USOIL after the last bullish move hit the weekly resistance. The price created a double top formation and broke below before moving upwards into a minor channel. According to Plancton's strategy, if the conditions will be satisfied, we can set a nice short order. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure ->...
Hi guys i sharing one of my today swing trades. Crude is trading now in longterm supply zone in extended uptrend and formed triple top pattern. Because US Dollar lifting up i will make more pressure to oil. I trading this by ETF: AMEX:SCO
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...
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.
US Oil - H4 - Selling at the test of this H4 supply zone with targets down to 50 - 49 - 48 and stops above 53.20
Here I am breaking down oil and what I see to come. My bias of $54.40 still stands
USOIL after the last bullish move hit the weekly resistance. The price created a double top formation and broke below the 52.70 support. If the market will break below the 51.70 area, according to Plancton's strategy, we can set a nice short order. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly...
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,...
Due to the fall of the May contract into negative territory, oil can hardly be counted superordinate, as this is not provided in the EWT. Therefore, I have here only the last movement counters. Here it is not yet quite clear whether the final yellow (z) only the red w (here Alt. w) was completed or whether it was already completed. The 0.618 minimum target was...
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
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 - You...
Hers is what I see coming up for OIL in the next few weeks. Hope you and enjoy the video and find it useful.
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...
From my analysis using the Elliot Wave I have 2 cycles on the go. Within my primary cycle I have an extended of an extended wave 5, because of this structure the probability of an Orthodox top Correction (irregular) is very high. As you can see Waves A & B are complete on the primary cycle Wave C is about to begin. Wave C of this sort of structure has been...
USOIL Sell Setup. Gas is going to be at its current levels for awhile head and shoulders visible.
Still bearish on oil and our shorts are still in play. Looking for the decline to begin now.