From the previous analysis I analyzed as oil could bottom at 75 dollar.
However it broke my resistant and stayed at 70 dollar point.
Even the oil broke my resistant line. I kept my bullish analysis because it didn't show any major bearish pattern.
I personally confirm that recent bearish move was just a fake one.
I adjusted my bullish target to 90 dollar...
Hi,,,
Today I would like to talk about LONG TERM TRADE and GAPS on 1D chart for WTI (West Texas Intermediate):
1) 1D CHART is NOT for everyday trader (it's NOT for everyone - it's pretty much for MILIONAIRES) and on LuxAlgo the candles are all PURPLE ---> so nothing IMPORTANT is happening.
2) EVERY GAP MUST BE CLOSED SOONER OR LATER ---> THIS IS HOW THE MARKET...
In this week’s case study, we analyse a long position on Micro WTI Crude Futures (February) with a potential target of $82.30/barrel and a stop loss at $67/barrel, yielding a reward to risk ratio of 1.15.
Last week, we delivered a case study with a short position on WTI Crude Oil futures with entry at $77.80/barrel and exit at $73.65/barrel. This worked as...
hello everyone.. last 2 week we had good bull run for usoil... but as soon it reached 82 the price starts consolidating, like in 4hr tf the price test 82 several times.. however if we look at weekly tf the main resistance is around 84-85.. at this point the price can trick the seller... overall i think its a bear trap (still LH & LL).. the resistance trend line...
Let's look to Wti.
It moved up in the past weeks. But I think that trend is weakening and downside movement is possible soon.
Because, Crude Oil is reaching to strong level - 83.83!
What should we do in this case?
1. Place sell stop order at 81.52
2. First target is 76.98
3. Second target is 73.16
4. Stop Loss is necessary at 83.50
But if it will continue...
With this analysis, you will be able to find your most profitable trade. EnclaveFX does not recommend that you buy or sell this assist. We do not take any responsibility for your profits & losses. EnclaveFX believes in enhancing the knowledge of our clients & followers.
Since December 2022, the price of West Texas Intermediate crude oil has been moving choppily between $70 and $83. Currently, one barrel trades near $77.50. We continue waiting on the sidelines for the market picture to clear. However, we are still unconvinced by bullish scenarios for oil, forecasting a return of $100 and above. That is because we already see a...
I believe oil will drop after taking out buyside liquidity. It needs to take out the sell side liquidity. Target is 71.80 where we can start looking for buys. Proper risk management is highly encouraged. All the best
USOIL WTI H4 This Week Trade Setup, Oil Price will be 1st Touch Channel Middle Point than come down and 71-70 area, if Middle point Breakout so oil target channel upper point, after channel middle point to crash down we will buy from 71-70 area, i will update my tg channel. thank you
Monthly Chart : Prevailing macro sallow bearish channel in play.
Weekly Chart : Breakout of weekly bullish channel in the corrective phase of the market structure.
Daily Chart : Double top intermediate pattern formation within the bearish channel.
4H Chart : Asymmetric expanding mini triangle pattern, with impulse breakout of 1H chart bullish...
