UKOIL SHORT SELL 600+ PROFITBase on daily timeframe market will go short till it reach target level 600 profit
XBRUSD trade ideas
Oil in a depressed phaseThe Brent barrel (Brent) this week has cut its price by -1.05% versus -491% on a monthly basis, versus West Texas (LCrude). Crude oil prices rose 32 cents during the American afternoon session for Brent and 31 cents higher for West Texas Intermediate.
More subdued inflation, much weaker retail sales, coupled with lower-than-expected U.S. consumer prices in April, triggered a boost in financial market expectations of a September rate cut by the Federal Reserve, which could moderate dollar strength and make oil more affordable for holders of other currencies.
Prices have also been affected by the fact that the long-awaited reduction in U.S. crude oil inventories has brought some peace despite the fact that the Middle East conflict continues to reproduce and generate distribution problems. According to data from the Energy Information Administration (EIA), U.S. inventories of crude oil, gasoline and distillates fell, reflected in an increase in refining activity and fuel demand. Inventory figures fell to 2.5 million barrels to 457 million in the week to May 10, versus the 543,000 expected. There have also been possible signs of slowing US inflation and strengthening price-supported demand, as well as we say geopolitical risk in the Strait of Hormuz area remains elevated. In addition to the Russian-Ukrainian conflict that is generating a redistribution and increase in the cost per barrel to Europe.
The fact that the news is showing a shortage may simply be a rash of geopolitical risk and failed negotiations between OPEC (Organization of the Petroleum Exporting Countries) and Russia. Both Russia and Saudi Arabia have reduced their production volumes. One of the reasons is purely geopolitical but the more important reason is purely economic, the world economy remains weak and with it the demand for oil. The world's leading economy is on the borderline of a coma to go into recession, and although the second largest economy, China, is growing in GDP, it does not mean that it will have the same dynamism as before 2020. This depresses the outlook for demand and therefore the price.
Looking at the chart, it can be seen that the support zone of Brent barrel is located at $71.47 and the resistance to be overcome is located at $95.12. The constant fall in the price has been gradual, so we may continue to see a decline towards the long term support in the coming weeks if the geo-economic picture does not change much.
Ion Jauregui - Analista AT
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The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
BRENT CallsExpecting the price to rebound from the current demand zone and test $87 area. If break out from that supply area is successful, the price should continue to rally to $90.
Black Gold Judgment Says Huge Challenge Is Just One Step AheadGlobal shares rose while the dollar retreated on Wednesday, after a hot reading of U.S. wholesale inflation set a nervous tone for trading before a consumer price report that could prove decisive about when the Federal Reserve cuts interest rates.
The frenzy in so-called meme stocks entered a third day, with shares in AMC and GameStop soaring by more than 25% at one point in premarket trading before retracing some of those gains.
Price action was more subdued as investors were reluctant to push any market too aggressively one way or another ahead of the monthly U.S. consumer price index later in the day.
The boom has drawn parallels with the meme-stock craze that gripped markets in early 2021, where retail traders, using trading platforms and social media investment advice pumped up the value of stocks that many large investors had bet heavily against.
Technical graph for Brent crude oil says, right here is a similar challenge like in 2021.
BRENT. Levels for intraday trading 15.05.2024During the day you can trade from these price levels. Finding the entry point into a trade is up to you, depending on your trading style and the development of the situation.
If you expect any medium-term price movements, then most likely they will start from one of the zones.Relevant to use as a location for installing TP.
Levels are valid throughout the day, the date is in the title. The next morning I adjust the levels based on current data and publish a new post.
The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :)
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Levels are drawn before the European session, based on volumes and data from the CME. They are used as zones of interest for intraday trading. When approaching a level, a “reaction” is expected, which can be traded for both a rebound and a breakout. The worst option is if we revolve around the level in a flat.
Do not reverse the market at every level. If there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern.
TV does not allow publishing timeframes smaller than M15.Reactions to levels and the search for entry points are more convenient to look at M5-M1.
Don’t forget to like Rocket and Subscribe!!!
Brent Retreats Below 200MA Ahead of Key ReportsWith OPEC's Oil Market Report set for release on Tuesday and the International Energy Agency's Oil Market Report on Wednesday, volatility looms over crude prices this week. Let's delve into the technical landscape of Brent Crude, the international oil benchmark, as we approach these pivotal reports.
Brent Technical Outlook: Retracement Channel in Focus
After reaching six-month highs in early April, Brent crude has eased off in recent weeks. Driving factors behind this pullback include the increasing likelihood of higher-for-longer US interest rates, and a subtle easing of tensions in the Middle East
The price action during this retreat has formed an orderly retracement channel for Brent crude, marked by a sequence of lower swing highs and lower swing lows on the daily candle chart.
This retracement has pushed prices below the 200-day simple moving average, which has maintained a sideways trajectory since September 2023, coinciding with the formation of a long-term wedge pattern in the market. Brent bears are now eyeing a potential retest of the wedge pattern's lower boundary.
However, Brent crude currently finds support at two levels - the 50% Fibonacci retracement level of the December-April rally and the volume-weighted average price (VWAP) anchored to the December lows. Brent bulls are hopeful that these combined support levels might serve as a foundation for a price recovery.
Brent Crude Daily Candle Chart
Past performance is not a reliable indicator of future results
Pre-Event Trade Plan
The impending oil market reports could trigger significant trade opportunities.
Bullish Scenario: A breakout above the descending retracement channel, followed by a close above, could pave the way for a retest of April's highs.
Bearish Scenario: A breakdown below the anchored VWAP might increase the likelihood of revisiting the lower boundary of the long-term wedge pattern.
Risk Management:
Traders can utilise Brent Crude's Average True Range (ATR), currently standing at $1.63, to gauge daily price volatility. This information should guide decisions regarding stop placement and price targets.
Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance. Social media channels are not relevant for UK residents.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.84% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
OIL MAY 2024 WEEK 3 OUTLOOK -
Daily- bearish. looks bearish but we have been trading near S1 for a week now and we have multiple POCs below current price where we can see buyers stepping in. so I will take entries on both sides but will look to close quickly.
Origin - bearish, in need of pullback. 2 zones I am looking at are **82.82 - 83.13** and **83.67 - 83.32**. I will look for a reaction from these areas on oil this week.
Brent Crude Oil - Going upPrice printed a running flat last week, which typically fails.
The impulse 5-wave up has now retraced for an entry.
At the minimum, we should hover for a while and see another 5-wave move up.
This appears to be a corrective trade that is counter to the main direction, so be nimble to exit at any signs of a top.
Invalid below 82.25.
BRENT. Levels for intraday trading 10.05.2024During the day you can trade from these price levels. Finding the entry point into a trade is up to you, depending on your trading style and the development of the situation.
If you expect any medium-term price movements, then most likely they will start from one of the zones.Relevant to use as a location for installing TP.
Levels are valid throughout the day, the date is in the title. The next morning I adjust the levels based on current data and publish a new post.
The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :)
---------------------------------------
Levels are drawn before the European session, based on volumes and data from the CME. They are used as zones of interest for intraday trading. When approaching a level, a “reaction” is expected, which can be traded for both a rebound and a breakout. The worst option is if we revolve around the level in a flat.
Do not reverse the market at every level. If there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern.
TV does not allow publishing timeframes smaller than M15.Reactions to levels and the search for entry points are more convenient to look at M5-M1.
Don’t forget to like Rocket and Subscribe!!!
BRENT. Levels for intraday trading 9.05.2024During the day you can trade from these price levels. Finding the entry point into a trade is up to you, depending on your trading style and the development of the situation.
If you expect any medium-term price movements, then most likely they will start from one of the zones.Relevant to use as a location for installing TP.
Levels are valid throughout the day, the date is in the title. The next morning I adjust the levels based on current data and publish a new post.
The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :)
---------------------------------------
Levels are drawn before the European session, based on volumes and data from the CME. They are used as zones of interest for intraday trading. When approaching a level, a “reaction” is expected, which can be traded for both a rebound and a breakout. The worst option is if we revolve around the level in a flat.
Do not reverse the market at every level. If there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern.
TV does not allow publishing timeframes smaller than M15.Reactions to levels and the search for entry points are more convenient to look at M5-M1.
Don’t forget to like Rocket and Subscribe!!!
Zigzag pattern bullish scenarioEsteemed analysts and traders,
I hope this correspondence finds you in good health and high spirits, prepared to tackle the upcoming week with renewed energy. I extend my best wishes for your continued success in all your business endeavors. It is worth noting that success in trading is largely dependent on the consistent definition and adherence to one's own rules.
As a supporter of the Elliott Wave Principle, I consider this methodology an invaluable tool for market analysis. After three years of personal experience, I have developed my approach by combining this principle with meticulous consideration of different market scenarios. I strive to avoid market surprises by maintaining a range of market prospects, which enables me to recognize the market structure forming with 100% accuracy.
I am pleased to share my analysis with you, with the caveat that I do not provide buy or sell signals. My perspective on idea analysis is entirely impartial, and if my analysis meets your standards, it may serve as a guide to making an informed decision.
For your reference and comparison, I have attached my previous analysis of the same market. All the details of my analysis are clearly labeled for ease of comprehension. Nonetheless, familiarity with the Elliott Wave Principle theory would facilitate an understanding of the analytical idea.
My study of the Elliott Wave Principle took nearly three years, during which my understanding and experience with this invaluable tool have grown. My progress thus far is a testament to the legacy of Ralph Nelson Eliot, whose genius has provided the foundation for my achievements. May he rest in peace.
I express my gratitude for your continued support and kindness, and welcome your comments and critiques.
May my analysis be a valuable asset to your business journey, and I remain sincerely yours,
Mr. Nobody
BRENT. Levels for intraday trading 8.05.2024During the day you can trade from these price levels. Finding the entry point into a trade is up to you, depending on your trading style and the development of the situation.
If you expect any medium-term price movements, then most likely they will start from one of the zones.Relevant to use as a location for installing TP.
Levels are valid throughout the day, the date is in the title. The next morning I adjust the levels based on current data and publish a new post.
The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :)
---------------------------------------
Levels are drawn before the European session, based on volumes and data from the CME. They are used as zones of interest for intraday trading. When approaching a level, a “reaction” is expected, which can be traded for both a rebound and a breakout. The worst option is if we revolve around the level in a flat.
Do not reverse the market at every level. If there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern.
TV does not allow publishing timeframes smaller than M15.Reactions to levels and the search for entry points are more convenient to look at M5-M1.
Don’t forget to like Rocket and Subscribe!!!
OIL Exended RunMonthly: Failed to break above the 6 Months High and made Turtle
Daily: Note the crude numbers realised on the 1st May 2024, its only current that the Candles are breaking out of the news bar after 3 bar Range
Note:
Normally this break with have 3-5 days follow through
Note also, for further confirmation Ichimuko trending bearish for 8hr-1hr confirming sells
UKOIL Preps to Face a Res-Test Near $90UKOIL didn't have the strength to reach $94, but it seems that Bulls have not gotten the memo just yet. Perhaps a break above $90 reignites the path?
I'm doubtful, but we'll see. Failure to pass and hold levels above $90, will likely send UKOIL back to mid-high $70s (before the next major run).
BRENT. Levels for intraday trading 6.05.2024
During the day you can trade from these price levels. Finding the entry point into a trade is up to you, depending on your trading style and the development of the situation.
If you expect any medium-term price movements, then most likely they will start from one of the zones.Relevant to use as a location for installing TP.
Levels are valid throughout the day, the date is in the title. The next morning I adjust the levels based on current data and publish a new post.
The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :)
---------------------------------------
Levels are drawn before the European session, based on volumes and data from the CME. They are used as zones of interest for intraday trading. When approaching a level, a “reaction” is expected, which can be traded for both a rebound and a breakout. The worst option is if we revolve around the level in a flat.
Do not reverse the market at every level. If there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern.
TV does not allow publishing timeframes smaller than M15.Reactions to levels and the search for entry points are more convenient to look at M5-M1.
Don’t forget to like Rocket and Subscribe!!!
OIL MAY 2024 WEEK 2 OUTLOOK -
Daily - this is tricky. oil has fallen considerably since it's considerable run up which started in Feb. this seems like a healthy pullback though. as long as it holds above **82.98**, we can perhaps look to go long next week. NOT THIS WEEK
Origin - Bearish, in need of pullback. range to look out for is **83.18 - 85.47**. we'll be looking for price to reject this level as it moves up. but we have key zones above and below so we need one side clear in order to get involved. not going to participate in oil this week.
SL #63970/90cbS261h1
160cbS261h4
Bigger doesn't means always better. Time still playing the crucial timing here expecially in any big movement. Result could be differ from time to time. When and where playing the big role.
I could just end it within my trading hours, but wasting 3 more hours just to get stopped just wasting 6 hours of my time.
Recover with much more smaller structure in h1 and validation build up on tokyo next day.
Selling is still the best option but im still backtesting for continuation system.
Brent's Buyer Attraction Amidst Downturn Signals CautionHello Everyone,
Brent is currently drawing in many buyers who are entering the market despite the downturn. Long-term bullish projections remain solid. However, if the price stabilizes below the 1-year pivot point, we could witness further downside.
TradeWithTheTrend3344
Brent stopped out and Drawdown increasingIn this live trading session video,we look at the BRTUSD trade that got recently stopped out for a small loss on the 100k traders challenge account. We also look closely at the drawdown and why this is happening according to the strategy characteristics on both 50% OE and 20% OE strategy. Finally, we explore on what we should do about this by looking at 3 different options. The concepts and ideas in this video can be cross transferred onto any strategy.
Brent Crude Oil: A Closer Look at Bearish SignalsThe BCO/USD chart reveals a bearish divergence ; despite higher price highs, the CCI shows lower highs, signaling a potential reversal. Additionally, the CCI's presence in an overbought zone suggests the pair might be peaking.
April's monthly pivot at 85.66, like March's, remains untouched —a notable point for traders. This untouched pivot, combined with our technical indicators, hints at a possible retracement to 85.66.
In essence, the bearish divergence and overbought CCI, alongside unmet pivot points, suggest a downturn could be imminent. Traders might consider preparing for a move towards April's pivot, keeping an eye on evolving market dynamics.
CRUDE OIL Bullish Heist Plan to BuyDear Oil Robbers/Traders,
This is our master plan to Heist Bullish side of OIL Barrels based on Thief Trading style Analysis. My dear Robbers U can enter at the any point above my entered area, Our target is Dangerous Red Zone its Strong Resistance Zone. My dear Robbers please book some partial money it will manage our risk. Be safe and be careful and Be rich.
Loot and escape near the target 🎯
support our robbery plan we can make money take money 💰💵 Join your hands with US. Loot Everything in this market everyday.
CRUDE OIL Bullish Side Robbery Plan to make moneyMy Dear Robbers / Traders,
This is our master plan to Heist Bullish side of Crude oil Market based on Thief Trading style Technical Analysis.. kindly please follow the plan i have mentioned with target in the chart focus on Long entry, Our target is Red Zone that is High risk Dangerous area market is overbought / Consolidation / Trend change /Strong Pullback happens at the level Bear Robbers / Traders gain the strength. Be safe and be careful and Be rich.
Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of Powerful dynamic resistance level, Once it is cleared we can continue our heist plan to next target.
support our robbery plan we can make money & take money 💰💵 Join your hands with US. Loot Everything in this market everyday.
TrendingTopic: Brent on the riseToday, the Brent crude oil price has experienced a turbulent opening upwards, turning around from $86.72 to reach its current price at $87.54. The truth is that the triple bounce in the middle zone of the channel represents that the oil price has come to stay at least in this price area, after the high correction it has suffered since Friday April 12 and 19 where it could not pierce its upward price zone. It seems that in spite of everything West Texas is following in the same wake. Partly it is due to the results of oil and gas extractive companies that have had poor quarterly results, partly it is also due to crude inventories being slightly lower as the gasoline report was at 600,000 barrels versus 778,000 barrels for the five year average.
Last week, refineries increased their inventory by 1.6 million barrels, 7% below the five-year average for this time of year. This is a clear sign that the United States has become a more reliable supplier of this commodity to Europe, especially since Europe no longer relies on Russia for its orders. There are clear doubts in the market that Biden and his restriction policies, especially on liquid gas, could leave them in a precarious state. In other words, the lack of diversification in an environment of geopolitical risk may be the determining factors that especially affect the Brent barrel and LNG with a view to the coming winters. This downward adjustment may create problems in Europe. While demand remains on pause, the region currently in spring has flagged at the Amsterdam conferences its concerns among the main players in this sector, especially if we have a cold winter on this side of the Atlantic, which may generate that the futures of such commodities are reflected upwards, since contracts for next winter may be more expensive than today, ahead of time.
All this comes in the wake of the conflicts in the Strait of Hormuz, the new Russian northern lane for Chinese cargo transports, and the new Venezuelan-US enmity that seems to be an addition to all the ills orchestrated by President Biden in that part of South America.
Merey crude oil was sold in China for $14 a barrel, at ICE Brent on purpose compared to $11 a barrel prior to the establishment of sanctions between the USA and Venezuela, and at $8 a barrel at the beginning of the year. In other words, China continues to buy more from Venezuela than Europe did through Washington, and in the end the Mexican and Russian reports are also presenting themselves as an additional reason to be bullish on these products.
If we go back to the chart, both Brent and Crude are showing a clear upward trend, its trading bell is marking a possible return to $89.34 dollars although on the other hand its RSI started in oversold 38.22% is currently in the middle zone at 44.73, so it has a long stretch to fulfill the forecast of being bullish again. What is clear is that the candlestick pattern shows a clear upward trend.
Ion Jauregui - ActivTrades Analyst
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The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
