USOIL: A bunch of Fib retracements + previous structureI think the title and chart says it all.
Short entry at 72.3
Target 68.4
OILUSD trade ideas
USOIL - Near his resistance? Holds or not??#USOIL... market retest his monthly resistance in yesterday and closed below that.
And the ressistance was 72.35 around.
Keep close that area because if market hold it then drop expected below that.
Good luck
Trade wisely
USOIL / TRADNING ABOVE SUPPORT LEVEL AT 67.19 - 4H USOIL / 4H TIME FRAME
HELLO TRADERS
Price Decline of 7.16%: The analysis suggests that there has already been a price drop of 7.16%. This could be the starting point for further analysis or an event that has already occurred.
Breaking and Stabilizing Below 67.19: The level 67.19 seems to be a significant support or resistance point. If prices break below 67.19 and stabilize, it indicates a bearish trend. This might suggest that further declines are likely.
Further Decline of 9.71%: Should the price fall and stabilize below 67.19, the analysis anticipates an additional 9.71% decline.
Current Trading Above 67.19: Presently, prices are still above the 67.19 level, signaling that the market has not yet broken this key point.
Expected Increase of 10.36% : The text predicts an upward movement of 10.36%, potentially implying bullish momentum if the price continues to hold above 67.19.
Possibility of Further Increase: There’s a suggestion that the price could rise even more beyond the 10.36% increase if current trends hold.
Technical Analysis:
Current Market Condition:
The asset is under bullish pressure , As long as the price remains above 67.19, the bullish momentum is expected to continue.
Upward Condition:
- Target 1: If the price trades above 67.19, it's expected to rise to 71.51.
- Target 2: If the price stabilizes above 71.51, the next target is 72.16.
Downward Condition:
- If the price falls below 67.19 , it suggests a potential decline:
- Target 1: A decline to 65.34.
- Target 2: If it breaks below 65.34, further decline is expected to 63.93.
Oil Short Term Sell IdeaH1 - Strong bearish momentum
Lower lows
Until the strong resistance zone holds I expect the price to move lower further after pullbacks.
CRUDE OIL longthe price of Oil just reached a weekly demand level and formed a bullish weekly candle which means from my trading analysis perspective the Oil has to breath and hit the 74.10 , m expecting the next days to be bullish on Oil , keep ur eyes on it
WTI Oil H1 | Downward momentumWTI oil (USOIL) is rising towards a pullback resistance and could potentially reverse off this level to drop lower.
Sell entry is at 68.70 which is a pullback resistance.
Stop loss is at 70.10 which is a level that sits above the 50.0% Fibonacci retracement level and an overlap resistance.
Take profit is at 66.21 which is a swing-low support.
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Rejected Day Resistance Sell 4H below 200maRejected Day/week Resistance Sell 4H below 200ma 1.5 Ratio
Usoil to head higher...Oil has price has been selling lower until a month supply zone was mitigated. Ever since oil has been bullish, yesterday oil price started to head lower. This low move is expected to test the previous low. If price fail the low, buy order are expected to be at 65.71 to 65.45. This to target the newly created high.
USOIL WTI Technical Analysis and Trade Idea👀 👉 USOIL WTI recently broke structure to the down side, as seen on the 4H timeframe. In this video, we closely examine USOil, discussing the trend, market structure, and price action. We also explore a potential trade setup.
**Disclaimer:** Forex trading involves significant risk, and market conditions can change quickly. The information provided is for educational purposes only and should not be considered financial advice. 📉✅
Short TradeWhat we have here is a rising channel pattern, we have had a breakout and retest, this is the perfect condition to go short
WE ONLY TRADE PULLBACKS
OIL Long - Up & DownMajority is still long however turning slowly into bull mode. We peaked some liquidity spot on the past so I expect some movement up before further declining.
USOIL may fall below 64.7On the daily chart, USOIL is currently running below the downward trend line, and the bearish trend is obvious. At present, attention can be paid to the resistance near 69.3. If the rebound is blocked, short selling can be considered. Pay attention to the area near 64.7 below. If it falls below, it is expected to open up downward space.
WTI Crude Oil 4H Long – Targeting 0.5-0.7 Fibonacci LevelsWe’re seeing a breakout on the 4-hour chart for WTI Crude Oil, presenting a potential long trade setup. The price is targeting the 0.5 to 0.7 Fibonacci retracement levels. However, we may experience a retest of the breakout level before the trade fully reverses and moves towards the targets.
Technical Analysis:
• Breakout Confirmation: The recent price action has broken through resistance, indicating a potential shift to bullish momentum.
• Fibonacci Levels: The 0.5 to 0.7 Fibonacci levels are key areas of interest, aligning with possible resistance where the price might stall or reverse.
• Retest Potential: There’s a possibility that the price could retest the breakout zone before resuming its upward movement, which is a common pattern following breakouts.
Trade Setup:
• Entry: Consider entering a long position either at the current level or on a potential retest of the breakout zone.
• Target: The primary targets are the 0.5 to 0.7 Fibonacci levels, which represent areas where we may see the price consolidate or reverse.
• Stop-Loss: Place the stop-loss below the recent low to protect against a false breakout. Since this is a swing trade on a 4-hour chart, be prepared for the trade to develop over a few days, potentially extending into weeks.
Risk Management:
• Position Sizing: Adjust your position size to account for the potential duration of this swing trade, ensuring that you’re comfortable with the longer timeframe and any market fluctuations that may occur.
• Trailing Stop: If the trade moves in your favor, consider using a trailing stop to lock in profits while allowing the trade to continue running towards the target levels.
Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
Oil Is On A SLIPPERY Slope!You get it, because oil is slippy and price is going down? Just ignore my terrible dad jokes.
$63.50 is an area i can see price pushing down to, we have had the classic break and retest of a key area already ($72) In August of this year price used this level as strong support pushing up $10 and $7 dollars respectively before breaking through! Again it made a $7 move once it broke below the $72 level before coming back up to retest this broken support as resistance yesterday.
We have already had a nice little push down today and over the next few weeks we will see this continue down to our $63.50 level. Why is this level significant? Because if you go onto the monthly chart you will see this level has been very well respected both as support and resistance historically.
$72 would obviously have been the perfect time to enter but unless you have a time machine you wont see this post till today, so now is still a good entry point as long as you are not over risking to allow for a little correction.
Important update WTI. H4 26.09.2024WTI Important update
Past WTI oil buys didn't manage to get fully developed and the overall correction ended near the nearest resistance at 72.00. On the downside, large volume was poured at 69.65 and eventually gave a push to the downside, thus forming a sellers zone. I believe the overall upward correction is over and will break the lower boundary with downside potential to 64.50 to the block option spread. Then we will watch the culmination below if given, but for now selling is the priority.
BLACKBULL:WTI
USOIL SENDS CLEAR BULLISH SIGNALS|LONG
Hello, Friends!
Bullish trend on USOIL, defined by the green colour of the last week candle combined with the fact the pair is oversold based on the BB lower band proximity, makes me expect a bullish rebound from the support line below and a retest of the local target above at 71.55.
✅LIKE AND COMMENT MY IDEAS✅
WTI Price Outlook: Key FactorsThe price of WTI is hovering around $69.60 per barrel, remaining at relatively low levels compared to recent peaks. However, several signals suggest a potential reversal towards an upward trajectory. The reduction in U.S. crude oil inventories, reported by the EIA, was significantly larger than expected, with a drop of 4.471 million barrels compared to the forecasted 1.2 million. This signal of shrinking supply could exert upward pressure on crude oil prices.
On the other hand, the effectiveness of recent economic stimulus measures adopted by China, the world's largest oil importer, remains uncertain. If these measures fail to stimulate demand, crude prices could face downward pressure. Additionally, rising tensions in the Middle East, particularly after an Israeli airstrike that killed a Hezbollah commander, increase the risk of a potential supply disruption from the region.
From a technical standpoint, WTI is currently in a consolidation phase. If prices manage to break through the key resistance level around $70-72 per barrel, a bullish breakout could occur, supported by increased trading volumes.
US Oil Trade IdeaThis is a place where you can identify the possible movement in mentioned session. Entry activated only when a candle closes above or below the drawn level, And the next candle creates a wick down(for up movement) or up(for down movement) and breaks the candle high or low.
When entry is activated SL will be below or above the 30 minute candle.
USOIL - Short Trade Idea (26th Sept 2024)This is my analysis on USOIL.
So, what my eye catches is the ascending sellside trendline liquidity being build up. We have a recent touch on it, retracing into a weekly SIBI. Based on this, I am anticipating us trade quickly down into a monthly BISI as my initial target.
The stoploss I set is based on the current swing high. A wider stoploss could be adopted to weather any sort of wick damage happening during high impact news.
Let's see how this plays out.
- R2F
WTI Oil .. Is $86 in the Future ??Possibly as we have two potential bullish patterns in play
1. A Bullish Butterfly pattern with targets of $78 and $86.
2. A Bullish Wolfe Wave with an $80 and $86 target
So how do we play this ??
I think we will have a chance for WTI to fall to a lower price, as the US election and economic uncertainty may push WTI's price lower. On the other side middle east tensions could escalate.
That said the $69-70 area would be decent purchase... better still at $66-67, as this has previously been a demand zone.
Momentum also looks positive and exhibits some divergence.
So If it happens then it happens.
I will watch and report back.
Not investment advice. Do your own due diligence
S.
WTI CRUDE OIL has bottomed. Buy.WTI Crude Oil has rebounded initially on Support A, a level that is holding since March 20th 2023.
At the same time the 1day RSI double bottomed the same way it did in December 2023 and May 2023.
This is a clear buy signal that is targeting the 1day MA200 and the Falling Resistance at 78.00.
Follow us, like the idea and leave a comment below!!
Oil looking to retest lowsThe vast majority are talking inflation 24/7, but we very likely could be going into deflation for the next year or 2. China is already suffering from deflation and they are at over capacity and need to dump goods. A slowing China is deflationary for the world. In the US, job losses accelerating, and the number of layoffs companies are announcing is huge. These numbers will eventually show up in the economic data. Add demographics and record consumer debt and I doubt we will see anymore inflation (which was mostly do to energy prices and shortages FYI) for awhile. It will not be until rates drop in the next year and a huge economic recovery package is out in the economy will we see the inflation begin again.
WTI Long High riskOil Trade Setup
FPMARKETS:WTI
I've decided to go long just before the news release, as I noticed the liquidity sweep had already occurred. However, I'm cautious about this trade, as the bullish probabilities are mixed, and there are stronger bearish arguments.
Trade Management:
Stop Loss: Placed just below the liquidity sweep, as breaking this level would suggest further downside.
Take Profit: Partial exits planned. First target at $72.38, with the remaining at the next level of buy-side liquidity.
Risk/Reward: 4.85
Risk: 1%
