WTI remains above the key range highs and with the 4hr chart forming a bullish engulfing candle
we could look for a long opportunity. Targets for oil will be back at $66.00 but this has the potential to
move much higher.
Midterm forecast:
While the price is below the resistance 66.50, beginning of downtrend is expected.
We make sure when the support at 55.20 breaks.
If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI support #1 at 43 is not broken, the probability of price decrease would be too...
BUY & SELL Above Given Chart or
You Can Also set Own Risk reward.
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
Little too early to make a call, will update through the week but we do have an entry zone... just have to see what happens.. let me know what you think
Oil prices rallied the last few days.
The uptrend line has held and so has the 50 day EMA and the MACD. I see a good support around 60.6 and resistant around 65.
At this point, I see oil prices breaking the resistant.
Any pullback should be a good opportunity to buy as soon it doesn't break the support.
EFC Indicator is based on a RSI 20/80 level rules
EFC Indicator finds the last 50 candles fractal low
EFC marks entry point of breakout of that fractal low's high
Stop Loss and Take Profit are set at a 1 x 2 risk reward ratio
I added Williams %R (10 period, -10,-90, hort. line-50)to act as a confirmation of a good bearish downward move
Price and %R are...
In such situation, we can open entry near the border of outside candle $62.93 or $60.02
On the next chart, I will show you the best options to open entry
1st. Buy, if the price will break up key level 1-hour candle will close above as confirm
2nd. Open Sell if the price will fail to make up move and 1-hour candle will close under the key level...
Midterm forecast:
While the price is below the resistance 66.50, beginning of downtrend is expected.
We make sure when the support at 55.20 breaks.
If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
A peak is formed in daily chart at 66.50 on 04/23/2019, so more losses to support(s) 60.15,...
Well today i have some bad and good news. Which one would you want to hear first? I guess let's start with thee crappy news!
I somehow missed a 500+pip bearish move on oil. Like who does that? Anyway, it is not totally a bad thing. Because the good news is that it has created some nice structure in the market on which we can base future trades. My bias on oil...
Midterm forecast:
While the price is below the resistance 66.50, beginning of downtrend is expected.
We make sure when the support at 55.20 breaks.
If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
A...
GOLD has broken the descending trendline, becoming a save haven for investors during the unstable economy. Anticipating this tendancy will keep pushing gold higher for the next few months.
Hit the like & follow if you enjoy my ideas :)
Midterm forecast:
While the price is below the resistance 66.50, beginning of downtrend is expected.
We make sure when the support at 55.20 breaks.
If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
A...
If you are a bear on oil this could be a good opportunity to short price is at resistance.
However it a risky trade because of geopolitics (Hormuz strait).
SL above 63.80 first target 62.60.
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