This chart is really interesting. USD/CAD faked out of this weekly trendline, with CAD weakening as BOC stated they are leaving the door open to near term rate cuts. This could see continued CAD weakness in the coming week and lead to prices testing the key 1.3580 level to the upside. Our overall bias is still short so we see a triple top forming at the .50...
We are either in the midst of an ascending triangle or a rising wedge . A break above 54.50 means we have been in an ascending triangle and we are going much higher. A break below $52.50 and then $48 means we were in an ascending triangle and we are going much lower. Either way we are at a breaking point and should have an idea in the next 2 weeks where we are...
inflection point This study is not complete, and it is not intended to be yard art, but I lack the tools on my TV to better illustrate for now. These few days should demonstrate the idea. While looking at the ytd overlay of wti to Dxy, I found that the overall pattern in sync with wti. When reviewed at 15min I could see a direct corresponding pattern in wti &...
We have been following oil for long now. THe 50 moving average is crossing the 200, under a key level and after a lot of bearish momentum. It is a great opportunity to sell if we see some kind of retrace anf mini flag formation. Trade save guys!
This could happen during API numbers if you ask me
Will short if it drops to 52.32. My Target $ 51
This one should be fun, let's see if I get my bias right this time apart from my entry. I learned something new.
Long Oil For Intrday. Good Risk Reward
Will SHS be created? If price hits support level, we will have a clear opportunity to go long. Now its time to see how the price develops.
USOIL is tough to predict in these sideways corrective waves, however there are some knowns based on wave structure. The most potential outcome based on recent structure is further downside. A bearish impulse off of recent highs will solidify the speculation and garner a potential short. Keep an eye out for a drop. Happy trading
This trading idea is based on the daily chart of WTI and technical tools like trend lines and support/resistance levels. We can think about possible price action and find entry levels for future trades. The price bounced from the uptrend line and the support level. It can be a good entry level for long trades with target at the resistance level 56.00. Stop orders...