Technician
Long

WTI Crude Oil: Breakout Confirmed

FX:USOIL   Crude Oil (WTI)
3231 43 33
Following on my latest trade idea, the breakout scenario above main resistance was confirmed. I put a buy limit order near the broken resistance, where i am looking to long after a retest to it..

Good luck...
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Technician
My live trades here https://telegram.me/joinchat/DgsnQ0FzifLqyI2YAoMqqQ

Related Ideas

Casey_Yeo
2 years ago
Good luck mate. Same plan as you except buying at 54 if ever go there. May I ask what is the logic behind that stop loss placement?
Reply
moneymaking
2 years ago
Looks good technician. Thanks for sharing as always and Good Luck !!
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Good Luck, Luay. I am long CAD against JPY. Hope this idea contribute to the strength of CAD, and get me to my TP level. Good luck, Hamed.
Reply
Technician TOP HamedAghajani
2 years ago
Good luck to you mate as well, CAD looks pretty bullish , hope you get out with some good profits
-1 Reply
MuathAlBulbul
2 years ago
Mr. Loay, do you think there is something is changing fundamentally about the US dollar?
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Technician TOP MuathAlBulbul
2 years ago
Recent economic data were pretty soft from u.s., Thats why we have seen this weakness, but generally speaking the outlook of monetary policy haven't changed, so any good data will resume dollar strength.. Watch the CPI tomorrow
-1 Reply
Looks like a complete rising wedge to me.
+4 Reply
Technician TOP IvanLabrie
2 years ago
its broken to the upside, and thats bullish
snapshot
-1 Reply
michalf PRO
2 years ago
CAN YOU PLEAE TELL ME SIMBOL?
Reply
Technician TOP michalf
2 years ago
symbol? this is crude oil cfd contract
-1 Reply
Yahia.Awes
2 years ago
Isn't that a bearish doji?
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ChimbOt PRO Yahia.Awes
2 years ago
candle has not even closed yet
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Yahia.Awes ChimbOt
2 years ago
what happened now then? i think it is a bit too early for long, but we will see...
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Yahia.Awes Yahia.Awes
2 years ago
Anyway those who entered at 46 have nothing to fear
Reply
Rocketman PRO
2 years ago
Is it possible that I can get volume data on USOIL? Any trading volume data?
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wien
2 years ago
any update please? thanks!
+1 Reply
moneymaking wien
2 years ago
hey wien, I think since we got 1st target hit, so we move our stops to break even.
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wien moneymaking
2 years ago
I guess so too, thanks! Just wondering what the adjustment would look like.
+1 Reply
moneymaking wien
2 years ago
No problem. Ya I also would love to hear what technician has to say about the current situation :)
Reply
Technician TOP moneymaking
2 years ago
Nothing to add mate
-1 Reply
Technician TOP Technician
2 years ago
A gravestone doji on the daily, which is slightly negative indication
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moneymaking Technician
2 years ago
Ya I noticed that as well. But I think since it's not at a critical level, it should be invalid.
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Technician TOP moneymaking
2 years ago
We don't know in advance what will be a critical level. A critical level is created when price failed at , at a certain point.
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moneymaking Technician
2 years ago
I thought critical levels are the previous resistance levels at which market failed to break and close above those levels.
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Technician TOP moneymaking
2 years ago
True. But how was those critical levels created? so the same way market can create a new critical level
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Sachinsyd Technician
2 years ago
The high of doji came at 200dma/ema resistance. That is 1st tocuh since bear market. Ideally a strong resis? Further the huge drawdown in inventory and price reaction is negative.
+1 Reply
Sachinsyd Sachinsyd
2 years ago
I mean the 200dma/ema was hit on the futures chart in my MT4 terminal. Donno why Trading veiw shows it bit further up?
+1 Reply
moneymaking Sachinsyd
2 years ago
This is not the futures chart I believe. I might be mistaken.
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moneymaking Sachinsyd
2 years ago
I just opened up the futures char for oil (CLM2015) and I still don;t see the doji's highs touching the 200 ema. Could you clarify what time frame you are looking at?
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moneymaking Sachinsyd
2 years ago
Hey sachin, I have the 200 ema on my charts as well. I don't see the doji's highs touching the 200 ema. All I see is the market closing above 100 ema and the next target to exit ant long positions is the 200 ema on daily time frame. Do you mind sharing your chart with us? :)
Reply
Sachinsyd moneymaking
2 years ago
Donno how to insert a url here.
+1 Reply
moneymaking Sachinsyd
2 years ago
Oh right. That;s alright, don't worry about it. Just let me know the time frame you are looking at and I'll open it up on my charts.
Reply
Sachinsyd moneymaking
2 years ago
Daily chart
+1 Reply
moneymaking Sachinsyd
2 years ago
For the futures chart, I don't have the upgrade to pro level. I only use trading view for currencies. My futures are on a different platform. But here's my daily chart of crude oil futures (CLM2015):
snapshot
Reply
moneymaking moneymaking
2 years ago
The data I get on this chart is delayed.
Reply
Sachinsyd moneymaking
2 years ago
All I can do is email it to u. Or else open a demo on GCI MT4
+1 Reply
moneymaking Sachinsyd
2 years ago
That;s alright. You don't have to through that much effort to show me the chart. It will be better to wait and see what technician has to say about this. Thank you for the replies :)
Reply
moneymaking Technician
2 years ago
ok, make sense. I thought candlestick patterns worked best when at really strong previous structure level. Like we really don;t know where the market will make the next critical level. But that's why we use previous levels to determine where it MAY go. I don't know if that makes any sense.
Reply
Technician TOP moneymaking
2 years ago
Absolutely. You are right. But some times, new important levels are created while we progress, so we should keep that in mind..
+1 Reply
moneymaking Technician
2 years ago
Oh ya for sure. Totally agree. And we can identify these new critical levels by looking at price action, correct?
Reply
Technician TOP moneymaking
2 years ago
To a certain extent. I think we don't have all the answers, we can sometimes and sometimes we cant. As you know it's all a betting.
Reply
moneymaking Technician
2 years ago
Yup and it's good when we do have the answers :)
Reply
Yahia.Awes
2 years ago
Technician are you still long?
Crude Oil, bullish scenario, what do you think?
Reply
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