USOIL / 1D
Hello traders, welcome back to another market breakdown.
Crude Oil traded lower earlier in the week after a small pullback bear trend.
The bears got 3 pushes down, forming a wedge pattern.
They want a retest of the June or May lows, followed by a breakout below.
The bulls see the current move down simply as a bear leg within a trading range.
They...
Preferably suitable for scalping and accurate as long as you watch carefully the price action with the drawn areas.
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CL1! is setting up nicely on the weekly time frame continunity with a hammer in place to indicate a possible reversal over the coming few weeks. RSI is sitting at 38.41 and MACD is falling. Let's watch to see when the MACD closes to show support of a continuation. The Slow Stochoctics indicator is beginning to cross to indicate a change. If nothing else we are...
In Elliott Wave Theory speak, this can be a C wave towards the 200% fib. Needs to hold the gray box early this week and start hitting targets, if the bulls continue to be in charge.
Preferably suitable for scalping and accurate as long as you watch carefully the price action with the drawn areas.
With your likes and comments, you give me enough energy to provide the best analysis on an ongoing basis.
And if you needed any analysis that was not on the page, you can ask me with a comment or a personal message..
Enjoy Trading... ;)
Crude oil is coming down now making five subwaves down from 80.00 so there can be some support not far away as higher degree corrective decline from October highs can come to an end soon. There is also a potential leading diagonal, which is a bearish structure, but still suggests that the market can stabilize a bit. RSI divergence also suggests that bears are...
Crudeoil Long Strong Support Zone 5770 to 5690
I am not SEBI register Advisor and I am not any trade and tips recommend here, This Idea post on this Channel Only for educational knowledge & learning purpose, I am not provide any trading tips, Before any Trade Advice your Financial Advisor, I am not responsible any profit and loss
I am not SEBI register Advisor and I am not any trade and tips recommend here, This Idea post on this Channel Only for educational knowledge & learning purpose, I am not provide any trading tips, Before any Trade Advice your Financial Advisor, I am not responsible any profit and loss
Pair : Crude Oil
Description :
Bearish Channel as an Corrective Pattern in Short Time Frame. It has Completed " 1234 " Impulsive Waves and Rejection from Upper Trend Line. We have Retracement for Break of Structure.
Entry Precaution :
Wait for the " 5 " Impulsive Wave
The recent test of sub-$70 oil prices appears to have been met with significant buying interest, potentially setting the stage for a reversal back above the $77 mark. The presence of a long wick followed by an inside bar could signal further upward momentum.
Bull Case:
There's strong evidence of support, particularly from the buying activity observed a few days...
12.8.23 There was an opening price long trade on oil yesterday near the end of that trading day. There was also another chance with an opening price to go along today but at a slightly higher level. that trade would have been an easy trade if you recognized that it had a support it had an extension which was the 1.272.... and then you have a small stop. The...
Crude is Trading in 1H Downtrend Channel
If Brreaks channel and retests then good upside
if reverses from here then downside
good risk reward play here
Introduction:
In the vast and dynamic world of financial markets, understanding market structure is paramount for traders and investors seeking to navigate the complexities of buying and selling assets. Market structure encompasses a range of elements that shape how markets function and how prices are determined. This article delves into the fundamental...
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You...
![CRUDEOIL1!: [MCX] Crudeoil Buy Idea](https://s3.tradingview.com/e/eQBIdos2_mid.png "[MCX] Crudeoil Buy Idea")
