XBRUSD trade ideas
DeGRAM | UKOIL short opportunityUKOIL broke through the support level .
The price tested, broke, and closed below the major resistance level of $84.00.
The oil market is printing a triagle pattern.
We anticipate a bearish continuation trade.
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UKOIL / BRENT the line maybe is important line zone for buy or sell.
note : my analysis and trading style is base on supply and demand , support and resistance . market structure, and price action.
before entry I will wait and see how price approach and react to the zone. must waiting / look how price action (reaction) and market pattern when price come to the line zone before decide to entry at the line zone.
if didn't have any good price action and market pattern. I will ignore the zone.
"trade what u see on the chart and think (by logic) , do not trade with what u want or what u asked or what u hope (by emotional)"
happy trading all
Break or Bounce?Price is once again creeping towards support for a 5th attempt by the sellers to push lower. Despite numerous attempts, the buyers have successfully defended the zone since December 2022. Are we going to see another bounce or have the sellers now gathered enough momentum to break out of consolidation.
UKOIL // Triangle patternThere is compression in the triangle. Let's pay attention to the direction of the break.
brentmy hopes are with gas ,
prices will grow thy, but i REALLY hope not that big, i got 2 litre munchmonster
Brent Oil Fractal Repeat Roadmap July 2022So far it has followed the 2009/2011 recovery fractal very well
Oil moves in an ascending channel?
Brent oil needs to conquer the resistance of 200EMA at 89.60 before we can talk about 90ish price. A bit hefty upside due to some bearish divergence seen across indicators.
More likely to stay neutral in the range 81.51-89.60. Yeah it is a big volatile range.
Brent - target 94 in wave (2) pbWave (2) in crude is taking shape of a wxy structure where only C of y is left. I count 1-2/1-2 from 23/02 low. I expect to see a strong move at least to 90, then pb in 4 to 88, then up again to 94 target in 5 of C.
Brent Confirm the Weakness Brent Confirm the Weakness after Close Under 84.700 , We may trade now in wave C that target level 70.20 …. close above 86.50 cancel this idea
#Brent crude - an important inflection areaThis analysis is done on a monthly chart so this could still consolidate and take some time to play out but just a few interesting points to note:
(1) the 200 month moving average (green line) has acted as a support and resistance level for the price of brent crude for the last decade and a bit (looks to be supporting price action currently)
(2) the 61.8 fib from the extreme April '20 lows and March '22 highs come in at around $77.60 where the market recently bounced from
(3) resistance monthly highs in October '18 and October '21 seem to be now acting as support (change of polarity).
(4) RSI 50 level holding on the RSI
(5) Price candle action (wicks) on the monthly chart over the last quarter shows that the bulls are ready to buy into any weakness during the month
(6) Not shown on the chart but if you look at the daily chart we are forming a flat top triangle which usually breaks to the upside which also has a target at roughly $100
Given the significance of this consolidation zone between 77 and 84 leads to a high probability that OIL will once again move higher after this consolidation phase is complete. Thus on a medium term view I would use any weakness in Brent crude to accumulate a position for higher levels with a medium target around the $100 mark
If you look at seasonality data for Crude oil futures in the past, you can see it enjoys a favourable period from the end of February to around end of September.
www.equityclock.com
BRENT Oil aims for a breakoutBRENT Oil is about to break through the 200-period MA. If so, we expect a strong upward momentum up to $86.00 per barrel.
🔼Trade: Buy BRENT
🎯TP: 85.0, 86.0.
UkOIL BUY ideathe overall trend it up
we expect price to reverse from this level to continue upwards
