Parameters : Position Size : %1 Risk/Reward Ratio : 3 Stop-Loss : 34.024 Goal : 37.593
With US and Saudi Arabian cooperation, likely Crude oil will be taken to approx. USD$10.50/brl. The Saudi's can produced for US$7-8/brl. Higher political agenda, means it will be pedal to the metal for Saudi Arabia (13 million brl output maximum from April), to eliminate Iran once and for all.
Using a 3x ETF to long crude oil, playing this bullish retest, if a bit sloppy, of both trend and leveling, picking up here for a high r/r buy spot. No time constraint, but will cut if no trending to upside by EOQ1. Orange horizontals are daily gaps, yet to be filled.
Looks like Light Crude Oil is holding at resistance. If the market breaks and closes below the counter trend line, could be a nice short trade towards support
Today is 14 Sep 2019. The largest Aramco Saudi oil processing plant was attached by drones. CL is currently at 54.85, next targets up are 57.00, 58.47, 59.94, and 61.40. If it can break above 62.87, next target up will be 67.27.
Here's the results from my statistical analysis for Light Crude Oil Futures (CL) on the weekly chart. LIGHT CRUDE OIL FUTURES (CL) STATISTICAL RESULTS DATES: 02 Sep 19 / 06 Sep 19 CLOSING BETWEEN (at 06 Sep 19): 52.70 - 57.28: 71% 50.41 - 59.57: 94% 48.11 - 61.87: 99.50% P.S. This indicator is not for sale and will not be published. DISCLAIMER:...
Triangles, Descending Triangles, Ascending Triangle and Ranges are repeatable trading chart patterns. Triangles and ranges are consolidation chart patterns that can breakout either direction. Ascending and descending chart patterns will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the...
During several trading sessions there is an accumulation of positions with a pronounced lower limit. It is recommended to enter the purchase from the lower limit for the specified purpose.
Step 1 Price breaks below cloud Step 2 Blue line crosses below Red line Step 3 Buy at open of next candle Step 4 SL above breakout candle Step 5 TP when Blue line crosses above Red line
Once price reaches the Supply Zone (SZ) at 61.06, I expect a drop down to the next respectable Demand Zone (DZ) at around 57.86. I'm prepared to bail out at the first target (T1.) at 58.79. It says that price is up-trending but on the Daily it shows that it is actually down-trending.
The Light crude oil prices hit 2019 high level on Tuesday. The surge was attributed to the US sanctions against Iran and Venezuela crude oil exports and the OPEC supply cuts. As for this week’s trading sessions, it is likely that the LIGHT.CMD/USD pair retrace down towards a support line formed by the 50-hour simple moving average at the 60.03 mark. If the...
The Light crude oil prices have continued to appreciate in a medium-term channel against the US Dollar. The 50-hour simple moving average has pushed the pair towards the $60 mark. The LIGHT.CMD/USD pair is trading near a resistance level formed by the weekly pivot point at 60.18. If the weekly PP hold, a possible pullback towards a support cluster at 59.21 could...
The Light crude oil prices have depreciated about 4.66% against the US Dollar since last week. The pair reversed from a three-month high at 57.81 on February 22 and had since breached the 50-hour simple moving average at 56.18. The LIGHT.CMD/USD pair tested a resistance level formed by the 50-hour SMA at 56.18 during the morning hours of today’s trading session....
The light crude oil has been appreciating in an ascending channel pattern against the US Dollar since the end of December. The commodity bounced off from the bottom border of the channel pattern at 42.44 on December 26 and followed by 19% gained. The LIGHT.CMD/USD breached the 200-hour simple moving average at 49.78 during the end of yesterday’s trading session....
WTI is a chart that you really have to double check your price feed. If in doubt, don't trade. Fantastic Reward:Risk for this trade setup, actual stops and targets will be sent to my subscribers. If you miss all the nice trade ideas in last year, don't miss it again this year. forex100academy.com
EXPECTED TARGET SHOWN IN CHART
M PATTERN THUMB RULE FOR TARGET ACHIEVED NOW IT MAY CONSOLIDATE OR REVERSE