just a small idea for a possible move to bring us back to the POI that has yet been mitigated!
Remember this is a counter trend idea so it is not as likely to happen BUT we have to keep it in mind!
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remember in my last oil post when i called the top?
there was some really salty humans in the comment section who were most likely bag holders from the absolute peak of the bull run.
this is an update for them.
i feel like oil has entered into a quatervois here, which is basically "crossroad" in french.
Shown is an overlay of Bitcoin's previous top ~$69k. We are showing very similar price action of a wide, heavy range at highs, with the micro lower highs on the underside signalling a continuation / blow off top spike is possible.
Product supply is increasing from several refineries opening from maintenance alongside seasonal demand, allowing for the current...
The winter is coming and global tensions are still rising, the war in eastern europe is not even yet in the phase where both parties are willing to sit down. It could be a long and bloody winter for Europe.
I believe oil futures have been going down based on recession fears, but with signs that China will re-open I believe this will be balanced out. I believe...
Hey guys, I know it's been a while.
I took some time off from trading to reflect my losses.
sometime is about going to the basic and in order to grow, we got to break what we've learnt and relearnt everything once more.
I have tested by applying what I always believe in, Fibonacci, S&D + a few indicator to support my set of rules.
The testing is still in...
Sellers pushed off the major resistance/supply zone ($94.111=$93.419) at the 4hr timeframe. A perfect break and retest pattern were also created by sellers pushing below the trendline support.
We can see a drawn intraday support level on which the price rests. If sellers should push prices beneath the intraday support zone, then I speculate taking a sell trade. My...
USOIL is at the verge of making a "terrific" decision.
I am selling and looking for a breach.
My Elliott Wave Analysis points me towards a Intermediate (C) wave.
Comment or DM on this.
P.S. It's that "sinking Titanic".
As its clear from chart,
us oil has broken the blue down trend / bull flag and got a nice push up side,
As dollar index is in corrective mode and we can see some more pullback in dollar index,
We are looking oil as a long opportunity, any pullback around 90.70 -90.80, will be a long opportunity targeting 97.50 -97.80.
The idea will be considered as invalidated...
So the indicator created, which is in Beta, essentially detects trading blocks that act as areas of buying or selling with considerable amounts of accumulated volume .
Daily Bullish Block looks to be in play heading into next week. Suffice to say I will confirm the completion of block on Monday and trade accordingly.
Today we want to talk about crude oil. We forecast that the correction of the oil initiated on March 2022 is over and we already have started wave III in the cycle degree (orange). These are the 2 main reasons
1- The expected minimum level for the WXY correction was reached (87.086). We can see clearly that the price has bounced from the Inflexion...
Ropa w słabym trendzie spadkowym ale nadal ten trend trwa. Wzrost jaki się budował w ubiegłym tygodniu jest jeszcze naturalnej wielkości w stosunku do korekt poprzednich w trendzie. A więc jeżeli cena uderza w dół z układu 1:1 warto przyjąć scenariusz że zaczniemy nadal budować niższe dołki. Lokalnie zakładam iż dostaliśmy pierwszy impuls w dół i trwa korekta tego...
A buy may be setting up.
The highlighted demand zone is expected to hold, as it caused a bullish break of market structure.
So we wait patiently for price to come to our buying zone, then look for bullish price action to confirm and valid entry.
Despite limiting its highest daily gains in a week, WTI crude oil remains in a flat trend. US government representatives have stated that they are prepared to release 15 million barrels of oil from SPR.
In contrast to repurchasing shares and paying dividends, according to Biden, oil firms should increase output and lower gasoline costs.
He said, “My message to the...
Watching WTI this morning as we continue to see it tighten between the recent downtrend line and the high line from the daily down channel from a few weeks ago.
The high line was respected from Oct 5th -7th, even though we haven't had a precise close on the 30min TF, price has rejected from that area so I think this is safe to view as a descending wedge.