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OXY trade ideas

Occidental Staggers Before Big EventsOccidental Petroleum has been rangebound for more than two years, and some traders may worry about potential downside with some big events looming. The first pattern on today’s chart is the price action after the April 12-June 4 slide. OXY retraced half the decline before rolling over, which may suggest its trend is now lower. The recent drop below $61 could also be interpreted as a bear-flag breakdown. Next, the 50-day simple moving average (SMA) is in the process of forming a potential “death cross” below the 200-day SMA. Third, the oil stock tried to clear last year’s high above $69 in April but couldn’t hold. That kind of false breakout is a potentially bearish reversal pattern. Finally, at least two big events could impact trading. On Thursday, OPEC+ is expected to let production increase as previously announced. Quarterly results follow on August 7. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
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by TradeStation
Occidental Petroleum Corp | Range Idea | Pre-MarketWithin a 100K Account Balance the split on Trade & Risk Management = 1/10% - 1/20% margin as an Execution Range, to set up an Order Entry and select a per Trade on Average, to avoid any drawdown hit regarding to Stop Loss & to execute Risk on Management Specifics. Trail Stop efforts are a Focus of Attention to the set up in general when Volatile-Price-Action is involved, mainly because of the usage of an Intraday-Scalp-Position tool on behalf on the Trade Plan in general # POSITION & Risk Reward | 15 Minutes Time Frame - Measurement on Session * Retracement | 0.5 & 0.618 * Extension | 0.88 & 1 # POSITION & Risk Reward | 1 Hour Time Frame - Measurement on Session * 20 EMA * 1000 EMA * Retracement # TREND | TIME FRAME CONDUCTIVE | 4 Hour Time Frame - Support & Resistance area 1 - Support & Resistance area 2 - Support & Resistance area 3 - Subdivision & General Trend - Measurement on Session * Retracement * Support & Resistance * Trade Area | Focus & Motion ahead Active Sessions on Relevant Range & Elemented Probabilities; * Asian(Ranging) - London(Upwards) - NYC(Downwards) * Weekend Crypto Session
CAPITALCOM:OXYLong
by UnknownUnicorn36087477
Oxy update, and my most profitable strategy discussedHere is an update on the OXY chart after oil had its pivot in April. Oxy was my best trade of the year dollar amount wise and I am 6/6 the last 1.5 years on these longer dated call strategies. I like to trade wedges or bull flags on value stocks and or GLD and similar ETFs. This wedge breakout like many I have posted before is my most favored setup, I am currently doing this with CLSK. 1. You layer into a long on a demand zone as the contraction nears its end. 2. You enter on a bottoming stochastic RSI, here I added to the position after the initial bump 3. A new entry zone is noted on a potential breakout on crude oil futures 4. The stock bounced on the 100 EMA, I plan to layer in next week 5. My preferred entry is 4-6 months out likely a 65-70$ strike on calls
NLong
by Apollo_21mil
2
Mean Reversion First then Go LongOXY is very extended relative to its moving average ribbon. But the breakout looks promising for a long. Look for consolidation for a few days or a pull back to its 13 EMA to enter long on the the multi year breakout. I traded the fake breakdown on a recession signal a few months ago and now its time to trade the possible breakout on more inflation! To be clear if the pull back doesn't happen I wont chase. Let it reload first. If not There are lots of other tickers out there.
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by retailmonkeybrainz
4