Crude Oil BreakoutOil has been in a descending wedge pattern for quite a while, the last 19 months or so. It is just now breaking out, price target is between $100-$110 a barrel but could go higher we will have to see how inflation progresses.
USDWTI trade ideas
crude oil shortcrude oil short
hello i m Roddy01
given the limited number of posts I will not post all my signals and results here
💎Please don't be greedy
ENTRY : yellow point
TP : blue lines
SL :
below red line for LONG position
above red line for SHORT position
⛔️INSTRUCTIONS 1:
Please respect the yellow entry point, otherwise you risk entering too early before my strategy or too far, thus reducing gains and aggravating losses in the event of a stop loss
⛔️INSTRUCTIONS 2:
For risk and money management:
5% of your wallet for LEV X ≤20
And
3% of your wallet for LEV X ≥ 20
TP FILLED ON USOIL TRADEYesterday I posted to sell USOIL, and I didn't post about where to close since we didn't close at the target, instead we closed a bit higher after that the market swept a LQ at 77.399.
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WTIUSD - BearishWTIUSD has formed a bearish divergence and wising wedge pattern. Place sell stop below last low.
SELL WTI usoil hello
Although the liquidity level and the volume case are in the oversold area and the price is stuck in the place of traders' greed.
I see the price going down to 76.66
Meanwhile, the price must move to provide liquidity for the trading gap
WHY I ANTICIPATE USOIL TO RETEST $75 LEVELUSOIL would probably retest $75 level again according to my analysis.
SELL USOILGood morning traders,
I'm sharing with you my trade for today on OIL, you acn sell with the same TP and SL as mine.
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USOIL - high placed? what's next??#USOIL.. well guys market placed a day high 79.30
keep close guys because market placed a reasonable high so far and if market hold it in that case you can see a drop from here.
don't be lazy here.
good luck
trade wisely
Crude oil - consolidation?Crude oil has pulled back a touch this morning with front-month WTI trading around $77. It could be that the market is ready to consolidate after a significant bull run, which began just before Christmas. WTI is up 12% since 20th December, and 15% from its last significant low point, hit earlier that month. A bounce in crude prices has been overdue for a while now, given the downtrend which has been playing out ever since prices peaked in early 2022, soon after Russia’s invasion of Ukraine. Since then, front-month WTI has held above $65 per barrel on a daily closing basis. So, while this latest rally may see crude break out of its downtrend, it remains within sight of that multi-year low. Last year, crude prices came under constant selling pressure as the outlook for global demand growth was repeatedly revised down. China’s economic slump following its property bust was the main driver of these revisions. It remains to be seen if promises of monetary and fiscal support from Chinese authorities will prove substantial enough to improve this dynamic. Currently, crude is getting a boost from the cold weather across Europe and parts of the US, as well as from fresh US sanctions on Russian oil sales.
Conflunce of AB=CD and GANN SQUAREThe AB=CD is completing soon provided the Gann minor resistance does not hold, Buy entry at C was triggered by increase in volume and upward momentum. looking for signs of weakness at the fib extension 1.618 or before that to go short. Gann square is very much subjective but the market was respecting the major zones and thats all that matters to me.
Always trade what you see and practise good risk management.
USOIL BULLISH TARGET 82Hey There on 1DTF USOIL continued rising there value daily basis
1. Horizontally support for bearish level is above 80 if the rejection is manipulate and touch there Supply zone we can see bearish pattern
2. Technically Support showing that USOIL will bullish pattern continued next there target 82
Hopefully we can see rising candle of USOIL daily basis
Good luck🤞🤞
Crude @Resistance zoneCrude now trading at Resistance zone near 80.5/82$
If not sustain above then again seen down side
Oil Prices will be on the stage "again"TVC:USOIL
Already break up the monthly downtrend line.
The target is based on the Fibonacci extension.
oilOANDA:WTICOUSD
oil its look uptrend to break the last high when price reach the 70.80 you want to enjoy your profits or move sl to entry price and wait until reach the target
$USOIL USOIL WT CRUDE OIL Descending TriangleTVC:USOIL USOIL WT CRUDE OIL price action has formed a Descending Triangle on the Weekly timeframe.
Current Price: 70.3
In previous years, #USOIL reached a high of 149 and retraced to a low of 66.4 (A retracement of over 50%)
A breakout of Descending triangle can lead to higher prices: 73.9, 84.4, 94.3
A break below 66.4 can lead to prices down to 42.7!
It remains to be seen...
WTI Crude Oil on a daily timeframe (D1). Here's a detailed breakKey Elements in the Chart:
Price Movement:
The price is currently at $76.23, showing a bullish move of +2.67%.
There is a visible uptrend after bouncing off a support zone.
Key Levels (Green Horizontal Lines):
$72.95: A significant support level.
$82.00, $84.28, $86.64, $88.92: Potential resistance levels, with $88.92 being the upper target.
Descending Trendline:
A long-term descending trendline acts as resistance, and the price appears to be breaking out or retesting this line.
Target Zone:
Marked in yellow, indicating a potential short-term target where the price may consolidate or face resistance.
Wave Analysis:
Labeled "a," "b," and "c," it represents a corrective or impulsive wave structure, suggesting a move towards higher levels.
Gray Box (WCL):
A key area of accumulation or support, possibly a weekly close level (WCL), where significant buying interest occurred.
Projection:
The white arrow indicates a potential bullish continuation towards higher resistance levels. A pullback might occur near the green zone before the next leg up.
Observations:
Bullish Momentum: The breakout above resistance suggests further upward movement, provided the price stays above $75.37–$74.54.
Next Resistance: The target is likely $82.00–$84.28 if the breakout is confirmed.
Pullback Scenario: If the price fails to hold the breakout level, a retest of the WCL zone or $74.54 is possible.
Strategy:
For Buyers: Look for confirmation of the breakout above the trendline and target higher resistance levels.
For Sellers: Watch for signs of exhaustion near the target zone or resistance areas.
Confluence of an AB=CD pattern , a Bull flag and Wyckoff spring The best trade is the hardest trade, you have to be patient enough to let the trade develop and pull the trigger without hesitation.
AB leg formed with a small retracement that led to a coiling pattern the bull flag, Wyckoff spring (bear trap) formed at C and then price broke the accumulation zone with a retest of trend line and that triggered an entry for a BUY with a CD measured move profit target.
Now looking to sell at D or at 1.27 or at 1.618 fib extension levels. Only taking a sell if signs of exhaustion are visible.Price can continue up.
Always trade what you see and practice sound money management.
RE: USOIL MARKET ANALYSIS AND PRICE PREDICTION I, dropped this analysis about USOIL last week, Take profit 1 has been achieved at the Order Block. Price is heading towards the Renegotiation Resistance to clear off the buyside liquidity. I just entered again for TP 2. You can enter also!
GOOD LUCK GUYS!
WTI crude oil Wave Analysis 9 January 2025
- WTI crude oil reversed from support level 72.25
- Likely to rise to resistance level 74.60
WTI crude oil recently reversed up from the key support level 72.25 (former resistance from October and November, as can be seen below).
The upward reversal from the support level 72.25 continues the c-wave of the active ABC correction 2 from the middle of November.
WTI crude oil can be expected to rise in the active minor c-wave to the next resistance level 74.60, coinciding with the resistance trendline of the narrow daily up channel from last month.
COLLECTED PROFITS ON TODAY'S TRADE ON USOILI posted earlier today to buy on USOIL | OIL | CL1!, We set a 1:2 trade but since today is a holiday and the markets are slow, we closed after that we have an equal high and the market swept them.
We had a wonderful trade in a closed market.
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Wajani Investments1/09/2025
WTI is currently making LHs as seen from 0-2. At point 2, support becomes resistance to the left. In addition, the 50 EMA has crossed the 22 EMA all further confirming a bullish activity. If structure 2 is not broken to the downside side, then OP1 holds, however, if structure 2 is broken, then look for OP2.
What are your thoughts?
BUY USOILAs you can see here on the chart, the market will start its rally upwords after the last down movement, now we got the confirmation of the reversal.
Buy and target the same level as mine.
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