I am not sure which way oil will go. Here our both long and short scenario. Take appropriate trade when break of long entry or short entry is broken and confirmed Please give thumbs up if yo like my idea
As we see sector rotation and interest rates rise crude continues to climb, we still have huge resistance above us that we must break. Here are my two paths for crude futures going into next week. It will be important to watch this closely, a breakout of the upper trendline could cause historic rallies(Path A, red). However, I do believe we never retested that...
You see that price made through big resistance. Now maybe matter of time until target one. Possible big another Drop to next target where no major supports. This be continuation of my previous ES trade. I come very close to stop out several times. But now in good profit. Now I let t run.
Should not break to the upside here... but it's a very strong trend so it might. Would be nice to see crude plunge however.
Oil Futures CL1! up trend range +volume + big wick + VWAP .. end big volume green
Here you see long trend resistantant since 2008, and up trend support since 2019 Dec. Also ascended triangle. And now recent gap fill which now act as resistant. I am going to add more short on retest of this resistant line. Here is my setup: second RR grid is my second entry.
I know gap not fill yet but I feel this is exhaustion gap. So even though I do not like to taking trade before gap this might be exception to rule. Look at volume on big candle after gap. This is good sign. Also indicators overbout, and though this can stay for a long time I think ready to drop.
> Very strong momentum higher >> Past two weeks have had 9/10 green days > Previous weekly value area: 57.75 - 58.75 w/ POC at 58.33 > Friday built a HVN above the weekly value area between 59.30 - 59.82. >> buying the lower end of this area early in the week could offer good r:r if the market doesn't get any real pullback. > If we do get a pullback, it will be...
I will add the why I go short in just a while. But for now I enter gold short at 1825.3
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I would expect a major pullback from 55 area. For educational purposes only.
Quick note to pay attention to Weekly and Monthly VWAP - the markets clearly do. Ironically the least important VWAP was the daily in todays chart.
UKOIL Brent (Gulf oil) is still to rise. Monthly ATR is is 107 pips. And this month we did only 39 percent so far. I believe we will end the year at 54.33. But there will be BIG reaction at yearly low 52.28 from where price released in March. I would exit there. Close with daily bearish candle below 8 daily ema on daily chart will be a signal of trend...
After a total of 130 days of sideways trading for 80 plus 50 days, crude oil started a unilateral long trend and experienced nearly 1100 pips in 38 days. The main upward momentum comes from: 1. The depreciation of the U.S. dollar is good for commodities 2. Expectations of the future economy 3. Expectations that vaccines can solve core demand issues But this is...
Once the price break the bottom rectangle; we will short heavily guys! Good luck champs
USDCAD CL GBPEUR GBPCHF GBPCAD