Seems like this pair will offer a perfect short opportunity anytime now. As depicted in the chart, we can see that price reached a critical resistance level after completing an AB=CD pattern from the low to the sideways correction start and end. I'll post if I find a good entry opportunity with good risk/reward ratio asap. If aggressive, you can short now under...
i think like this , in this area time, we can think about short crude oil . but this sort is not so heavy . tnk
Still respecting LT support levels and is on course to close the month in a bullish engulfing candle. Lower term charts has sen Crude break out of its range. As long it stays above $54 then there is scope for more upside, potential towards $75 in the medium term.
1. Bearish candle stick formation on 1h chart 2. KD on 5 min chart (momentum/price divergence) Go short towards missed daily pivot below, maybe even retest of important level of 54.00 (proved several times to be resistance) Target 54+, SL: 57.00
Crude Oil is at the same technical juncture as many Dollar correlated assets. It has been ranging since the start of the year with the Bears desperately trying to make headway to the downside but have been thwarted thus far by Crude Oil Bulls. A few temporary excursions below 44 have resulted in neck snapping whipsaws and currently the technical picture in Crude...
Oil looks bearish here on a macro timeframe. It broke down through the upward macro sloping trendline around Aug. and then thru the 50 dma in Sept. and has been in a downtrend ever since then. The fast decline and bear mkt. caught many by surprise. Oil is currently showing a macro bear flag pttn. w/ tgts. being in a range of 27-16 lvls. depending on where you draw...
Crude(25.03.2015) broken downside & traded lower towards $43 mark as mention in our last analysis. However the recovery was quite sharp to resistance zone once again. Now crude is trading around $47.50 & as we can see on charts, its approaching to the broken tradeline of last symmetrical triangle pattern. This recovery seems to be a corrective one due to less...
THAT'S TRADING...we were looking for a pullback that didn't happen and our rules say "No Trigger, No Trade" and we didn't get a trigger therefore we are not in this move. Does it hurt...YES! But discipline pays and with discipline you will miss some moves. If you are short CONGRATS! Be sure to take some profits and move stops. $41 is approaching fast. We are...
After the previous successful bounce from the PRZ, Crude is back again in the interesting zone. Just a small reminder for the bullish monthly pattern I posted here 3 months ago.
Crude respects daily BBands the best - oil traders are very technical! I would have liked to go long here, but I was really expecting a more aggressive sell. In any case, want to have it for the record that CL will go up from here.
Crude has broken down and we will look for pull back triggers to get short. We will look for crude to visit the 41 area. REMEMBER: NO TRIGGER, NO TRADE
Crude (10.03.2015) fall more than 60% in last 6 months & now consolidating in tight range , probably looking for another big move. Crude is trading around $50.80 & as we can see on charts it is trapped in a range & producing a symmetrical triangle pattern. Generally these patterns appear before a big move & provide a either side breakout in 50-75% length range....
Crude is still bouncing around and not finding a direction. Stops are building just above the 54.20 area. If we take that out we will most likely see a nice move. In the mean time we sit on our hands and wait for a good setup. Nothing yet. Keep on the watch list.
with alternative scenario Global picture Steel in wave (B) of fave 4
Short Crude oil Brent to near 52 and then maybe we go to new high. Global image, wave 4 in V of (V): i.imgur.com
We were hoping for a CL break to the upside over the last two weeks but we got nothing. It's been chop city. We will be very cautious with trades to the downside. So we will sit on our hands with Crude and wait for something to setup.
Tomorrow we have two key pieces of news that will be released, which can affect the direction USDCAD will favor. I'm looking at the triangle at the top, and the current triangle in Crude\s 4th wave (if my count is correct). There is no clear setup yet, but it might be worth watching to see how the market reacts to both Stephen S. Poloz's (Bank of Canada's...