Trade4God

Trade4God

Happy Friday oil traders! I just noticed this Tristar on the 15 minute chart for USOIL. I had never seen 3 dojis in a row so I had to look it up. According to my reference, a Tristar is 3 doji candlesticks that appear at the end of a run, either long or short. They typically indicate a change in direction. Considering the decline in oil today, maybe this is an...

Trade4God

Happy Friday oil traders! I wanted to take a longer look at oil. In the near term I see a short coming if we break the new support level we appear to have established. In the long run, oil has a stable support level in the $51.40 range, but I believe it will be some time before we see those levels again. In the mean time, you can see oil has hit a resistance...

Trade4God

Hello oil traders. I just saw this 3 bar set up. It is usually a sign that price will continue in the current direction. In this case it looks like oil should continue up. I am now expecting to see a mid-$41 price range. May make a good day trade as well. Remember to trade responsibly.

Trade4God

Happy Friday oil traders! Let us pause for a moment and remember those who gave all 19 years ago today... Let us never forget! With that said oil appears to have dropped and is hovering around the June low. There is not much support at this price range so will it go up or continue to fall? I am not sure. I believe it wants to continue back up to its $40-$60 price...

Trade4God

Happy Friday oil traders! What a roller coaster ride we have had this week! Looking at the 1 hour chart, it looks like if oil can stay above the red resistance line, then I believe it will move back up to the green support line. This could be a day trade, but will probably extend into next week. If oil doesn’t close above the resistance line, it will probably...

Trade4God

What a crazy year our world has seen! Oil is definitely no exception. I was doing great, then started messing up big time and needed to step away for a while and build things back up. So now that. I am starting to make a comeback, let’s take a look at what is going on with oil. As others have stated, oil has been in consolidation for the last three months. Looking...

Trade4God

Hello oil traders, happy Friday! It has been a while since I have posted and have just been sitting back taking all this chaos in and looking for the bottom. Is this a double bottom here and is oil on the way back up? I am not sure, but if you can go long and I mean really long, (4-6 months) you stand a chance at doubling or tripling your investment. The fact is...

Trade4God

Hello traders! What an amazing week, if you were shorting oil! I was in and out on day trading doing both shorts and longs, but to no avail. It seams the more I made on futures, the more I lost on my stocks. The problem trading futures from the same account you trade stocks is when weeks like this occur and you lose margin as your stocks fall, wiping out your...

Trade4God

Happy Monday oil traders! Not looking to be a good day to go long. Currently in the Pre-Market the S&P is down 74 points, the NASDAQ down 238 points and the Mini Dow Futures (/YM) is down 700. USOIL is already down 3.5%. This Coronavirus is causing major market falls. If the markets continue to fall it will drag oil down too. I am expecting oil to hit $48 over the...

Trade4God

I hope everyone had a great week! I wanted to take a look on the daily chart and see if we can tell where oil is heading. Unfortunately, technicals are not giving us much and the Coronavirus threat is probably not going to help the situation. Cruise lines are down which means another source for oil usage will be down. Flights into China are going to be down,...

Trade4God

Happy Friday oil traders! After a string of losses, I have had to go back and look at my fundamentals again and I have changed some of my indicators to further assist me in reading the market. Logic wasn't working anymore and I am not sure why. Anyway, right now looks like a quick day trade buy, with Stoch RSI and Moneyflow both heading up. I wouldn't get greedy...

Trade4God

Hello oil traders! I see that oil crossed the bottom of my channel and now looks like it may be moving back up. I had said for a long time that I expected oil to drop down around $52 and it finally did. Now looking for oil to return to the top of that channel around $56.40. StochRSI and MoneyFlow are both moving up which is a good sign. We’ll see what happens.

Trade4God

Happy Martin Luther King Jr. Day oil traders. He was a great man in American history. Today is a great day to be an oil trader! Looking at the daily chart, it would appear oil has bottomed out on the newer channel I highlighted, and looks to be moving northward again. I entered in at $57.90 on Thursday and sat idle on Friday while things dragged on slowly. I am...

Trade4God

Good morning oil traders! I just noticed this trend that started last night. Should be a good quick short. I entered in at $61.30 end of day Tuesday. It appears I will hit my goal of $60.90 this morning shortly after market open. I am expecting long term oil traders will take profit today as the first trading day of the year, plus being a Thursday which is usually...

Trade4God

Happy New Year oil traders! I hope everyone had a profitable 2019 and will have an even more profitable 2020! I started looking at USOIL in different chart views instead of the normal 15 minute chart or daily chart. Looking at the 1 hour chart I see this nice climb in price and then this huge rounding over. I also see a divergence between the Stoch RSI and...

Trade4God

Hello oil traders! I have been sitting watching this for a while and I cannot make heads or tails of it. In all honesty, there is not enough good "long term" news to drive prices higher. Yes OPEC is making steeper cuts, but analysts say that may not be enough to sustain higher prices. EIA weekly data still says we are something like 3% higher inventories on the 5...

Trade4God

Happy Black Friday oil traders! I hope everyone had a wonderful Thanksgiving! I deleted all of my other channel lines to take a fresh look at what oil has been doing and what to possibly expect for December. I am assuming the US Stock Market is going to boom today because of Black Friday, but I am not sure oil will follow. President Trump is now pushing China on...

Trade4God

I noticed this on the 15 minute chart today as I logged onto my system. Does this mean we are about ot have a huge drop in USOIL price?