The chop in WTI continues but bullish factors outweigh the negatives.
Oil prices has been through rough couple of sessions after suffering a more than 10% drop on the 18 of March. The biggest "challenge" to the bull case for oil has been the rise in virus cases, more recently from India which is the world's third largest oil importer.
However, the fact that...
Price has been kept below the trendline. Now wedging down waiting for the major break out to the down side. Unless of course it breaks out of the trendline.
Hey all!
Heres another video that can help you all get your trading on track!
In this video we go over 4 ways to improve your trading, and overall become a better trader by focusing on,
- Having a complete system
- Managing your mindset
- Trading less and focusing only on the good trades
- learning from your losing trades
If you enjoy the video and it helps...
In this video we go over the way we approach day trading via our trading strategy which is based purely on technical analysis.
Its a short video and we specifically go over WTI, even tough we have many tradings, but fixed range volume profile is explained and the way we use it.
We hope you enjoy the video and that it helps you with your trading!
Good luck!
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Looking at West Texas Oil its clear and obvious to me that there was a liquidity grab above this major weekly resistance. Price has since impulsed to the downside and created a new structure low....
Possible a h&s pattern in the making if this extended right shoulder fall sharp. Looking at its RSI, it slowly falling making the pattern more possible. Will see this week if it materialize.
Looks like we have a nice confluence zone between 61.27 and 61.64
Two harmonic patterns (a bat and a deep crab) are pointing there.
Let's see what happens if price reaches the zone. We probably will see some reaction)
It's been 15 days since the formation of the range(57.2-62). Price has tested the upper and bottom range twice each.
For range trade setup, just buy low and sell high. Now it's in the middle, I suggest doing nothing unless we zoom in, identify setups on 15m or even smaller timeframes.
The range will finally be broken. The problem is which direction it might...
This may be a bit of a controversial post, but if you choose not to go down the rabbit hole, you can at least check out my two technical ideas.
Oil is a trade we have been long since the break above $44.00. Our target was the major resistance/flip zone around $66.00 which we hit to the T:
Once price hits our major flip...
Crude may be building a head and shoulder pattern with the neckline at the $57 level near term. The break of the $60 level may put a test of that support in the next couple days.
A giant container ship got stuck across the Suez Canal on Tuesday. Since then, crude oil prices has been largely driven by the the progress of dislodging. Good news pushed crude oil to go down by 4-5% and bad news helped it fully recover the loss. Why did crude price fluctuate so wildly on the news?
I checked the size of the container ship...Super big size with...
OIL on an uptrend
Good luck for your trades.
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market.
But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for...
