Just posting it for my reference if this will be successful short. I'd be glad to hear comments as I am still on my learning phase.
Monthly fib -27 completion Monthly supply area where it tanked from to zero Pull back needed for wave 3 up. Target 50.00 or 5000 in this cfd chart.
We are in the area for a short so go to a lower timeframe and look for your position
If this can break the support level we are currently at this could have a big fall. IF it does break then we can look to short with a target of 49.30. I have been looking for this to have a big correction for some time. Other key target levels are at Fibonacci levels 0.382 and 0.5 which also align with key structure. First we need to break current support though...
Oil Lower High - Short Order Entry: $53.55 TP & RR: $51.05 (2.38) Stop Loss: $54.60 REASONS FOR THE TRADE Oil has entered into a bit of a range recently, but the formation of the lower high on Friday makes me think that we are about to see another lower high, which should then form a lower low. This is where we will be looking to take profit. The Stop Loss...
US Oil - H4 - Selling at the test of this H4 supply zone with targets down to 50 - 49 - 48 and stops above 53.20
Oil Descending Channel - Short Position Entry: $53.16 TP & RR: $51.61 (2.77) Stop Loss: $53.72 REASONS FOR THE TRADE Similarly to my previous trade idea about SPX500 from today, I am placing an alert at $53 and I will be patiently waiting to see how price action develops. You never know what's been going on in the traders' and investors' heads over the...
oil prices maybe on the road for another bottom in 2021. ATH possible in 5 years possible due to massive demands followed by a robust economic recovery .
Oil Short Trade Entry: $53.76 TP & RR: $52.41 Stop Loss: $54.51 REASONS FOR THE TRADE So far Oil has respected the channel and I believe that it is now reaching a point of exhaustion. This upper trendline from the channel is also in confluence with a fairly strong resistance level, so I believe a small pullback is due. The Stop Loss is well above the...
USOIL Long Order Entry: $51.04 TP & RR: $52.49 (2.54) Stop Loss: $50.47 USOIL Short Order Entry: $51.50 TP & RR: $50.01 (4.14) Stop Loss: $51.86 REASONS FOR THE TRADE As you can see I have mapped two potential trades here, but since the first one is Long, that's the center of the analysis here. What we see is an ascending triangle in an uptrend, so I...
USOIL (WTI Crude Oil) SHOST SETUP IDEA Entry: $50.94 Stop Loss: $51.82 TP & RR: $48.39 (2.9) REASONS FOR THE TRADE So far Oil has respected the channel fairly well and I am expecting at least some pullback (best case scenario reaching the lower trendline). The Stop Loss is set at a good distance, so generally speaking, a small fakeout shouldn't trigger it....
Just listening to my chart here and also thinking about lockdowns and their impact on crude oil consumption I use 4 take profit levels. When first take profit is taken I simply move the stop loss to zero (entry) and wait to take another 3 take profits lower, if possible.
Hello, receive a cordial greeting, you have the oil analysis at your disposal in the short term, you have marked supports and resistances. Oil rises almost 2% and hits the highest since February awaiting the OPEC meeting. Kind regards, Happy New Year !!! L.E.D In Spain on 01/04/2020
I'm currently short on Oil by shorting GUSH and longing the inverse DRIP. Besides global economic uncertainty, the markets are still showing weakness and not showing any signs of recovery. Also on the 2 day chart, every death cross or green dot shown on my indicators has always resulted in a massive dump.
$USOIL had established a descending trade channel. It has since recovered somewhat, but only in the sense that it has established a less-severe/drastic downward trend within the new trade channel outlined. OIL is definitely something that we see a SHORT on. While the market overall has enough bullish indicators, OIL topped out at an unrealistic value and the...
$USOIL and $SPY have the same bearish looks with the notion that this top out cannot last. Oil has stagnated already (slightly upward tick but overall very "sideways"), while the S&P closed with a strong rally--and with what nearly looks like a GAP... The reversal may not happen Monday, but this trader projects it to happen by late next week or early in the...