Trade4God

Trade4God

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...

Trade4God

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...

Trade4God

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?

Trade4God

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.

Trade4God

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

Trade4God

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.

Trade4God

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!

Trade4God Updated 

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...

Trade4God

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.

Trade4God

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...

Trade4God Updated 

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...

Trade4God

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.

Trade4God

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...

Trade4God

Today's candle has broken the upper channel boundary. Based on this move, recomputed the Fibs and expect a retrace to the 23.6 Fib line before negative motion begins. Trade carefully. This made be a new trend or a fake out. Need a few more days to analyze to be sure, but may hit or surpass the mark by then.

Trade4God

Interesting to see this development. Since we are at the top of the channel on the daily chart this appears to confirm we are heading south. I am expecting a retrace all the way to the 61.8 Fib line.

Trade4God

On the daily chart you can see we have hit the top of the channel. If it breaks out I expect immediate move to the 23.6 Fib line, followed by a move back to zero Fib line. If it stays in the channel, expect retrace back to the 61.8 Fib line. It's Friday and the end of the month, so anything goes. Notice also Money flow is heading south at this point and Stoch RSI...

Trade4God

Based on the channel that has been created today, I would expect a slight decline in prices today while remaining within the channel. On the 15 minute chart looks to go sideways today.

Trade4God

Expecting Oil to stay within the channel today on the 15 minute chart. May be handy for day traders.