Trading Signal
Short Position (EP) : 62.47
Stop Loss (SL) : 62.99
Take Profit (TP) : 61.43
Description
J26H2019 formed Double Repo Sell at 1d time frame. Trade setup with Sell Limit at 0.382 Level (62.47) and place stop after 0.618 level (62.99). Once the position was hit, place take profit before an agreement (61.43)
Money Management
Money in portfolio...
Taking another stab here at picking a bottom in oil. Midpoints are difficult to decipher in such drastic sell-offs but if you catch the bottom we'll be well rewarded with an inevitable massive short squeeze. Regardless, this is def a high-risk trade. The relentless sell-off seems to be heavily algo-driven and major energy funds liquidating (according to rumors)...
US has allowed some countries to import Crude Oil from Iran -- not completely stopped. So a reversal in sight . Could this be the Start of Wave 5 ?? But as Equities market have started to fall, there could be a fall coming in Crude Oil as well !!
Stalking a very nice setup here on UK Oil...
Starting with the first fib anchor point at the swing high of 86.69, the yellow circle highlights a distinct candle pattern that qualifies as a midpoint (place 50% fib here). Target zone for considering the sell-off complete and consider getting long is 69.20 and slightly below.
As secondary confirmation that this...
Brent Oil is in overbought territory, likely forming a triple top on the daily chart, and retrace to test the trend line. short here with a first target around 70 and second target at 60.
CRUDE OIL: Sees Further Upside, Eyes The 70.41 Region
CRUDE OIL: The commodity faces further recovery threats following its higher close on Wednesday. On the downside, support resides at the 69.50 level where a break will expose the 69.00 level. A cut through here will set the stage for a run at the 68.50 level. Further down, support resides at the 68.00 level....
Retraction can be expected up to the support channel where OBO is formed in the log.
Another important factor is the significant decline in long positions in oil contracts over the past two months. According to CFTC data, long positions in futures oil contracts have experienced a decrease of about 40% since April.
My analysis is not an investment recommendation,...
Disclaimer: I'am working here just with technical analyses, this work is not include fundamental trends analyses, only few words and mathematical analysis.
Here is my thoughts of current oil price movement.
Last week was pretty good for a price, can we expect to downtrend for next week or next 2-3 days ?
In my opinion there was first try to leave channel...
