US/OIL Still Falling Longer Term.Election shocks may change market state significantly if any occur.
Short zones nonetheless persist at a preferably lower size.
SZ = Short Zone(s).
USOIL trade ideas
Crude turns upCrude prices shot higher overnight following news that OPEC+ has delayed an expected production increase. Both Brent and WTI were up around 3% on the news, even though the announced delay is only for a month. This has taken front-move crude back up to an area of resistance around $71.50-72.00. If it can push above this region convincingly, and then hold it on any pullback, then this starts to improve the immediate outlook as far as the bulls are concerned. The daily MACD has started to turn up a touch, and while it remains in negative territory, this suggests an uptick in upside momentum. There has also been some relief that Iran did not take the opportunity over the weekend to launch an attack on Israel in retaliation for the Israeli attack the week before. Prices had jumped on Thursday evening after Israeli intelligence reported that Iran was planning to attack Isreal from its bases within Iraq.
USOIL - Key Levels for Bullish Stabilization or Bearish ReversalTechnical Outlook
The price may stabilize within the bullish zone upon a 4-hour candle close above the pivot line at 68.53, targeting 70.49 initially, followed by 71.78.
Bullish Scenario: While trading above 68.53, the price is likely to move toward 70.49 as the first bullish target, with 71.78 as the next level.
Bearish Scenario: A reversal and stabilization below 68.53 would open a move toward 67.03, with further downside potential to 65.85.
Key Levels:
Pivot Point: 68.53
Support Levels: 70.50, 71.78, 72.75
Resistance Levels: 67.03, 68.85, 63.51
Trend Outlook:
Bullish while the price remains above 68.53
PREVIOUS IDEA:
Oil analysis for the week.“Oil - USOIL”
At the last high reached by oil prices at 78.40 dollars per barrel, a 61.8% upward correction occurred according to the Fibonacci sequence, which is more than enough to start a downward impulse and was already by nearly a thousand pips, and the movement continued after that in a wobbly manner until a Trendline or upper wedge was formed for the descending corrective channel, so we notice in the picture the presence of the level in red, which was the closing of last week, and thus there was a bullish price gap at the opening.
Thus, there was an upward gap at the opening. Now the price is at 71.70
We expect the upward movement to touch the green-colored sub-trendline area and expect a simple tail above the target of 74.21
It is also possible to continue it to the fictitious line level at about 74.75.
From there, a corrective move down.
This and God knows best.
USOIL - Long (Daily chart)
After a long down trend, breakout a parallel channel, i am trying to entry at the breakout point, set my SL at the lower low. Wait for the target price ...
USOIL BUYERS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
USOIL downtrend evident from the last 1W red candle makes longs trades more risky, but the current set-up targeting 71.19 area still presents a good opportunity for us to buy the pair because the support line is nearby and the BB lower band is close which indicates the oversold state of the USOIL pair.
✅LIKE AND COMMENT MY IDEAS✅
WTI Oil H4 | Resistance overheadWTI oil (USOIL) is trading close to a swing-high resistance and could potentially reverse off this level to drop lower.
Sell entry is at 71.05 which is a swing-high resistance.
Stop loss is at 72.50 which is a level that sits above an overlap resistance.
Take profit is at 68.61 which is an overlap support that aligns with the 61.8% Fibonacci retracement level.
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USOIL Potential UpsidesHey Traders, in tomorrow's trading session we are monitoring USOIL for a buying opportunity around 69.10 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 69.10 support and resistance area.
Trade safe, Joe.
WTICO/USD Head & Shoulders on is wayThe breakout of Neckline occurred. The Target of H&S fall into zone where different levels are in action !
- Fresh Demand D1 lvl
- Length of H&S target lvl
- Apex of prior triangle formation lvl
Now let see ...
USOIL Short Plan For Coming DaysMonthly Candle Close below Previous Candle and Sweep Previous Candle High, So I am Looking Bearish Trend for USOIL, Here is my Short Plan, If You Following Then Follow with Risk Management.
USOIL View!!** Indeed, S&P 500 index is struggling to rekindle its spirit
** Benchmark U.S. 10-year Treasury yield
US10Y
climbing into the Cloud, and on track to rise for an eighth straight week
** Nearly every sector startled: Technology most timid, while just Consumer Discretionary and Communication Services show gri
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 :-)
Mid mth barn Howdy - expand to get more precise levels - long term Fib demand below to return to 70.42 or drop to test 64.71 /.5 . Long term daily support at 68.32 / 1597 daily atm . watching if it plays under 69 . Should be an exciting week . keep your stick on the ice . Boosts appreciated - thx .
Mid mth barn /green Howdy - expand to get more precise levels - long term Fib demand below to return to 70.42 or drop to test 64.71 /.5 . Long term daily support at 68.32 / 1597 daily atm . watching if it plays under 69 . Should be an exciting week . keep your stick on the ice . Boosts appreciated - thx .
OIL SIDEWAYI'm not a market maker so I won't know exactly how the market will behave but I will contribute my opinion on the issues that concern you.
Oil long short termShort move on oil making HH AND HL structure still in tact looking to enter at the 61 fib up to the first fib extention short term trendline brocken but structure still in tact buy opportunity
USOIL: Strong Bullish Bias! Buy!
Welcome to our daily USOL prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 70.221
Wish you good luck in trading to you all!
MY TV COMPETITION WTICOUSD LONG IDEA 01/11/2024Direction: Long
SL: 66.862
Indicators:
1. MA (20,50,100,200)
2. Trendline - Algo
3. Support and Resistance
4. Fib Level
5. I also use MT5 - Tradingcentral tools
Technical:
1. MA 20 Yellow is below the MA 100 and 200 (Purple and Red) but looking for it to reverse and go up and above the 50,100, and 200.
2. Green Trendline was broken recently.
3. Price bounced off from a support zone.
4. FIB level at 0.382.
5. Tradingcentral tool signaling Rise on Time frames 15m,1h,and 4h but it is bearish and signaling DECLINE on daily time frame at the moment.
Fundamental and economic:
1. Geopolitical tension is adding some volatility to OIL prices.
2. I use Edgefinder tool which shows me a score of -3 "bearish" on USOIL but I think this trade idea is for short term and more of a "I predict that this might go to xyz based on the technical and fundamental insights".
3. We are in Q4 and usually there is alot of volatility mostly bearish but I'm going against it since we have US elections coming up.
Oil spikes on escalation fearsCrude oil continues to push up off the lows hit on Tuesday when front-month WTI broke below $67 per barrel for the first time since the beginning of October. Since then, oil has managed to build some upside momentum, although it’s far too early to tell if there’s a definitive change in direction. Nevertheless, things are looking better for the bulls, in some respects. The daily MACD has begun to turn higher, although it still remains in negative territory. Yesterday evening, prices suddenly surged higher in a move which took front-month WTI from $69 to $70.50 in less than an hour. The jump came after Israeli intelligence reported that Iran was planning to attack Isreal from its bases within Iraq. This should keep markets off balance as the weekend approaches. Traders will be on alert over the weekend. And beyond, in the absence of an attack. But it also means that yesterday’s rally is likely to unwind completely should any attack prove ineffectual. Despite this, it is potentially another step up in the escalation of hostilities which is starting to normalise direct military contact between Israel and Iran, rather than with Iran’s proxies.
US Oil might need to partially close this MEGA GAPHi Everyone!
I think that this mega gap short needs to be at least partially filled before going shorter. We are currently in nice profit and I have set a breakeven.
OIL: Three days breakout long on the marketHi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you!
“Trade setups, not movements”
1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)
Monday DAY 1 Opening Range
Tuesday DAY 2 Initial Balance
Wednesday DAY 3 (reset DAY 1) Mid Point Week
Thursday DAY 2
Friday DAY 3 Closing Range ✅
2. SIGNAL DAY
First Red Day
First Green Day
3 Days Long Breakout ✅
3 Days Short Breakout
Inside Day
3. WEEKLY TEMPLATE
Pump&Dump
Dump&Pump ✅
Frontside ✅
Backside
4. THESIS:
Long: that's my primary thesis, let's analyse the current market condition.
- Monday opened with a huge gap breaking through the previous low of week, establishing as well the high low of the new week (opening range).
- Tuesday, it almost consolidated the full day, not really interesting in terms of trading activity.
- Wednesday, the market performed the first breakout of the week, breaking the HOW, triggering long traders in the market and closing out of balance (an interesting signal)
- Thursday closed again out of balance, long traders are potentially driving this move.
- Today, Friday, the market has good chances to go reaching and targeting the closing price of last Friday, why ? because traders shorting the beginning of the week are still in profit and stops are placed above that level. After PMI 10am, if the market will setup for a buy low opportunity around the current level (yesterday HOD or London low), I will be willing to take this trade.
Short: at the moment not really into this scenario, but however, the market could retest the current high of day, failing for a reversal, day 3 longs in the market it can reverse for major move, but I repeat, the current setup is potentially long!
Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni
Trade Oil Like THIS: Price Action Training Live.Price data on oil markets can be very 'readable'.
Preferred prices become very visible and lead to higher levels of probability and of course profitability.
WTIIf the analysis aligns with the market's actual direction, and the currency pair moves in the anticipated direction (up for a buy trade or down for a sell trade), the trade will likely yield a profit. The magnitude of the profit will depend on the size of the price movement, position size, and leverage used.
