OIL_CRUDE trade ideas
WTI Oil H4 | Falling towards an overlap supportWTI oil (USOIL) is falling towards an overlap support and could potentially bounce off this level to climb higher.
Buy entry is at 72.65 which is an overlap support that aligns with the 38.2% Fibonacci retracement level.
Stop loss is at 71.20 which is a level that lies underneath a pullback support.
Take profit is at 74.85 which is a multi-swing-high resistance.
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USOIL Potential UpsidesHey traders, in today's trading session we are monitoring USOIL for a buying opportunity around 72.20 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 72.20 support and resistance area.
Trade safe, Joe.
Analysis of USOIL and Falling Wedge Breakout PotentialThe forex pair USOIL is currently priced at 75.000, with a target price set at 103. This indicates an expectation of significant upward movement. The technical pattern in focus is the Falling Wedge, a bullish reversal pattern often found in downtrends. In this setup, the price consolidates between converging trendlines, suggesting decreasing momentum in the downward movement. A breakout above the resistance line typically signals a trend reversal.
Traders anticipate a breakout in this case, leading to a potential rally towards the target. This scenario implies increased buying pressure and positive market sentiment. Risk management is crucial, as breakouts can sometimes fail. Confirmation of the breakout, such as strong volume or a clear candle close above resistance, adds reliability to the trade setup. Monitoring key levels closely will help refine the strategy.
USOIL BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
We are going short on the USOIL with the target of 71.93 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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oil updateI told you about the oil update on Friday a few days ago
And until now there is still respect for my chart
Are you satisfied with this analysis and respect for the numbers I wrote for you!
Now the price of oil has exceeded 74 now
Now you should watch this chart
Don't forget to follow me and support me
USOIL Potential UpsidesHey Traders, in today's trading session we are monitoring USOIL for a buying opportunity around 73.60 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 73.60 support and resistance area.
Trade safe, Joe.
2025.01.07 USOIL is correcting down to support zoneHello traders:
Last Friday's Alert:
On the daily chart, oil closed bearish on Monday, forming a reversal and retracement signal for the daily trend.
Therefore, using support structure levels, the short-term retracement targets are:
TP1: 71.80
TP2: 70.50
GOOD LUCK!
LESS IS MORE!
USOIL Will Fall! Short!
Please, check our technical outlook for USOIL.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 74.10.
Taking into consideration the structure & trend analysis, I believe that the market will reach 72.60 level soon.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
Like and subscribe and comment my ideas if you enjoy them!
Waiting for Clarity: Insights on Oil and the 70 Put OptionsLet’s talk about WTI oil for a moment.
In the upcoming monthly expiration series set for January 15, there’s some interesting action happening with the 70 put options. Traders aren’t just dumping these puts; they’re actively reselling them, and there are definitely buyers stepping in. What’s even more intriguing is that the same 70 puts are being picked up in the next options series as well.
Now, if you look at the charts, it seems like prices have finally broken out of that range they’ve been stuck in for a while and are gearing up to move higher.
With this kind of sentiment in play, I’m going to hold off on making any buys for now and wait for some clearer signals before jumping in.
WTI reaches key resistance zoneCrude oil prices have been stealthily rising over the past couple of weeks, but now is the real test as prices have reached some important resistance levels.
As per the chart, WTI faces a band of resistance from its bearish trend line, 200-day moving average, and prior support and resistance, all converging around the psychologically important $75.00 level.
Specifically, the resistance range comes in between $74.55 to $77.50. Yesterday's bearish price candle was the first sign of a potential reversal, although we haven't yet seen any downside follow-through.
Support comes in around $71.50, the base of the recent breakout. Below that, $70.00 is the next downside target, followed by the recent lows.
By Fawad Razaqzada, market analyst at FOREX.com
CRUDE OIL TO HIT $160?! (UPDATE):It's been a few months since I've done an update on my Crude Oil analysis, as Oil prices have been stagnant & consolidating. But in the past week & a half we've seen a huge push to the upside, with Oil now sitting at a 3 month high!
Currently up 700 PIPS (10.40%) in profit from our support zone. Long term I still remain bullish from a technical standpoint. Also, we already know from a fundamental standpoint, the puppet Donald Trump will be used to worsen geopolitical situations globally, weather that's in the Middle East or with China & Russia.
USOIL TF 2H 7125wait till price come into the zone and break out with big green/red candles
entry (TF 2h,4h)
SL at previous low/high
TP at Fibonacci
USOIL Take it as it isI don't think TVC:USOIL will surpass the purple box anymore for the forseeable future.
Mostly (as a worst case scenario) I see it maybe touching the upper limit but nothing more.
TPs are well marked on the chart. Hopefully I will nail it down more or less with the timeframe aswell.
Fundamentals are clear as daylight too.
OIL bearish bias down to $72.50The price currently trades around $73.37 and appears to be in a retracement phase after a significant sell-off. The overall structure suggests the market may continue to test lower levels with a clear rejection from the recent highs near $75.00, followed by a steady move downward.
Resistance: $74.00, where a rejection occurred
Support: $72.50, which aligns with a previous structure low
Let me know if you agree with my idea ?
Moustafa! WTI Crude Oil to surge up still to the upside 21.01.25* Broke the weekly and the daily descending line and made already the pullback and intends currently to settle on and bounce from to the upside towards the mentioned TPs
* You can enter from the current level at 76,480 or you could wait till 75,059 so you can decide according the price action you follow.
Note:
My ideas are exclusive to myself only and is not regarded as an advice for traders or investors and are not more than personal thoughts which I just wanted to share with you all and I do hope they could help.
I am not selling any signals and I do not take money favour any trades recommendations. They are free of charge all lifelong but I keep the copy rights of them though to not be copied or shared or sold.
Hellena | Oil (4H): LONG to area of 82.000 (Wave "5"). Colleagues, all trading instruments are behaving extremely unpredictably right now due to the situation with Trump's inauguration among other things.
I see this as an opportunity to redraw the waves.
Apparently now the price is developing wave “4” and will finish it soon. I expect the price to reach the area of 82.000, renewing the high of wave “3”.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Us Oi moveUS oil is bullish untill not break the trendline, It's is taking support of trendline on daily timeframe, if it breaks the Trend line then another trendline will be support. Here are the levels as per price action.
Note: I am not SEBI REGISTERED analist, this is my personal view only for education purpose.
US WTI Crude and a triangle patternCrude is following a triangle pattern in the weekly time frame, retraced back in the monthly inside bar level, got the resistance from the higher tl in 1H tf, a HH pattern, also broken the lower HH tl, now trying to take support at a different angled tl, within the 1H inside bar ,also giving the 12M and monthly levels for the crude
will add all the important patterns followed by crude as and when required in different tfs
WTI CRUDE OIL This pull back is the best buy opportunityWTI Crude Oil is on the pull back after a Resistance Zone (1) rejection.
The Rising Support trend line is parallel to the MA50 (1d) and a 0.5 Fibonacci test would be the most effective buy entry.
So far this resembles the January 29th 2024 rejection.
Trading Plan:
1. Buy on the 0.5 Fib.
Targets:
1. 86.50 (Resistance Zone 2).
Tips:
1. The RSI (1d) also shows similarities with the Jan 29th 2024 rejection, supporting our expectation of a MA50 (1d) bounce.
Please like, follow and comment!!
USOIL Trade LogUSOIL Short Trade Setup 🚨
- Instrument: West Texas Oil (USOIL)
- Timeframe: 1-Hour
- Risk: Between 1% and 2%
- Risk-Reward Ratio: 1:2 minimum
Key Technical Analysis:
1. Price has formed a clear reversal structure accompanied by a rejection off the monthly Kijun level .
2. A 1-hour Fair Value Gap (FVG) provides a potential entry point with a confluence of the Kijun 1H level.
3. The setup is in alignment with a broader bearish sentiment due to macroeconomic influences.
Fundamental Confluence:
- Recent announcements signal a ceasefire in the Middle East , reducing geopolitical oil supply risks.
- Trump's statement regarding plans to increase oil drilling has heightened expectations of increased supply, potentially pressuring prices downward.
Trade Plan:
- Entry: Within the 1H FVG zone upon bearish confirmation.
- Stop Loss: Above the 1H FVG's upper boundary.
- Take Profit: At least twice the stop-loss distance for a 1:2 RRR.
Risk Management:
Ensure strict adherence to the 1%-2% risk allocation. Always consider market volatility before executing trades.
This setup offers a balanced technical and fundamental perspective. Keep in mind, the market can always surprise you. Stay disciplined!
Oil short I have been trying to fade oil for a month. Took another shot at it. After taking out Aug 24 high, oil sold off just before Trumps inauguration. This is a trade i would like to hold on to. My stops are already at BE as anything could happen.
USOIL, DailyUSOIL, daily
Oil prices fell as speculation about Trump relaxing energy restrains on Russia offset concerns of supply disruptions from the sanctions. The new US sanctions could impact nearly 1 million barrels per day of oil from Russia, but Trump's potential action may determine the duration of recent price gains. Also an easing of tensions in the Middle East where Hamas and Israel exchanged hostages on Sunday kept oil prices for further progressing as well as the potential impact of a cold snap of the weather in Texas and New Mexico could affect oil production which is an additional factor influencing the oil market.
On the technical side, the price had a rather aggressive bullish boost in the past couple of weeks and has recently corrected to the downside after finding sufficient resistance on the upper band of the Bollinger bands. The level of the 61.8% of the weekly Fibonacci retracement is what is supporting the price at the time of this report being written however the 50-day moving average has crossed above the 100-day possibly pointing at the retest of the the latest high around $79 or even $80. On the other hand, the Stochastic oscillator is already in extremely overbought levels hinting that the $80 mark might not be strong enough to hold the price that high and could potentially test again the 61.8% of the Fibonacci retracement level in the medium-term outlook.
