CRUDE OIL "3 Heads Monster"Could this 3 Heads & Shoulders come to live ?
Built in "Close Price Line Chart" (Candle = Same formation)
Small (black) H&S Target @ 59.34
Medium (orange) H&S Target @ 44.32
Large (blue) H&S Target @ 10.29
CLZ2022 trade ideas
Crude Oil Smoked Again. Will the downtrend continue?Hey, guys. Noticed this evening Crude Oil is down yet again. In this video, taking a look at the technicals and whether this downtrend will continue or not. Oil is in a little bit of a confusing spot, but there is certainly good reason to think the weakness will continue. Hope this video will give you a closer look at the Oil chart and provide helpful information as you develop your thesis around this asset. Will the downtrend continue? Will we get a counter trend move? It will be interesting to watch this develop to be sure! NYMEX:CL1!
Hope you enjoy the video, and best of luck out there!
Falling wedge Breakout in CRUDE?Crudeoil Update (4-Hour Timeframe)
Pattern Formation: Falling Wedge, typically suggesting a potential breakout to the upside.
Current Setup: Crudeoil has taken support at the 5900 level and is now trending upward within the wedge.
Entry Above: 6025
Target 1: 6100
Target 2: 6220
Target 3: 6380
Stop-Loss: 5970
Analysis: Price has shown resilience at support, and a breakout could be triggered above 6025. Watching closely for an upward move.
Risk Management: Ensure proper stop-loss placement to guard against reversals.
Disclaimer: This is a technical analysis based on current data, not financial advice. Always trade with caution.
Bullish Crude Oil Trade IdeaLooking for crude oil to trend higher as supply stays tight and demand remains steady. Targeting a move up to key resistance, with stops below recent support to manage risk
MCL Long 10/30/2024MCL is in a SW + uptrend because price closed above 4hr MA. Taking a long position in DZ below MA. Taking half risk because zone has been tested. Chances of less unfilled orders. We have 2 zones overlapping. I chose the lower one because of SW trend. Risk= $90. Target= 1:1 and 3:1.
Bullish Crude Oil Futures Trade Idea:Crude oil futures are set up for potential bullish movement as inventory levels remain low, and recent economic data supports ongoing demand. Supply-side factors, such as lower-than-expected inventories and potential OPEC+ production cuts, add upward pressure. I’m looking for a push into higher resistance levels as bullish momentum builds.
CL longI see a possible long so taking it. h&n after sweeping NY pm session low. Am assuming 80% chance to hit target. Don't take this trade I am testing theory lol
Oil looking for 71.86$oil now above demand zone (67.19 -68.38) and there is Bullish Divergence if it's still above these levels and if price action appears it will be good long trade to reach 71.86 / 77.74 / 80.18 / 84.48 / 87.59.
Good Luck
WEEKLY FORECAST OCT 26th: SELL US & UK CRUDE OIL In this video, we will analyze the CRUDE OIL markets in the US and UK, looking through the lens of ICT Concepts.
Price has traded up into a bearish FVG, so therefore I am BEARISH. Price can turn neutral in this geopolitical environment, but maybe the inside bar will act as a harbinger of bearish things to come.
Check the comments section below for updates regarding this analysis throughout the week.
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Crude oil falls as geopolitical fears move to the back burner Crude Oil closed lower overnight at $67.38 (-6.17%), erasing all and more of the previous week's rally following Israel's restrained weekend response to Iran's October 1st attack.
With geopolitical concerns on the back burner for now, this week's data-rich US calendar will provide more insights into the demand outlook for crude oil ahead of next week's US election and China's NPC standing committee expected to reveal the details of the country's fiscal stimulus package.
Technically, providing crude oil remains below the $71.50/72.50 resistance area, the risks remain to the downside, including a retest and break of the September $65.27 low.
US OilPair : Crude Oil - US OIL
Description :
Completed " 12345 " Impulsive Waves
Bearish Channel as an Corrective Pattern in Short Time Frame
Break of Structure
RSI - Divergence
Demand Zone
oil longsideally we low of day so far at 67.79, we dont have to but gives me more confidence in thesis, take out of Asia SSL create a higher low and make way towards gap fill with London SSL, Ny Lunch SSL and PM SSL, AM BSL to be taken out for the gap to be filled.
CL!10/27 - 11/01
-Looking for good pull back in oil to go long.
-Daily closed with bullish ENFG to previous day
-4H is showing bullish structure
-1H is showing some CONSD. with new support around 71.5
-30 min is in line with the higher T.F SO A GOOD PULL BACK into previous structures/imb Iwill entertain BUYS!
$73 IS A PROFIT TARGET
#202443 - priceactiontds - weekly update - wti crude oilGood Evening and I hope you are well.
tl;dr
wti crude oil: Dead zone 70 - 72. Best not to trade it and wait for the breakout. I have no opinion on who wins it. For me to believe the bullish breakout to be good, I need to see follow through selling above 73, otherwise it could still be just a retest of the previous support.
Quote from last week:
comment: Bulls started ok on Monday and the close was neutral but Tuesday really killed every last bull who bought above 71 and hoped for a second leg up above 75. Market has now left a giant bearish island reversal between 71 and 72.5 and that is as bearish as it gets. Bulls last hope now is to hold above the bull trend line at 68.
comment: Bulls actually managed to hold it above 68 and the trend line but failed to close the bear gap completely. This leaves us in nowhere land between 70-72 and a proper triangle. Play that until it’s clearly broken. No more deeper analysis needed.
current market cycle: trading range (triangle on the weekly tf)
key levels: 63 - 78
bull case: Bulls need a daily close above 72.7 for a chance of retesting north of 75. Below 68 things get really spicy.
Invalidation is below 68.
bear case: Bears need a daily close below the bull trend lines (also head & shoulders neckline) for lower prices. First would be below 69 and second is below 68. If they manage that, market is free to test down to 66 and then 64. If the neckline breaks, measured move would be 59ish but that is very far fetched.
Invalidation is above 72.7.
outlook last week:
short term : Neutral 68-70 but leaning bearish near 71. Not the best spot to trade currently.
→ Last Sunday we traded 68.69 and now we are at 71.78. Decent outlook.
short term: Neutral 68-70 but leaning bearish near 71. Not the best spot to trade currently.
medium-long term - Update from 2024-10-20 : No idea where this wants to go in the remaining 2 months of this year so I am neutral until we have a better pattern. The big triangle on the weekly chart is alive and until that changes, no more updates.
current swing trade: None
chart update: Adjusted bear gap
Crude Oil Short Term Possible Uptrend The price of crude oil has shown indications of a potential short-term rise. However, current analysis suggests that the overall trend remains bearish, indicating potential downward pressure in the longer term.
This is not a financial advice.
Bearish Crude Oil Intraday Trade Ideaongoing concerns about demand, alongside mixed global economic data, may weigh on oil prices in the short term. I'm anticipating a move lower, targeting key intraday support levels. Stops will be placed above recent highs to manage risk, while looking for continued bearish momentum as the market corrects from overextended levels
Light CL1! short Light CL1! enters strong bearish area on daily TF.
It is reasonable to follow after best entrence point with small stop and good R:R.
Will be updated later.
Review of yesterday's post10.22.24 This is a review as it pertains to yesterday's post. I would focus on how I would consider taking trades and managing trades if I already am in the market... as well as missing trades and looking for a second chance. it's very hard to have flexibility in your trade decisions if you can only think like a buyer or a seller.....markets usually give you a second chance if you missed the first chance.
Short Crudeoil sold@5900
sl 5958
tgt 5809
This is for educational purpose only. I'm not a SEBI registered analyst.
Short Scalp TradeI entered late on this but before this post. CBA to right a full description for this so lets just see if target hits
MCL Long 11/3/2024MCL is in an uptrend in 4hr chart. Placed a long position in 1hr HV DZ below MA. Taking half risk because daily and 4hr trends don't match. Also, the zone has been tested. Risk= $120. Target= 1:1 and 3:1.
#202444 - priceactiontds - weekly update - wti crude oil futuresGood Evening and I hope you are well.
tl;dr
wti crude oil: Neutral between 68 - 72. Market is in balance inside this range and for now no side has clearly better arguments for a bigger impulse. Market formed another nested triangle inside the big one. Which means buyers and sellers are in balance.
Quote from last week:
comment: Bulls actually managed to hold it above 68 and the trend line but failed to close the bear gap completely. This leaves us in nowhere land between 70-72 and a proper triangle. Play that until it’s clearly broken. No more deeper analysis needed.
comment : The trading range expanded some but not much. On the weekly chart the September and October lows do seem to be respected and holding but since bulls fail to trade above 72.33, we are forming more nested triangles inside the big one on the monthly chart. For now the range is 65 - 72.33 until broken.
current market cycle: trading range (nested triangles on multiple tf)
key levels : 65 - 72.33
bull case: Bulls need a daily close above 72.7 for a chance of retesting north of 75. Again. There is a very good chance last weeks low 66.72 can hold for now. Bulls made 3 higher highs the past 3 trading days but look at the bars. They scream weakness and the close below 70 was bearish as well. Bulls do not have many arguments here.
Invalidation is below 65.
bear case: Bears keeping this below 70 is much stronger than I expected this for the past 3 weeks. As long as they are not letting the bulls get consecutive bull bars above the daily 20ema, the bears remain in control. Yet I do think sideways is more likely than a break below 65. Last weeks price action was disappointing for both sides, which is why I continue to be neutral on this.
Invalidation is above 72.3.
outlook last week:
short term: Neutral 68-70 but leaning bearish near 71. Not the best spot to trade currently.
→ Last Sunday we traded 71.78 and now we are at 69.49. Good outlook.
short term: Neutral again. Clear range and bearish pattern with limited downside. Scalp and don’t overstay your welcome in positions.
medium-long term - Update from 2024-10-20: No idea where this wants to go in the remaining 2 months of this year so I am neutral until we have a better pattern. The big triangle on the weekly chart is alive and until that changes, no more updates.
current swing trade: None
chart update: Nothing
