WTISell WTI at low of Bearish Pinbar on Daily Chart.
SL: A few pips above the high of the pinbar
TP: Next weekly major resistance.
Note: Closing trade when close (New York Candle) above the daily EMA 5.
Wtishort
USOIL, It's time to short !I'm expecting Oil will falling till 39 - 38.80 which is the 4th support in 30 days.
It's because of the fundamentals,
1. OPEC countries try to cut output, but US selling there inventories.
2. US Oil inventories data comes negative.
3. US drills new rigs, so new inventories to sell because they
want to collect 16 billion doller from Oil selling.
4. Mexico sells 10 blocks in the sea for Oil.
some retracement is there
looking forward towards the supports........
OILUSD WTIOur preference: sales position below 46.28 with targets at 45.65 & 45.25 in extension.
Alternative scenario: exceeding 46.28, aiming for a continuation of the increase with 46.80 & 47.57 in line of sight.
Comment: The RSI is mixed and calls for caution.
usoil short first . what a pity .here can not use chinese.In July 2015. Crude oil has reached Andrew fork Central Line position. Rebound. But is very small. In this position again to start a sell-off. Are you ready
Excellent Crude Oil Short OpportunityExcellent Crude Oil Short Opportunity.
Trail your stops if in profit.
possible short for oil being setup?although API Weekly Crude Oil Stock is coming up today and tomorrow we have EIA Crude Oil Stock change, WTI seems to be setting up for a short in a few days... fundamentals like inventories, rigs and any announcements from OPEC members might change it
WTI's behavior on monday is criticalWTI failed to break out of the green band and chased the highs of the band. However, This could be a complex correction followed by a pretty sharp dip to breach $50.76 thus opening up more future downside. If we fail to sell-off below $55.15, expect much more upside.
OIL SHORT: Commercial hedging at multi-year highsCommercial hedging short interest is at multi-year highs - back to where it was in summer 2014 when oil topped at around $100.
Hedgers are locking in current prices as they believe they are extremely attractive in the medium term.
Speculative positions are also at multi-year highs - making oil prices prone to a downside squeeze.
WTI may have set in a near-term top and, although we could see $60 tested in the next few months, oil will continue to be pressured to the downside.
A stronger dollar, questions about OPEC compliance and weak global growth are all fundamental forces which support this view.
Short Opportunity in Crude OilShort Opportunity in Crude Oil. Good Risk Reward. Buy as high as possible
Doubled down on oil shortRSI trending down, it has yet to be reflected in the price.
I doubled down on my short friday when the price peaked, and the OPEC meeting hasn't change my mind. IMO the OPEC news was already priced in with oils run to $55, and until I see some solid statistics from OPEC and not just a bunch of words, my mind isn't changing.
WTI short - potential butterfly and deep crab patternhi guys, two potential bearish patterns near structure resistance back from December 2014. watch price action in the PRZ and trae with care.
Daily close below 17 month high, Good time to shortMarket has not closed above a 17 month high. Seems a good time to go short. Good loss to win ratio
Stop loss- 53.50
First target- 48.20
Second target- 44.06
Happy Trading :)
Last wave before low tide - Oil's 2016 highs are behind us.Been a while since updating, all looks good on Sine timeline.... Still on track for low on/about Jan20th. Purple is the wave short pattern. SineTC says price will be at significant low, and below the wave starting point at end of Timecycle. Depending on wave duration, most price drops are over 20% from staring point.
The cycles are not the Red/Green visible sine wave, the Cycle is the timeline difference between the apex of the two waves. Each wave is at different frequency. Thus you have waves at different length, from a few days to few months. Direction of wave (up/down) has no barring on this study. The wave is used as a timeline, and the offset is the length of cycle.
I expect we will run up (20th) Monday morning US on opening.. I expect this run will hold below 53.25 on the 1hr, but regardless of price I plan to short as soon as I have confirmation Monday afternoon or Tuesday AM. For now our target is 40 by Jan 20th.
We are currently short oil. See linked for more info.
Trade safe.. make money!
BCOUSD @ 60 min. Chart @ suggests price pressure until 48 USDThe big picture is still looking pretty bullish
Based on daily charts , an outbreak above 54 is only a question of time - this month or even january`17 ...
But the short term makes me afraid last 24 hours and even suggests me price pressure even unbtil 48 USD ?!
How ever the short-tmer chart is pretty bearish even under 52.500 BCOUSD
Why ??? Let me shortly excplain ...
the daily sma broked even around by 52.500
the weekly sma broked even around by 52.500
the monthly is more or less even around by 48.000
Take care
& analyzed it again
- it`s always your decission ...
(for a bigger picture zoom the chart)
Best regards
Aaron
LONG TERM OIL SHORT & USDCAD LONG: Dollar StrengthDollar strength is here to stay.
Fiscal stimulus, rate hikes, $10 trillion off-shore dollar debt, rising US yields, DXY breaking out of a multi-year consolidation zone.
The attached chart shows a strong INVERSE correlation between DXY and oil.
As the dollar strengthens, the oil price soon follows.
At present, there is a MASSIVE divergence between the oil price and the dollar index.
This needs to be corrected. Either the dollar will weaken, or the oil price will fall.
I mentioned before that dollar strength is here to stay.
Therefore, the oil price should dramatically fall.
It is temporarily propped up on the recent OPEC production cut, but should soon correct since the effect of a strong dollar will soon be felt.
Oil is correlated with CAD.
Furthermore, the Canadian economy is weak. After the election of Trump, BoC should cut rates.
Combining all of this - dollar strength, oil mispricing and CAD weakness gives us an excellent trade: long USDCAD.
Second Big wave is here.. low tide still late Jan.Ok this is a quick summary of today's trade.. I will update today and over weekend and include Timecycle Chart which this trade is linked to.. This is my daily tracking chart.
We added 20% Short @ 51.28 , will add more if we fail the trend again or collapses below 50.7x.
Manuel stops about 53.
Trade safe! Make money
