Trade4God

Happy Friday oil traders. After taking a beating this week, USOIL appears to be done dropping and will likely finish out the week above $54.50. Based on the daily chart, I have reason to believe next week will be more positive. Over the last couple of weeks USOIL has broken the upper consolidation line multiple times and since the beginning of August has been...

With the Engulfing candle forming and the Stochs and Moneyflow heading down, looks like a shorting situation.

Hello oil traders, and happy Friday! I posted a little bit ago about what I expected to see for today based on the 15 minute chart, but that is not working out, so I decided to take a longer look on the daily. Based on the 2019 high close of $66.15 on April 23rd and the 2019 low close of $51.06 on June 12th, USOIL has been in consolidation mode and has not closed...

Happy Friday oil traders! Here is my take on USOIL today. Today appears to have an upward moving channel. The S&P500 supports this as it is currently up 9.5 points in pre-market. USOIL has been following the S&P this week so I would expect to see another jump back up to $57 range. I don't think we will see any major movement today. Everyone wants to have a happy...

The roll over has begun. The stochs are bottomed out for the most part and money flow is low. The big drop in the current candle, I believe is just the beginning. Oil has been up all week and has pierced the upper limit on the channel, but hasn't busted out. I believe we are going to see a drop all the way back into the $53s. If it goes past that, I expect it will...

On the daily chart, I see USOIL is right in the middle of the light blue channel and has never really broken out of it and stayed out. This was my original channel I created to see if my theory of oil staying in a consolidation mode for most of the rest of this year and it is holding true. The Stochs and money flow point to a rounding over so I expect this to...

From the chart we see that back in June USOIL broke out of the lower boundary on my original consolidation wedge. In mid-July it repeated and created a new bottom boundary which I marked. In early August it retested that boundary. It appears we still have further south to go to probably the mid $51 area and it will more than likely stay within the new wedge for...

Since I am in a short position, I really enjoyed today's tumble in WTI. I now see an Inside bar forming. The only question now is will it continue to drop or will it rebound?

Looking at the 15 minute chart I see USOIL is in the middle of the channel. The Stochs are still moving down along with money flow, so I see today ending a little lower. Wednesday, however, should see a continued rise.

Good morning oil traders! It looks like we are going to have a "short" day looking at the current channel.

Expecting to see some more lower prices on oil. Expecting it to stay in the consolidation zone and drop to the $51.10 area. Let's see what happens.

Good day all! As you can see we have an inside bar with the next candle trending positive. This usually means it is going to continue positive for a while. Remember to trade responsibly! Enjoy!

After a nice rise last week and seeing MoneyFlow still moving up and the Stochs still high, I see a little more room to grow. Looking at the chart, yes it did break through the lower limit I set for consolidation, but it bounced back. Looking for entry around $53.60 - $53.30 and believe we will see $57.00 - $57.50 (near average daily price) before another trip...

Hello all oil traders. This may be good news as an inside bar was formed on the 15 minute chart. If the next candle stays positive, I am expecting some higher moves today in oil.

Based on Wednesday's dip and yesterday's slow upward progression, I extended the two day channel and visually see an opportunity for a small gain. The Stoch RSI is low and money flow is low, both ready to change directions. With the upward momentum in the channel, I see a buy opportunity at $52.70 with a SL at $52.50 and TP between $54.00 - $54.30. Always remember...

Good morning USOIL traders! My idea today is based on the 15 minute chart. We are still in a long term consolidation, I believe. With that said, looking at Stoch RSI being at the peak and crossing, and Money Flow high, probably ready to switch over, it appears like we have an opportunity for a small short. Looking to get in at $55.00-$55.20 range and expecting to...

Hello oil traders, happy Tuesday! Here is my idea for today. With oil demand weakening, Monday's stock market results being lackluster for a Monday, and Tuesdays usually being a down day, I am seeing on the 15 minute chart an opportunity to short at or around 56.30 set SL at 56.50, and TP around 55.60-55.70.

Looking at the daily chart, it appears USOIL is heading into consolidation for the rest of the year. I am not expecting any new trends based on the data, as seen here. Would expect smaller and smaller shifts in price as we head into November. Interesting to see the huge swing from November of last year and where we are ending up. I would sit tight, if I was...