Crude Oil. Support and Resistance (SNR). Kampung Style. Valid on the said date only. Enjoy and feel it. Hopefully, it's useful. This is for study and educational purposes only.
It looks like Oil has now bottomed. I am expecting a strong move higher starting within the next couple of days. I have my first target above but it expected that we will easily run that target. Long bias on CL, let's go!
Oil is showing a classic rectangle bottom. This is a pattern at the end of a down trend. The criteria are. That one of the horizontal lines needs to be touched 3 times and the other 2 times. This fulfills the criteria. Rectangle bottoms can break out in either direction. Be prepared to take a short or long position on candle close (in this case a 4h...
This is a bottom broadening wedge where price enters from above and touch the lower line first. This is usually a reversal pattern but really it can break out either way. Usually after wedge is validated-( 2 touches of both lines but ideally at least 3 touches on one of the lines)- you will see a partial rise (or fall) before reversing again. I believe we are in...
Crude Oil. Support and Resistance (SNR). Kampung Style. Valid on the said date only. Enjoy and feel it. Hopefully, it's useful. This is for study and educational purposes only.
Crude Oil - Support and Resistance ( SNR ). TF 15 minutes. Kampung Style. Valid on the said date only. Enjoy and feel it. Hopefully, it's useful. This is for study and educational purposes only.
I don’t like that you can’t see the chart that you are publishing. So it can be hard to write what I can’t look at. Or am I missing something? I would not doubt this. Anyway I will post my thoughts in an update below.
Crude Oil - Support and Resistance (SNR). TF 15 minutes. Kampung Style. Valid on the said date only. Enjoy and feel it. Hopefully, it's useful. This is for study and educational purposes only.
Crude Oil. Support and Resistance (SNR). Kampung Style. Valid on the said date only. Enjoy and feel it. Hopefully, it's useful. This is for study and educational purposes only.
These are three possible entry positions for a short. 1. Enter at top of down wedge. Pretty safe, and having a nice supply zone just above gives you an opportunity to increase position size if it pulls back to here. 2. Enter on retest of down wedge after it breaks through. This is safe but we are limiting our risk reward, but still very profitable. I would...
Here is a head and shoulders pattern and how the neckline can be used as a trigger for either a short or long position. Wait for neckline to declare itself as support or resistance. 2 possible scenarios: 1. Price breaks neckline (resistance currently) wait for retest of what would then be support to enter long position. 2. If price bounces down off neckline then...
Hello fellow traders! I hope you are enjoying my charts and analysis. As you can see from my past analyses and now this CL analysis, I am strictly a trade by patterns kind of person. Wedges, ascending/descending triangles, pennants, flags, diamonds, double/triple tops, head and shoulders carry GREAT POWER especially when combined with support/resistance and...
As previously predicted I said there would be a drop on oil and it accelerated today. Now is a good time to take some profit off the table as larger retracements can happen from here. The yellow circle is my previous post BEFORE the major move occured. Stay tuned Ninja's!
You can see the formation here of a down wedge within a down wedge (wedge gets a wedgie).this is the yellow wedge and the black wedge. This points to a bullish bias longer term. Though you can see I am a seller right now from 65.10 with target price of about 63.70. This is where the yellow and black wedge intersect. I love this kind of confluence. You can see an...
My short position in the middle is the trade I took. It triggered earlier today and took a while to start moving. If it hits my first target I will re evaluate whether to take profit or keep position.
Today, we will share what we are waiting to develop bullish setups on Crude Oil Let's understand the idea: a) Currently, the price has reached a major resistance zone. What happened before? We can see that we had a corrective pattern and then a continuation of the bullish movement towards 75 - 76 b) The corrective pattern we are waiting for has a...
3 possible scenarios. Represented by green up shade box and 2 red down shade box. So far path is following my prediction from earlier chart (see previous CL post) - green box trigger if price breaks black resistance - first red shade box triggers if price do not break resistance - second red shade box triggers if double to forms.me which would also end the...
OIL is creating numerous bearish signals and it appears as though over the weekend and monday we will have a significant drop lower. The sp500 is also going to drop on monday so maybe some news will come out about oil over the weekend that will affect the markets in a negative way.