Here is the oil breakdown video. I go into a rant which I am sorry about but the lack of trader psychology and close mindedness when it comes to market pattern set up annoys me deeply.
Hope you guys enjoy.
Oil Long Position
TP & RR: $54.12 (2.49)
Stop Loss: $52.76
REASONS FOR THE TRADE
If you followed my trade idea from yesterday, then you should have an open short position at $53.55. I was expecting a lower high, but instead, the price formed a double top. Our SL wasn't hit.
Anyway, I believe a new uptrend channel has formed and in order to...
Oil has started to form a double top around the $53 region with a key fib level of 0.786 @ $51 being broken recently and the price will most definitely return back to it. I'm anticipating a big drop, either immediately or via a delayed move back down to the 0.618 fib via H&S which if broken could see a drop to the 0.5 fib @ $32 acting as strong support. With the...
WTIUSD or Crude Oil or USOil Long Idea from our strong Support Level.
Trading Levels : »53-52 | 51-50 »Risk=0.5point | TP = 54.5
Fundamental Imp—As predicted more stimulus talk $1.9 Trillion by Biden push OIL in bull mode from our levels, next TP=54.50/56.00
PREVIOUS RESULT—Enjoy PRECISE LEVEL1=52.2 to 53.8=1.6point gain=24hrs
Considering it's Friday today, I decided to post a general analysis on Oil as opposed to a specific entry-target-stop loss idea as I usually do. I refrain from keeping positions over the weekend as a lot can happen and I don't want to be overexposed. So, if it's not a setup that I feel very confident about, I rarely open trades on Friday. With that being said,...
Even though WTI Crude Oil is still bullish on higher timeframes, it started to become bearish in lower ones.
Buy and Sell Signal forecast on 3 timeframes:
Sell on 1 hour timeframe
Sell on 7h timeframes
Buy on 3 days chart
If you are interested to test some amazing BUY and SELL INDICATORS that i use, which give the signal at the beginning of the candle, not at...
In short I went through the entire pattern since 2009 once more in great detail and what I found is not exactly good news.
I am confident that what we are looking at since April 2020 is an ending diagonal Wave E.
In the short term I expect price to come back down to test support around 43.73.
I do believe we are going to start seeing this wave begin to contract...
So oil is coming up to our shorting region, due to this I have done a technical analysis video for you all to watch.
This video shows that trading is simple but only if you keep it that way.
-Use previous price action and market structure to create set ups and opportunities
-Use higher time frames to get the full picture
-Keep the charts plain and simple
In this video I effectively lay out the past, present, and future waves in a concise manner.
Using the very latest AriasWave knowledge I am going to help you trade this last move up.
I am also going to help you short at the top once we get there.
These are exciting times and exciting trades but you must be patient.
Please LIKE and FOLLOW to get...
Quick update on usoil...
We are still pushing higher as predicted and looking very like to come to our short region...Due to the bullish candles I have highlighted I believe this will come through in a few days time.
Big things to come for 2021 so follow this page.
Called this lovely long last week. I stated a drop in oil would come back towards $47 as this was major support and once this had happened we would carry on towards $50 which we have done perfectly. I am bearish on oil for the start of this year due to the continuation of COVID. I could see oil picking up in Q2/Q3.
I believe oil will start ranging for a while...