Zoen_Trieste

Zoen_Trieste Updated 

It looks like oil wants to test the lows again. Goods odds for limit buy entries around the 0.875 retracement @ 5525. For now standing pat.

Zoen_Trieste

The most important part of trading is risk management. A correctly calibrated risk management system helps a great deal in reducing emotions and increasing returns . There are two elements that allow a trader to control the risk of his entry: the maximum risked amount of equity per entry and the stop loss. In the example above, we are assuming that we are about...

Zoen_Trieste Updated 

Seemingly oil has completed a five-wave sequence. The structure seems odd, but overall this scenario seems to have some weight given the closing of the week where bulls decided to take profit. I expect that next week starts off red before another bullish leg. It makes sense to look for fading setups in the lower timeframes.

Zoen_Trieste Updated 

USOIL bears delivered a bearish gap, the first one in a while. Impatient shorts will cover at current measured move target level, which will apply pressure making bulls excited towards 5650 gap re-test. The retest area is a reasonable short with good odds as the context to the left favours bears currently.

Zoen_Trieste Updated 

Seemingly oil has run into the supply area via profit booking. The traders are reducing short risk exposure and are likely to enter for continuation on a pullback. The fading short setup looks valid at this point. However, in the context of the recent price action, the probability of this trade is not the best that we could have.

Zoen_Trieste Updated 

CLV9's relative performance to an assumed Risk Free Rate of $54.00. Pivot highs and lows during the last 8 months are taken as sample series for the calculations. Given the high Sortino ratio, opening long positions around the 54 mark looks reasonable. Wide stops tend to increase odds of landing a trade significantly.

Zoen_Trieste Updated 

Here is a monthly gold chart squared to ATH. As illustrated, the gold price soared to the 15º angle line coming down from the ATH, and this is expected to attract some supply around this level. There's an increased risk of downside for long position holders, and significant reduction of short risk exposure might ensue if there's a sign of demand failure here....

Zoen_Trieste Updated 

DXY went through a failure test above the trading range. There is a strong resistance around 98.50 area. Looking for fading setups on lower timeframes makes sense at this point.

Zoen_Trieste Updated 

Here's a longer term outlook on USOIL with potential supply and demand areas. For now, oil is seemingly set to test the overhead supply area highlighted with fib horizontal levels and sloping-down angle lines. Depending on the reaction upon meeting these levels, the lower demand areas might come into play. Looking to add to short risk exposure for another bullish...

Zoen_Trieste

CLN19 is seemingly approaching a demand area near the psychological $50 mark. The 45º line coming from 0 of the previous major high was touched yesterday and this is expected to support the price around this level. Looking for long entries seems reasonable at this point.

Zoen_Trieste Updated 

This is a daily point&figure chart rounded to a 100 tick movement. Looks like oil wants to test the previous highs and possibly higher into low $80s.

Zoen_Trieste Updated 

This is a try at USOIL pullback formation. The 4th corrective wave is seemingly approaching its final leg down.

Zoen_Trieste Updated 

Rounded to a 100 tick movement point&figure chart of USOIL. By the looks of it, oil is building up momentum @ $63 and 600 tick movement can be expected. At this point, odds favour oil moving lower towards $57 but this can change by EOW. Staying tuned for further tells.

Zoen_Trieste Updated 

This is a try at oil's recovery count. The 4th corrective leg seems likely at this point.

Zoen_Trieste

A potential double top fade setup around 6650. Looking for weakness around that area to trigger a sell.

Zoen_Trieste

Oil's recovery is seemingly maturing at these levels and a fading setup seems reasonable here. The setup depicted has a good R:R and is more of a swing play. Traders are likely to reduce short risk exposure here after a 50% hike from the recent major bottom.

Zoen_Trieste

CLM9 and oil in general has gone up almost 50% since bottoming after the severe selloff. The upcoming weeks upside should be approached with caution as there is an increased risk of exposure reduction from buyers, which is expected to manifest itself in a potential pullback of 200+ ticks.

Zoen_Trieste

USOIL showed a strong close last week and is seemingly looking for another positive close during the upcoming week. There are potential limit buy areas highlighted in the chart. The first area of interest being the weekly HLC3 @ 5773, the level from which the price bounced during the late Friday trading hours. Market participants seem to be waiting for a pullback...