USOIL-longI am not super confident about this position, but opened it anyways. Probably a jump to $74.50 may be possible. TP-1 can be a safer grab though.
USDWTI trade ideas
USOIL Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance )
Risk Disclaimer:
Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
SELL ON USOIL As usual here is our trade for today on CRUDEOIL/CL/USOIL, you can enter by setting the same SL and TP as mine!
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Us oil for buy.Price hits a weekly support zone, price bounced 3 times which signals a possible trend change. Wait for a break of the bearish trendline to the upside and a retest. Then long.
Falling towards pullback support?USO/USD is falling towards the support level which is a pullback support that is slightly above the 61.8% Fibonacci projection and could bounce from this level to our take profit.
Entry: 67.64
Why we like it:
There is a pullback support level that is slightly above the 61.8% Fibonacci projection.
Stop loss: 65.84
Why we like it:
There is a pullback support level that is slightly above the 127.2% Fibonacci extension.
Take profit: 69.05
Why we like it:
There is an overlap resistance level.
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Oil on Demand Mode Keep on eye H1 candle movement. When It passes Simple Moving Average 200 and then 50 that means the bullish movement kicks off.
USOIL: Move Down Expected! Sell!
Welcome to our daily USOIL prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 6.976.8$
Wish you good luck in trading to you all!
SELL USOILYou can sell CRUDEOIL / USOIL / CL at the same levels I placed on the chart.
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WTI CRUDE OIL: Strong rebound on the 18 month Support.WTI Crude Oil is neutral on its 1D technical outlook (RSI = 53.224, MACD = -0.080, ADX = 22.753) as it rebounded again on the S1 Zone and already reached the 1D MA50. Even though another test of the S1 Zone is possible according to the multiple tests of the May-June 2023 pattern, the upside is more likely to happen eventually through a test of the 1D MA200. Our target is limited however below the LH trendline (TP = 77.50) as we don't yet have valid grounds to extend buying above it.
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CRUDE OIL RISKY SHORT|
✅CRUDE OIL will be retesting a resistance level soon at 72.50$
From where I am expecting a bearish reaction
With the price going down but we need
To wait for a reversal pattern to form
Before entering the trade, so that we
Get a higher success probability of the trade
SHORT🔥
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WTI CRUDE OIL Final Resistance test before $77.50WTI Crude Oil hit today the 7 day Falling Resistance. A break above it will be bullish as that has been the case on 2 similar patterns previously.
We are ahead of a Golden Cross (1h), which on the 2 previous patterns, has confirmed the uptrend.
Trading Plan:
1. Buy if the Falling Resistance breaks.
Targets:
1. 77.50 (Resistance 1).
Tips:
1. The RSI (1h) is printing a pattern similar to the September run.
Please like, follow and comment!!
CRUDE OIL Short D1 (Adjusted)Sell Entry @ 77.29
S/L @ 80.43
T/P1 @ 72.62
T/P2 @ 69.42
R.R.R. @ 1/2.5
Pure Price Action Trading based on Pullback of Key Levels.
CRUDE OIL Bearish Bias! Sell!
Hello,Traders!
CRUDE OIL is already making
A bearish pullback from
The horizontal resistance
Of 72.54$ so we are bearish
Biased locally so we will be
Expecting a further move down
Sell!
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Check out other forecasts below too!
Oil Slips Under $68 with China Economic Action on HoldFxNew s—Crude oil prices dipped after failing to maintain levels above the $72.25 resistance. The downtrend accelerated when prices breached the ascending trendline, further confirmed by RSI 14 divergence.
Currently, oil prices are oversold, suggested by both Stochastic and RSI 14 indicators. It is anticipated that crude oil prices might rebound or stabilize near higher resistance levels.
Technically, immediate resistances are set at $68.3 and the critical $69.7 barrier, supported by the Fair Value Gap. Prices are likely to consolidate around $69.7, providing a low-risk entry point for joining the bear market.
Traders and investors should closely watch these resistance levels for bearish signals, including candlestick patterns.
Article: fxnews.me
WTI , Bounce off From 68 Level !!!Dear Traders,
The price has reached the bottom of the channel and I expect an upward movement to the targets of 74. The stop-loss is set at 67 dollars."
Dont Forget like&Comment please !
Regards,
Alireza!
EDUCATION: Simplified Candlestick Psychology (Part 1)As traders, understanding candlestick patterns is fundamental to decoding market behavior. But beyond the pattern itself, there’s a deeper story being told with every candle. Just like words form a story in a book, the Open, High, Low, and Close (OHLC) of a candlestick reveals the psychological battle between buyers and sellers at a given moment in time. In this video, we’re going to break down how to read candles like a book and uncover the psychology behind each price action move.
The Anatomy of a Candlestick
Before we dive into the psychology of candles, let's refresh on the basic anatomy of a candlestick:
Open (O): The opening price of the candle, where the price starts within the time period.
High (H): The highest price reached during the candle’s time frame.
Low (L): The lowest price reached during the candle’s time frame.
Close (C): The final price when the candle closes at the end of its time frame.
Each candlestick provides valuable information about the price action during that specific time period. But what’s even more important is the psychological narrative it tells.
The Psychology Behind the OHLC
Understanding the psychology behind the Open, High, Low, and Close will give you insight into the market’s behavior and sentiment. Here’s a breakdown of what each component reveals:
The Open (O): The start of the battle. The opening price represents the market's starting point. Buyers and sellers have already made their decisions before the candle even begins, and the open shows where the price begins to unfold. If the open is near the low of the day, it indicates a bearish sentiment, while an open near the high could show bullish strength.
The High (H): The peak of the conflict. The high of the candle represents the furthest point reached by either the bulls or the bears. When the price reaches a new high, it signifies that the buyers are in control and pushing the price up. Conversely, if the high is lower than the previous candle's high, it suggests that sellers are starting to assert their influence.
The Low (L): The valley of indecision. The low of the candle is where the price falls before either the bulls or bears regroup. A low that is lower than the previous low indicates that the sellers are pushing the price downward. A higher low, on the other hand, suggests that the bulls are holding the line and potentially setting up for a rebound.
The Close (C): The conclusion of the battle. The close is the most important price point of the candlestick, as it represents where the battle between buyers and sellers has ended. The relationship between the open and close tells you who won the fight. If the close is higher than the open, buyers have won the battle. If the close is lower than the open, sellers have gained control.
Reading Candles Like a Book
When you look at a candlestick, think of it like reading a short sentence in a book. Each candle tells a small part of the market’s ongoing story, and together they form the narrative of price movement. Here's how to read the story:
Bullish Candles (Close > Open): When a candle closes higher than it opened, it tells the story of a market that was dominated by buyers. The longer the body, the stronger the buying pressure. A large body with a small wick suggests buyers were in full control with little resistance.
Bearish Candles (Close < Open): When the candle closes lower than it opened, it represents a market where sellers took charge. A long red body with little wick indicates a strong bearish move. A bearish candle with long wicks shows that although sellers were in control, there was some pushback.
Doji Candles: A doji occurs when the open and close are almost identical, signaling indecision or equilibrium between buyers and sellers. Doji candles are like a “question mark” in the story, telling us that the market is uncertain about which direction it will take next.
Engulfing Candles: An engulfing pattern, whether bullish or bearish, tells the story of a shift in momentum. If a candle completely engulfs the previous candle’s body, it signifies a strong change in sentiment—either a bullish or bearish reversal.
Putting it All Together: Candlestick Psychology in Action
Understanding the OHLC components is the first step, but it’s how these elements come together that really gives you the full psychological picture. A candlestick is like a snapshot of a battle. The open is where it starts, the high and low represent the range of movement during the battle, and the close is where the conflict resolves.
When you read candles in sequence, you begin to see the ongoing tug-of-war between buyers and sellers. The story unfolds slowly, and the more you practice, the better you become at predicting the next chapter. Let me know your thoughts below!
USOIL, dailyOil prices fell more than 2% as concerns about Hurricane Rafael’s impact on Gulf of Mexico production eased, and China’s latest economic stimulus measures failed to impress oil traders. Rafael, now a category 2 hurricane, is expected to stay centered in the Gulf, reducing risks to oil output. China’s fiscal support focused on easing local government debt rather than stimulating demand, disappointing investors amid ongoing deflationary pressures and a sixth consecutive monthly decline in China’s crude imports. Despite these losses, oil prices rose over 1% last week due to expectations that new U.S sanctions on Iran and Venezuela could reduce global supply.
On the technical side, the price is currently testing the support level of the 23.6% of the daily Fibonacci retracement while the Stochastic oscillator is in neutral levels hinting that the price has the potential to move in either direction in the short term. The faster 50-day moving average is trading below the slower 100-days validating the overall bearish trend in the market, at the same time the Bollinger bands have somewhat contracted showing that volatility is slowing down in the market for crude oil. This could mean that there might be some sideway movement in the coming sessions and there might need a new catalyst to perform any significant moves.
Crude Oil Weekly Technical AnalysisCurrently, Crude Oil is forming a descending triangle on the weekly timeframe, with significant support at the 0.5 Fibonacci retracement level. This level is a critical point; a break below it could signal further bearish momentum. Should this support level fail, I expect the price to target the next Fibonacci levels at 0.618 and potentially down to 0.786, indicating possible continuation of the downward trend.
I will monitor for confirmation signals of a breakout to the downside, such as increasing volume or bearish candlestick patterns, before confirming a short position. However, if support holds, the triangle could consolidate further, so I will remain cautious for potential reversal signs.
My Approach
1. Weekly timeframe as a guiding framework
2. Daily for pattern confirmation
2.1. Bearish Candlestick formation below support (like a bearish engulfing or strong red candle).
2.2. Rejection candles near the descending upper resistance line (like doji or shooting star).
2.3. Increase in volume on a breakdown below support to confirm seller commitment.
2.4. Decreasing volume within the triangle as consolidation continues.
2.5. Spike in volume on a failed breakout could indicate a false move and potential reversal.
3. 4-Hour for entry
Crude oil medium term holdOil has been consolidating for a while now, my view is for it to push down and tag us into our potential trade then anticipate a push towards our TP zone. This might take sometime but it is a good risk to reward return. Key zones are marked out in yellow which might serve as TP zones or entry zones on a break and retest.
USOILUSOIL: I think the next impulse for next pick will starts from this point .
Notice: USE BUY STOP to find best price .
Wti Long Price is forming a rising wedge on 15 mins , the reasonable stop loss is after it breaks the bottom of the wedge.
CrudeOil - Elliott Wave Elliott Wave analysis on Crude Oil suggests more downside closer to $60 levels.
