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CL - Crude reached it's balance - what now?As we see, price reached the Centerline, which is Rule Nr. 1 on ForkTrading: "Price reach the Centerline over 80% of time". OK, but what now? Energies move from balance to extremes. This means, that price will either drop to the L-MLH, or trade through the Centerline and towards the U-MLH. Since we don't know what will go on from here, how about to take both sides? Wait...trading Long AND Short? Jep! Follow me on my trading blog (see footer) and see how I'l will plan this. P!
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by Tr8dingN3rd
Crude oil AB=CD Bull pattern >> final bear legIt doesnt get much easier than these! USD or DX is our price driver but the pattern remains none the less. Price target is $62 for profit taking, then hunting for dbl bottoms or unusual fundamental shifting in crude to spot the support reversal above $62 If anyone new to futures is playing test or real funds also look into trading 1 mini crude contract. Its much safer to hold and wont destroy your account. NQM is the mini crude ticker. cheers!
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by j_nathan
Crude Oil Short_CLG18_Wave&Fib Analysis_Strategic entry desiredEvening traders. Crude oil appears to present the best pattern for swing trades on this 4 hour chart. Like EUR/USD and DXY, they are at the end of 5 wave impulse pattern. Next step is to complete a three wave correction which should take us between wave 3 and wave 4. That being said I'd really like to see price push back up to the strategic entry labeled on the chart. Price has rejected the level once already. I had not developed the trade theory at that point or that would have been a perfect entry. That move only stands to influence our confidence in this setup. It is proof of overhead resistance and new found downward momentum. I feel comfortable taking the aggressive entry to be in this market. I'd risk 2% (1 contract) at the aggressive entry and 1% (1 contract) at the strategic price. 3% total position. This way I've got low risk if price shoots up and fills the strategic entry and runs to the stop, but I've also got enough skin in the game to be content if this pattern plays out. (Obviously futures contracts are not able to determine percentage risk, so I did single contracts instead. I will be trading with ETF) Goodluck! IF you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: Nymex data shown. This is NOT investment advice.
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by UnknownUnicorn981629
CL - Crude overviewHere you see 4 different timeframes: Quarterly (Upper Right) - price reached a natural resistance level, where a break is expected Monthly (UL) - the quarterly natural resistance level, mirrored on the monthly has confluence with the Centerline. Price reached the Centerline a couple times now. If we can't crack the Centerline, then price will fall back, at least to a quarterly natural support level. Weekly (LL) The weekly Fork gives more insight. Here we see that there is more room to the Centerline. But as we know, markets breathe in and out. So a pullback to the weekly levels would be no surprise. From there, a further attack towards the Centerline would be expected, because this slope of the Fork is different then the Weekly! Daily (LR) Crude cracked the last days high and is falling below it, as of the time I write this analysis. Potential levels are the weekly and the L-MLH too. Depending on your trading timeframe, you know have a lot to go through and many potential levels to trade off. Consider the footer of this analysis to learn more. P!
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by Tr8dingN3rd
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