts have been updated and the low at Wave 2 sets the lower channel. Wave 1 ended and was followed by and expanded flat Wave 2. Continued movement above the bearish downtrend channel continues to give great confidence we are seeing a trend change to bullish movement.
Friday's closing looks to have ended with an ABCDE triangle that will end in a Wave 5 on a lesser count. I'll take a snapshot of my minutes count and add to the replies.
Overall, I'm bullish. Looking to buy dips and will likely see and end to this wave in the 80's.
Thoughts and ideas only and charts and comments not meant for trading decisions of any kind. I advise you to due your own diligence, keep your own counsel, and trade at your own risk.
Crude Bullish Or Bearish today?Crude Bullish Or Bearish today? I think she will go down.........but you tell me your opinion? Due to the levels I thought they could break through and/or jump up lol....... I could be SUPER wrong but.......
My view on CrudeoilCRUDEOIL
double bottom breakout possible above 6175
looking tgt 6250-6300++
very short term
keeping on radar Crudeoil 6100 CE
WTI Crude oil - last update Our overview: Red Sea tension on focus again. Divergence on hourly RSI. On breakout and close on hourly timeframe above $74.00 push the price straight to area $75.60/$76.00. On the other side, breakout of $72.80 could push again the price towards the bottom of the trading range. Trends analysis: Primary(purple): upward corrective structure wave C, intermediate(green): upward impulsive structure wave 3, minor(yellow): upward impulsive structure wave 3.
Our current strategy: Neutral follow the market. Our current position's risk profile @$73.95: delta -0.03, gamma +0.24 Hedging point: not set
Crude at crucial Point strong up or down move likelyDay RSI if crosses 53 then an upmove likely 74.34 may be crucial level, also taking support on monthly pivot but should cross RSI 53 for upmove otherwise a downfall possible.
WTI crude looks set to retrace before its next big leg higherWTI appears set tor a cheeky retracement. Volumes were falling during its leg higher from $68, and Wednesday closed with an exhaustion candle. Note the strong trading activity around $70 which indicates some bears were caught short and bulls initiated, which assumes short-covering helped fuel the rally and any retracement towards $70 could also be supported.
From here we’re looking for prices to revert to $70. But given the strong support around the June lows / $68 and false break of $70, the bigger picture view is for a bullish rally to develop following a retracement heading into the new year.
$80 seems feasible as an initial target, around the 200-day EMA. But as you’ll see in the next post, a bigger bullish reversal could be unfolding on the weekly chart.
WTI Crude wedging into the buy zone?Since September 2023 the price of WTI crude futures has been painting almost a textbook wedge into the 68/69 support zone. Aggressive traders might find the current price to be a good buy point, depending on their drawdown tolerance.
Oil possible bottom/accumulation Oil has been chopping around the 67-73 area for about a month now and has not created any lower lows after last lower high. Clearly holding up very well and broke the multi month down trend line of resistance and is currently finding/bouncing off it as support. Ideally would like to see the trend line hold and not breach below. A hold of 72 would be very bullish but Oil is known to be very choppy and it is possible it could see 67-70 again before breaking out, however if this does happen it should be very short lived or it could lead to much lower levels. I am currently long with a stop at 70.
Crude Oil will meet us at 78$ in coming daysBias Bullish if break above 73.30 and stay 1-3 Hrs.' above mentioned trigger line then we can easily meet with prices at 78$ in coming days.
1.Symmetrical Triangle which is price continuation pattern.
2. Upper trend breakout will heat up bulls.
3. Most influential trigger line will be break in daily time frame at 73.30$.
4. Inventories short fall.
5. Seasonal in line of Crude.
WTI Crude oil - last update Our overview: Negative EIA data, worse then the previous API release, push the price back to retest the support @$71.00. Trends analysis: Primary(purple): upward corrective structure wave C, intermediate(green): upward impulsive structure wave 3, minor(yellow): upward impulsive structure wave 3.
Our current strategy: Moderately Long looking to follow the trend's wave with first target in area @$74.00(top of the actual trading range). Our current position's risk profile @$71.25: delta +0.25, gamma +0.23 Hedging point: on breakout $71.00
OIL in limbo, can go either way, waitingWe've called oil pretty decently before but a lil tough at the moment
Daily
#OIL has been in a bad downtrend.
Currently it is forming a symmetrical triangle.
Weekly
Oil is trading below its moving avgs.
Volume is lessening.
This is a hard commodity to call at times.
Anything can happen, war, cuts, etc...
My view on CRUDEOILCRUDEOIL FORMING
CUP & HANDLE PATTERN
ABOVE 6050
LOOKING TGT 6110-6150-6200++
keeping on radar Crudeoil 6000 CE
Crudeoil LevelCrudeoil Level
Pink Level is Major S/R
yellow Level is miner S/R
pls find bullish or bearish patterns on level
I am not SEBI register Advisor and I am not any trade and tips recommend here, This Idea post on this Channel Only for educational knowledge & learning purpose, I am not provide any trading tips, Before any Trade Advice your Financial Advisor, I am not responsible any profit and loss
WTI Crude oil - last update Our overview: Conflicting API data once again suggests caution. Big draw in crude counter with big build in gasoline and distillates. Trends analysis: Primary(purple): upward corrective structure wave C, intermediate(green): upward impulsive structure wave 3, minor(yellow): upward impulsive structure wave 2.
Our current strategy: Still moderately Long looking to follow the trend's wave with first target @$74.00. Our current position's risk profile @$71.50: delta +0.20, gamma +0.21 Hedging point: on breakout $71.30
Light Crude Oil... BULLISHThis is a longer term view. It may take a couple of weeks to play out.
The Breaker Block + FVG pose a strong bullish indication that price
may head higher.
The BB represents the turning point in the trend, from a bearish to potentially
bullish market. Not to mention price is going from an ERL to an IRL, potentially.
Crude OilPair : Crude Oil
Description :
Completed " 12345 " Impulsive Waves and Making its " A - wxy " Corrective Waves. Bearish Channel as an Corrective Pattern in Long Time Frame and Symmetrical Triangle as an Corrective Pattern in Short Time Frame wait for the Breakout and Retest
WTI Crude oil - last update. Our overview: The selloff of the yesterday's session, redraw the intermediate(green) trend's structure with a deep wave 2. Trends analysis: Primary(purple): upward corrective structure wave C, intermediate(green): upward impulsive structure wave 3, minor(yellow): upward impulsive structure wave 1.
Our current strategy: The breakout of $72.50 in the yesterday's session trigger the hedging point in our system, then we took profit and resetting our position's delta to moderately long
close to the yesterday's session low at $70.55. Our current position's risk profile @$70.70:
Delta +0.35, gamma +0.22
Hedging point: on breakout $70.50
Moderately Long looking to follow the trend's wave with first target @$72.50.
[Positional] Crude Oil Buy IdeaNote -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
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Oil Is going down Test
come back in a week
"we've been slammed"
"Thank you for your patienc and supports
Kind Regards !
Keep an Eye on Crude Oil $CL_F looks like - to me - there is another leg down in store that will bring it down to the mid to high 50s range
My gas tank and wallet would surely love this to pan out lol
Plus, we should see some action here this election cycle IMO
I review of multiple markets1.8.24 On this video I did a quick review of the dollar, Oil, gold, The Russell, the es which I would not trade right now. This is more about looking at gaps and support resistance areas... for Scalp Trades.
