The Price was Broke a R Level 58.70 So the best enter point is @ 58.90 with Re test of the level
All Trade Parameters shown on the chart. Short setup in Daily Supply. Since this post comes a little late (only created my Tradingview account on Monday) you can still do confirmation entry as described on the chart. Live Webinar link in my profil.
FX:USOIL had been retracing its bearish trend the last two weeks. It is now currently at key resistance zone. Short order set up for the following reasons: Overall trend on daily chart is down Price resisted key resistance zone at 47.00 to 47.75 (previous April 2016 to June 2017 channel support now became resistance) Forming a shooting star candlestick...
Hello everyone. I hope it goes all well for You. I have been working this set up out this evening. Crude Oil seems to be struggling and is not giving us a wild rally eventhough we had two consecutive very bullish stockpile reports. The first one that came out on July the 6th has not endured the bears pressure and session closed much lower than the days high....
Suppose 30.0... RETEST!?!? Why not? ;)
I expect crude oil to come down to the low 40's this week, I expect usdcad to move higher.
BCOUSD SHORT OPPORTUNITY ON CRUDE OIL
This is a wild ride, but we are not unhappy don't we ;-) The prior LT chart gave us a great indication about the fall. A closer looks reveal that the drop from above is the logical swing that markets do. Targets? Well, we have a couple of them as you see on the chart. See the circles? One at the A/R-Shift, and two other ones at the different centerlnes. First I...
The blue centerline was respected very good. The white U-MLH is not bad too. There is a high chance that price will meet the centerline...hoooly...how about below 25, or even 20? Looks totally crazy, yes, to me too ;-) But hey, we follow the path of price & forks. We act upon what we see, not what we wish to see...veeery hard sometimes hehe... Put context...
I have changed the placing for Wave 5 as it broke upside the previously supposed turning point. The Wave 5 now positioned has also hit an important resistance level, I'm expecting a break of the lower trendline for Wave 2 formation, once the trendline break is in place we can then look for the possible targets for Wave 2 down.
Crude seems to have given a clear 5 Wave up move from the 47 low, it seems that it is in a corrective phase now and is most possibly moving as an Irregular Flat Correction. If it is actually progressing as an Irregular Flat then it is very likely that it will give a false breakout of the most recent high and form an Unorthodox top, it seems to me that it can go...
Good Opportunity to short Crude between 49 - 50..
Crude oil is in range 51-55. It broke all uptrend support lines and now new bearish wave is coming. TP1 51
Crude oil short setup 2H TF downtrend line Target 53,12
Soon we have two possible action on crude oil on this week arroung the price of 55,15: 1) More possibly "a shooting star" appears getting bearish action toward 46,00 which would be a bottom or reversal price for bulls again. Bulls on crude oil during the summer is favorable for OPEC countries. 2)Less possibly crude oil price stays above 55,15 in daily candles and...