Colgate has produced a repeating pattern, a channel that will most probably lead to a bearish break.
There we got our big push that had to happen at some point now we have basically two red zones with good possible movement inside the bigger red zone for decent trades. 1) 64.10 - 32.73 2)63.67 - 63.21 there are some mathematical upper targets and then some prior down side targets, will watch so see if we are going back to yesterday prior range or pushing new...
Crude Oil is reaching a selling decision point. Wait any reversal candlesticks or reversal chart patterns or any divergence of any oscillator indicators.
The action in oil is small range inside and balanced with little directional bias. With a bigger down side directional action inside a bigger consolidation. This means I remain in a back and forth mode until the first blue line targets are violated. And a small directional bias when the red zone is violated, but remain looking for a long bottom of Red and short...
For the last trading day of 2019 not looking for a lot to happen, and as long as oil remains above 60.50. I remain bullish on oil however for daytrading we have a 60.50 and 61.50 range that could be just back and forth.
Increase of 12 percent since start of December.Crude oil futures price is bullish steadily. I would like to wish all of traders a happy new year and happy trading in year of 2020. Find a method that suit your personality. Feel free to message if you have any difficulties in trading.
all action is long and looks like for now that will continue as long as we remain above 61.90. and early on will be looking for a pullback into that area and ten on bullish action will take the long side of the trade. In the event that area does not hold will look for a short down to 61.5 area.
weakness of an uptrend. waiting for a divergence in RSI before taking any short trade.
After one more step up oil balances again, watch red zone and if they break will work for nest upper or lower target. Bias is long but could be getting a bit extended in the short term.
today I am not expecting a lot from oil, so be ready for me to be proven wrong, the red zone has smaller targets if it break. If no break will just trade oil back and forth.
Use this as a guide to develop your setup. Main items we can see on the 4hs chart: a)The price is inside an Ascending Channel (Major Structure). b)Currently is against the upper trendline of the ascending channel. c)As we can see on the previous behavior of the price, we expect it to start. a bearish movement towards the lower trendline of the channel d)On the...
today we look to be balancing at the bottom end of Fridays action and could be signalling for further down move and if the red zone bottom breaks I will be watching Friday's low for bounce or rejection. A move upwards has many top side target taking us back to the recent highs. Not sure how much action this week brings but could be interesting action or very dead.
Oil is still working on this balance zone and I will trade the sloshing bath tub water until it breaks out. There is not a lot else to say at this point
Oil is again range bound with a smaller range and then a bigger one ( first blue lines- important) the range trading remains valid until the first blue boundaries are broke. and the red zone will pick the side i bias towards.
After hitting the first higher target yesterday and then pausing the up move, Oil is now testing range just above prior distribution. The important level to watch today is Red zone low, if we go below I would expect us to find balance in the 60 area. In the event we remain above the red zone low then a revisit of the highs and even to next target is most probable.
Oil keeps pushing to the up side and has a nice possible bullish formation, so will be watching a break to the red zone for direction from here. a move back into yesterdays pricing should see a fast move to 60. A trade is there based on the red zone break.