Here we are tracking a large swing to the downside in oil. I would like to fade the highs here and target the range lows (see attached idea for those wanting to target 45 in the coming months). This idea is for the coming sessions as crazy as it sounds, we have some monster moves coming on the demand side. The ECB confirmed the slowdown is real and the FED are...
Based on Fib, Crude Oil will reach $60 this month. No immediate bull trade as current price is far away from stop loss
This is the first time I have charted Nat Gas on Tradingview so we are starting with a blank canvas. We completed a large 5 wave sequence in the first quarter of 2016 and have since bounced in what has been a corrective ABC. This has clearly completed and we are looking at a very aggressive rejection. Support at 2.3 / 2.5 is approaching but the sustained...
Hello everyone! I am student and want to trade a little with my savings so that I can learn the basics and have my burns early. I was always fascinated by the graphs and technical analysis, but I would not consider myself at all proficient at it. Nevertheless, I do enjoy taking the chalk to the charts! TA always felt like a method of minimizing uncertainty,...
Rise in USDCAD is long term trend. If a global deflation slow down hits and oil falls, then USDCAD is a long term long. $USDCAD #USDCAD
Crude Oil appears to be setting up for another run up in a continuation of its rally since the fourth quarter route of last year. A Minor Pivot Stack is in place, but the price will need to confirm strength on a move through yesterday's high first. Then the Pivot Stack should provide a much more convincing support level. Go long if the price trades through...
Fractals or not really a thing in this market, but i just had to show this one because it looks so similar. I remember back in Sep/Oct that the last big wave up was just to bully out the bears before it would drop. This last move of the past week gives a similar feeling to me. So i took a closer look and i remembered the movement of 2018 and seeing these...
Now looks like a good time to short
The recent sell off in crude oil broke below a rising trendline dating back to 1999. Although this line has held up as support numerous times, it was broken in 2015, which lead to a subsequent fall all the way down to $25. After bears made a convincing move back below the tendline in October of last year, bulls rallied back, but were rejected at the newly support...
CL Watch the price action if the price closes below $53.06 before to sell.
Crude has another Minor Pivot Stack setup, but this time it is above the current price. Hence, this is an indication of a short trade with resistance from the Stack. With a good probability setup like this, go short on confirmed weakness through 51.26. Place a stop loss at 53.69 and the profit target at 48.15. Trade the March 2019 contract, symbol CLH2019, on...
There is a Minor Pivot Stack in place that is looking quite supportive of Crude Oil. The market has rallied nicely to these levels and still looks strong despite the recent bearish trend. With a potential profit target at 59.06 this makes for a good risk reward trade. Go long if the price rallies through 53.35 and place a stop loss at 50.48. Trade the...
A head and shoulders pattern has formed on the hourly charts for light crude futures. This marks the potential for a bullish reversal and a sustained break below the neckline could see price drop as low as $49-$49.50. To learn more about my trading strategies check out www.tradingwithkrugman.com
I think we have good odds on the long side here. Tight stop under last week's low and off we go. Once oil gets overbought again, we can trail stops in profit. OPEC will be interesting to watch this month. Best of luck, Ivan Labrie.
Getting this chart up for a long entry at $45.41, based on the 50% retracement holding at $44.68. Based on the prior scorching downtrend, really wanted to make sure that this held first. *My fib retracement tool is reversed to show extension levels* Take profit: $49.33 Stop loss: $43.75 Floor trader pivot gave support on S1 at around $42.50-$43. Someone pointed...
Hi Guys, today we're looking at WTI crude oil or CL1 on the monthly chart and right off the bat it is looking like a reversal is very close. We can see many technical indicators that point to this. As you can see firstly illustrated by the yellow circles on our chart that the $40 area has long term support going as far back as 1990 even. Price action is...