We didn't see this big of a move coming. We saw the break but expected a quick return to the wedge after getting more people short. It looks like they will squeeze Venezuela and Russia further with lower prices. August lows are a stones throw away. We will "nibble" short if we get a bounce. It will be with small size and tight stops. It won't take much to...
Yesterday, Oil ended its sixth bearish session. It is currently leaning on its 42.55 support level, which is a critical level. Oil will move downward toward 40.26, with 41.84 as a primary objective, should it breakout 42.55. Oil will have 43.57 as a resistance level, today. Breaking out this level will send it back to 44.4, with 43.9 as a primary objective....
Will 2016 be the year of Oil and manage to recover some of the losses Crude suffered during the last two years? Since I've posted here this weekly Bat pattern in CL, the price rallied and reached target 1. It created a False Break inside the small structure zone that was created inside the PRZ and now about to re-test this zone again.. perhaps a Kiss Of Life...
Keep crude on your watch list. See our last post on crude. Stay tuned
GBPCAD looks to be headed south, with a potential weekly time at mode downtrend in the making. The price action supports this thesis, and we apply the ichimoku cloud indicator, the chart comes alive. Ichimoku paints a very bearish picture, confirming my bearish bias. There is clear rejection after crossing the cloud down and retesting it. After this, price shoots...
Crude is ready to fire off short based on our signals...however she has been all over the place. We ONLY like the long side so we are looking for a false signal and reversal. IF she does take out the most recent lows and picks up speed we will PASS until we start setting up to the long side. Every time we get a dip on crude we get more suspicious of the move so...
A quick move outside of the channel was short lived. We wanted to short after a close outside of the channels but the FOMC announcement kept us away. Regardless, there was no way that we would have triggered this trade. Crude blew back into the channel and could start chopping around. We will NOT get involved in this area. We will watch Crude and see how she...
Analysis is simple, we have a bearish trend continuation trade, or at the very least a pullback in an uptrend. USDCAD has encountered massive overhead resistance and might give a great short here. I'll be hosting a webinar today, explaining how to enter this trade, and how to manage the position once in. The stop loss can be at a few different places, we can use...
Crude is testing the lower channel area. We are watching this closely. We want to see a clean break of the lower zone before look for trigger zones. Keep her on your watch list.
Not a lot to mention to this post. Crude oil is in a corrective structure with price testing a support level (watch image below) At that level price has formed a bullish ab=cd pattern which will probably push price higher. I am planning entering this market with two long positions. Stoploss and profit targets as shown at the chart. If price reaches the first...
Target on chart, you can see how the different time at mode signals work together to give us a good idea of where price is headed. I'll place my short orders now, hopefully I get a fill before it's too late. A retracement here would be terrific. Good luck, Ivan.
Researched and found a similar technical pattern to todays Crude bear market that ultimately ended the Bear and turned it into a rally. In 98-99 Crude entered a strong bear market, dropping over 50%. Market made 3 new weekly lows in that time before rallying back. In 2015, a similar pattern is being produced. 3 new lows, in Jan, April and August. A sort of...
As the correlation shows between USOIL and USDCAD, dollar cad beginning to make a new run to break highs at 1.35, thus allowing the short term bulls of USOIL to drop off and fall down into the 43 area! Price rejections at EMA therefore expecting a swift fall from here!
We are avoiding Crude. It's in the middle of the range and there is NO edge. It's coin flip in this area. We will revisit when she perks up.
Oil is about to breakout the flag, which will send it south, back to 42.95, with 44.4 as a primary objective, with 46.49 as a resistance. The flag will be rejected, should Oil head to 49.39, with 48.38 as a primary objective. The flag will be rejected once Oil breaks through 48.09. The daily Pivot Point is 46.19. The daily support levels are around 45.45 and...
Crude made a quick move and got new longs stuck which fueled the sell off. We triggered long this morning and got stopped for 50 ticks which is a win in our book. We learned long ago that a stop is the beginning of a story. This story is telling us that there may be more downside. We are technically back in the consolidation area and we are sitting on our...
We were taken out of our Crude trade today as crude had a large down day. This is why we use stops and proactively manage the trade. This is also telling us it's time to reassess. Crude is NOT broken technically and we still like the upside and will look for triggers long but now we will keep a tight leash on new trades. So what is the take away...manage your...
As we mentioned on Friday Crude has acted well. We waited for this trade and it was a nice gift. WE ENCOURAGE you to review our chart setups. You will notice we don't take trades everyday. Trading is about stalking your trades not forcing trades. The BIG money is made on BIG moves. There will be plenty of moves throughout the year so be patient for them. ...