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Brentoil

BRENT OIL ($UKOIL): Demand For Oil is Back, But is the Uptrend?BRENT OIL ($UKOIL): Demand For Oil is Back, But is the Uptrend? ✨ New charts every day ✨ Like, Comment & Follow to help the community grow 🎉🎉 --- Brent Oil (UKOIL, USDBRO, OIL_BRENT, BCOUSD) prices are seeing momentum again with Brent Crude forming an uptrend after an ugly start to 2020. Will we continue to see strength for oil, or will the lingering excess of supply work to suppress or even push down price? The chart suggests we have more upside, so let's map out a plan for what we do as oil prices rise. Resource: www.aljazeera.com --- 1. Fractal Trend just started showing an uptrend (Aqua bar color) on the 1 hour timeframe for the first time since early 2020. 2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua) and/or bullish S/R levels plotted by Directional Bias (Aqua). 3. Right now we are looking for an entry off of S1 S/R + order block cluster to ride this potential uptrend to our R1 take profit target below the gap at the range formed by prior swing highs, and our R2 exit target above the gap which would then form a gap fill. 4. The only three full position closure conditions here are if we hit both take profit levels, Fractal Trend signals a downtrend (Maroon bar color) and/or the stop loss is hit. 5. If Fractal Trend signals a downtrend, we will then be looking for short setups instead. So keep in mind that although we currently have a fresh bullish bias on oil, that could change quickly depending on what happens with the oil economy and with oil prices. Good luck family!
TVC:UKOIL
by AlphaBotSystem
USOIL Short Trade Setup Update! Distribution Zone!Welcome to Profitlio Trading! What's up traders! Thanks for Jumping back on my Analysis, Traderchamp is here on your Service, Also hit thumbs up and support the work. Just follow the video for the update on short trade setup! Analysis: USOIL showed up some continued growth up to the resistance level held at $27 to $28 price level. Now the price showing up some retest after the breakout on strong ascending channel which where it completed 5 impulses within the structure. Now Ill be waiting for a possible bearish signals on top for new short entries. Sketch up your own trade setup before you take off. Good Luck! Profitlio Trading ( Since 2014 in Financial Markets ) ________________________________________________ Traders Disclaimer: Non of our analysis or trade setups being shared here on tradingview is a trading advice. As we keep on weekly updates with our predictions and expectations. We may take them as a trade only if trade setup meets the required criteria ( Confirmations ). Unless we will never take them as a trade if it never reach our trading requirements. Take them at your own risk as trading is highly risky and you may loss your investments. Our trades are based on Swinging and Mid to long term approaches. All trades executed will be handled under the name of Profitlio Trading only.
TVC:USOILShort
by Profitlio_Trading
USOIL Short Trade Setup Update! Huge Profits Coming!!Welcome to Profitlio Trading! What's up traders! Thanks for Jumping back on my Analysis, Traderchamp is here on your Service, Also hit thumbs up and support the work. Jus follow the video for the update on short trade setup! Analysis: USOIL showed up some continued growth up to the resistance level held at $27 to $28 price level. Now the price showing up some retest after the breakout on strong ascending channel which where it completed 5 impulses within the structure. Now Ill be waiting for a possible bearish signals on top for new short entries. Sketch up your own trade setup before you take off. Good Luck! Profitlio Trading ( Since 2014 in Financial Markets ) ________________________________________________ Traders Disclaimer: Non of our analysis or trade setups being shared here on tradingview is a trading advice. As we keep on weekly updates with our predictions and expectations. We may take them as a trade only if trade setup meets the required criteria ( Confirmations ). Unless we will never take them as a trade if it never reach our trading requirements. Take them at your own risk as trading is highly risky and you may loss your investments. Our trades are based on Swinging and Mid to long term approaches. All trades executed will be handled under the name of Profitlio Trading only.
TVC:USOILShort
by Profitlio_Trading
8
Brent found local support - indicating strengthIn my last post I stated my bearishness because the - seemingly - rejection of >30 levels. Right after the post, a bull run started and we went from low 29 levels to 31.75. A very strong correction indicating market still believes in upside. The momentum stopped exactly at the trendline forming the broadening falling wedge. When reversing, heading down again, Brent found support on a trendline indicated in the graph, forming a higher lower. This trendline, together with the resistance of the falling wedge, forms a symmetrical triangle, a nice range bound area, which in my opinion should break out on the upside, given the entry into the triangle from below. It is a very sudden change of my view on Brent, but itsn't that what trading is all about? Acknowledging you might be wrong and being flexible in position taking, and not being stuck to your believe?
TVC:UKOILLong
by pptw
Rejection of major level - bearishNew to the commodities but it's something I want to focus on more. Just sharing a very short view here: We see a clear rejection of the 30> levels on UK Oil. This is specifically visible on the daily chart, with a bearish 2-bar reversal. This level got rejected, we are in clear downtrend looking at the moving averages, and we closed below 30. Now we are hovering in high 29 area awaiting price action. We see a clear broadening falling wedge, where downside will be tested in next two weeks. Note the 30 level is also the support level of January 2016. The 30 level has been clearly broken last month, tested again, and rejected.
TVC:UKOILShort
by pptw
11
USOIL Retesting Channel After Breakout. Is this is a Double Top?Welcome to Profitlio Trading! What's up traders! Thanks for Jumping back on my Analysis, Traderchamp is here on your Service, Also hit thumbs up and support the work. USOIL showed up some continued growth up to the resistance level held at $27 to $28 price level. Now the price showing up some retest after the breakout on strong ascending channel which where it completed 5 impulses within the structure. Now Ill be waiting for a possible bearish signals on top for new short entries. Sketch up your own trade setup before you take off. Good Luck! Profitlio Trading ( Since 2014 in Financial Markets ) ________________________________________________ Traders Disclaimer: Non of our analysis or trade setups being shared here on tradingview is a trading advice. As we keep on weekly updates with our predictions and expectations. We may take them as a trade only if trade setup meets the required criteria ( Confirmations ). Unless we will never take them as a trade if it never reach our trading requirements. Take them at your own risk as trading is highly risky and you may loss your investments. Our trades are based on Swinging and Mid to long term approaches. All trades executed will be handled under the name of Profitlio Trading only.
TVC:USOILShort
by Profitlio_Trading
2
USOIL Trade Setup with Ascending Channel Welcome to Profitlio Trading! What's up traders! Thanks for Jumping back on my Analysis, Traderchamp is here on your Service, Also hit thumbs up and support the work. USOIL showed up some continued growth upto the resistance level held at $27 to $28 price level. Now the price showing up some rejection while it has created a very narrow and strong ascending channel which where it completed 5 impulses within the structure. Now Ill be waiting for a possible breakout to short the positions towards target around 50% fib level as highlighted. Sketch up your own trade setup before you take off. Good Luck! Profitlio Trading ( Since 2014 in Financial Markets ) ________________________________________________ Traders Disclaimer: Non of our analysis or trade setups being shared here on tradingview is a trading advice. As we keep on weekly updates with our predictions and expectations. We may take them as a trade only if trade setup meets the required criteria ( Confirmations ). Unless we will never take them as a trade if it never reach our trading requirements. Take them at your own risk as trading is highly risky and you may loss your investments. Our trades are based on Swinging and Mid to long term approaches. All trades executed will be handled under the name of Profitlio Trading only.
TVC:USOILShort
by Profitlio_Trading
8
Brent oil (BCOUSD) longI see no reason to short oil. The decision area for me is about $ 23 per barrel, I focus on my broker quotes. I believe that a recession awaits the economy, but we are now closer to the moment of exit from the lockdown and the probability of an increase in oil demand is higher. Asian countries are beginning to come into normal operation, and for them, buying oil at current stock prices is a very interesting idea. Companies engaged in shale oil production are probably close to bankruptcy or a temporary halt in oil production. In May, the first reductions according to the agreement between OPEC and the Saudi Arabia and Russia. I don’t see an opportunity for short. Therefore, I am considering shopping. Be careful, brokers have very high oil swaps now, so it is better to trade futures but only with stop loss without transfer over the weekend! Be careful with this tool!
OANDA:BCOUSDLong
by THG_trader