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CFDs on Crude Oil (WTI)

USOIL 1H update

By Anees
Updated
Plan is on the chart.line thickness indicate the probability.

Good luck
Trade active
The long pending order opened @42.90 with a well calculated SL@42.10 which was not hit (10% luck as it was falling from @51.85 and just stopped @42.19)

P.S.
Remarks on my strategy trading USOIL, it mostly moves in THREEs.
Which means:
-falling from 51's means most likely will stop 42's which are three threes
-then went long from 42's to 45's, breach above 45's will trigger the next three levels, in this case
-if the long target is 47's means expect pullback to 44's to add longs
-extended long target to 49's means add longs on the 46's retest. Also means that the long-term short TP will be @40's and extremely TP 37's (37's is too far but not impossible, but the price should correct longer time 46's)
-personally I'm expecting the long-term short to be 38's means the price should only go to the 47's level, then makes its three threes down to 38's .

**Watch for a clear breake of the @**.80, price above or below it most of the time would trigger the next dollar price with some resistance/support at the @**.20

so depending on the top of the on going long wave's target, the following down move steps could be approximately calculated.

Good luck
Note
USOIL short is on the way, will try shorting before wednesday.

Sell pending orders are set between @48.60 and @49.60.
An exact location is difficult because of the gap, but it should be either one of those.

Same strategy, divided my lot size and spreaded them in that area, SL is above @53.00

Will close the longs from 42's close after the fall.

Good luck
Trade active
Some shorts above @48.60 were opened
Note
As expected, the price fell, but before opening all the short pending orders, at least the opened shorts are now in profit, as well as the longs from 42's zone.

Trading plan until @42.80:
-close the longs from 42's in the next pullback 47's or 48's or break below @44.80
-adding small SHORT pending order at every @**.60 all the way to 44's, with SL above @50.80, half of them will be closed between 43 and 42
-setting a very small LONG pending order at every @**.80 with TP (@**.80 + 0.50) and SL@**.50, for example long pending order @45.80 with TP@46.30 and SL@45.50

Will set all the pending shorts and longs and come back later after the price consolidate below @44.44, or break above @50.

Good luck
Note
I have adjusted the small long pending orders to be @**.80 with TP(@**.80 + 0.40 instead of (@**.80+0.50)
And added another small longs pending orders @**.35 with TP (@**.35 + 0.35) while keeping all the short positions, and adding more as planned.

**The longs form 42's and shorts above 48's are allowing me to play and test more strategies, so if you don't have a cover for these tiny longs orders do not risk your money on them. Just go with the main shorting plan after clear break of the @44.44 or a pullback to the 47's-48's targeting 42's then 39's.

Good luck
Note
The expected rebound from @44.80 is done, and also in threes in which the price stopped @47.70 thats why i did not close my long positions untill a clear break of the @44.80

The break above @47.80 may drag the price to @48.70. But for now I have added a small short position @47.60 with SL@47.90, and another sell @48.60 with SL@48.90

If @48.80 is broken to the upside, then expect the price to go to the optimum shorting zone on the chart before the big fall.

Good luck
Note
Oil is targeting the optimum sell just around @50.70, will exit all long positions after the opening of the short pending order @50.55 and seeing a quick impulse down.
Note
Does not look good, will keep all positions,Longs and shorts.
At that level it may reverse and fall, or consolidate above and continue the up trend. I will wait for some more 4H bars before making any move.
Anees

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