Trading Signal
Short Position (EP) : 2.1399
Stop Loss (SL) : 2.1586
Take Profit (TP) : 2.0669, 1.9916
Description
RB formed Double Repo Failure Sell at 1d time frame. Trade setup with Sell Limit at 0.382 Level (2.1399) and place stop after 0.618 level (2.1586). Once the position was hit, place take profit before an agreement (2.0669) and 1.9916
Money...
In scrolling through the intra-day charts, I came across a rather bearish looking pattern being painted by the algos.
This caught my attention and warranted further investigation - What I found was a confluence of bearish indicators that argue for making a short bet here. Lets take a look at the evidence.
1 - The COT report as of 10/3 shows that Commercials...
Remains to be seen - something to watch over the next two or three trading sessions. Fib levels are natural S/R zones and can be used as targets/entry and exit points moving forward. Until it makes a confirmation with price, we watch and wait.
Heating Oil this week broke above its 2 year high. The move was confirmed with a strong day's close above the high, and now the weekly bar is closing above - N.B: provided that Heating Oil holds in today's session.
Seasonally August & September are strong months which lends another dimension to a pure chartist approach.
Here is the setup:
1 - Commercial Traders net position ranks 92% on a 18m basis - They have been buying heavily into this decline. Trend following Hedge Funds on the other hand score a very weak 21% so they are still extremely short even after this 30 cent wipeout. Once the technicals start turning, their algo's will be covering to lock in the sizeable gains on...
Crude oil contract has not gave us a signal yet as NY Harbor ULSD has.
We looking to go short here.
$5,178.60 / Contract profit potential
$4,125 initial margin
Good opportunity to sell some upside calls or call spread, above 1.60 strike for sideways or correction lower IMHO
Targets on downside middle BBands and lower trend line (orange).
(Time frame next 5-10 trading days)
TOP-DOWN ANALYSIS
H4: We have started to turn back from h4 supply zone
H1: if 09 hour can manage to be closed lower than 1.4805 line, H1 will have been created too
15MIN: There is an original 15min supply zone inside of a potential h1 supply
TP1: 1:1 R:R
TP2: Trail till just before H4 Support
TP3: Trail till daily demand zone
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H4 : there is an H4 supply zone formed
H1: and inside of that there is an H1 supply zone too
15MIN: there is an original 15min supply zone inside of an h1 supply zone
which means that there is a high probability of 15min working out
TP1: 1:1 R:R
TP2: i will be trailing till opposing H1 support
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H4, H1 : Currently, price is reacting from H4 and H1 zones
that means watch for LTF(lower time frame) buying opportunities
5MIN : Just created an original demand level as a buying opportunity
TP : be loking for a quick 1:1 ratio. No need to be greedy on such a small time frame
Good luck to all!
DAILY : we are currently consuming the daily demand by basing inside of it
H4: we just created a new h4 supply zone just above and
H1: there is a h1 original supply zone too.
TRADE: i am planing to get short at h1 supply zone as shown on the chart.
Heating Oil (futures). is ranging in a symmetrical triangle of corrective waves pattern. from the diagram above wave (b) retrace 0.886 of wave (a) @ 1.6640. wave (c) retrace 0.618 of wave (b) @ 2.0518. within the triangular range is we expected to see wave (d) to retrace 0.886 of wave (c) @ 1.7139, and wave (e) to retrace 0.618 of (d) @ 1.9416. however at the end...
Heating Oil (futures). is ranging in a symmetrical triangle of corrective waves pattern. from the diagram above wave (b) retrace 0.886 of wave (a) @ 1.6640. wave (c) retrace 0.618 of wave (b) @ 2.0518. within the triangular range is we expected to see wave (d) to retrace 0.886 of wave (c) @ 1.7139, and wave (e) to retrace 0.618 of (d) @ 1.9416. however at the end...
