OIL Bear Trap on important Support LevelHello Traders,
Here is a quick and simple analyses on OIL, that made an Bear Trap on important Support level, and we consider traps the most important indication of price action for decision making in trading.
We belive the price has a chance to test the next important resistance level.
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Best regard Sandro and Gustavo.
Commoditysignals
XAUUSD Buy SignalPattern: Channel Down on 4H.
Signal: Bullish if the Lower High trend line of the pattern breaks as the RSI is already on a bullish divergence similar to November.
Target: 1585 (symmetrical Resistance).
XAUUSD Consolidation/ Buy SignalPattern: Parabolic rise on 1D.
Signal: Bullish as after the parabola broke down, the price reached the Support getting rejected on the 6-month RSI Resistance Zone.
Target: 1640.
XAGUSD : Long PositionI'm late knowing that silver.
Because I had to see the trend line break in the daily.
So the risk / reward ratio has fallen but this trade can be much more profitable in lower time -frames .
I'll look them too.
Parameters :
Position Size : %1
Risk/Reward Ratio : 1 / 1.36
Stop-Loss : 16.85
Goal : 18.742
Possible short entry in GOLD 21/12/191) Short-term uptrend, candles above MA (9) and price within the short-term upward channel.
2) Waiting for the price to reach the 38.2% level of the fibonacci and touch the top of the long-term bearish channel.
3) Possible crossing of MA (9) at that time, which would confirm the trend and validity of the long-term bearish channel.
4) Stochastic in positive zone and with bullish direction at the moment, waiting for signals to cross down.
Setup:
Entry = 1490.453
SL= 1500.919
TP1= 1481.841
TP2= 1473.313
TP3= 1461.172
TP4= 1445.707
Possible Short Entry in USOIL 12/21/191) Possible short-term downtrend to continue closing candles below MA (9).
2) Possible continuation of the price at the lower level of the bullish channel, after rebound at level 61.8% of the fibonacci.
3) Possible breakdown of the 78.6% level of fibonacci with large bearish sail.
4) Stochastic in positive zone and with bearish direction.
Setup:
Entry = 60.33
SL= 61.59
TP1= 58.62
TP2= 57.18
XAUUSD Buy signal (and continuation level)Pattern: Channel Up on 1D (blue channel).
Signal: Bullish as the price is rebounding on the Higher Low.
Target: 1485 (Lower High of 1W Channel Down).
* Observe the 1D RSI, if it breaks above its Channel Down we may have a bullish break out of the 1W Channel Down. Basically is the Green Triangle breaks, it justifies a push towards the Resistance Zone.
WTI OIL Bullish Trading planPattern: 1D Channel Up.
Signal: Bullish as the price broke the 58.80 Symmetrical Resistance, which (excluding the Saudi attack on September 16th) has been holding since July.
Target: 61.00 (1st 1W Resistance) and if the Lower High trend line (red bold) of the Descending Triangle breaks, 63.50 (2nd 1W Resistance).
See how accurate the 1W Descending Triangle has been on my last Support Buy:
PLATINUM Buy SignalPattern: Channel Up on 1M.
Signal: Bullish as the price is approaching the Higher Low zone of the pattern.
Target: 950 (below the 1D Resistance) and 990 (below the 1W Resistance).
COPPER Buy SignalPattern: Channel Up on 1D.
Signal: Bullish as long as the 2.6000 level holds (Higher Low lim).
Target: 2.8000 (1W Resistance).
Corn: Short opportunity on 1D Death Cross and RSI.Corn has been consolidating recently following the 402 peak on 1D (RSI = 54.610, STOCH = 53.472, MACD = 0.760, ADX = 18.642) after the September Death Cross. A similar candle sequence took place in August 2018, when after a 1D Death Cross (MA50 under MA200) and a market Top, the price made a new Low (Higher Low on 1W).
Since the RSI is on the same zone as then, we are expecting a decline towards 368'2 - 360'2.
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Gold tests upper range boundaryGold is testing the upper range boundary. Resistance above comes in for of 1500 handle and 4hr bollinger band. We are looking at short entries from around 1494.00.
XAUUSD Sell SignalPattern: 1D Channel Down.
Signal: Bearish after the price was rejected on a nearly symmetrical Lower High on successive rejections.
Target: 1453 (former High).
GOLD Medium term consolidation. Make profit both ways.Pattern: Channel Down on 1D.
Signal: Bearish as it is approaching the Lower High of the Channel.
Target: 1453 (former High).
CLJ2020-CLZ2020 Crude Oil - Breakout on double resistance levelCLJ2020-CLZ2020
Very interesting this spread between the two Crude Oil Futures, in which a lower level was broken where the value was tested several times, and at the same time was broken the next level that was also tested several times in the past months.
We try to take the order with one of the many oscillations that occur on this type of trading and place the mental stop.
XAUUSD Death Cross on 4H. Sell Signal.Pattern: Emerging Channel Down on 1D.
Signal: Bearish after a Death Cross has been formed on 4H.
Target: 1485 (1D Support) and 1465 (Channel Down Lower Low) in extension.
NATURAL GAS Sell SignalPattern: Channel Down on 1D.
Signal: Bearish as the price was rejected on the Lower High.
Target: 2.155 (the previous Lower Low and current Support). Extension can be made to 2.000 for risk seekers.
Gold sell signalsGold (XAU/USD), Weekly chart: Powerful resistance zone + "Shooting Star" candle pattern on big volumes + Overbought on RSI(14)
PLATINUM Buy SignalPattern: 1D Head and Shoulders.
Signal: Bullish as the price has touched the Support of the neckline. Potential rebound towards the Resistance but tight trade due to the bearish momentum.
Target: 870.00 (top of the neckline and symmetrical Resistance).
Brent Crude Oil Pushing BullishAfter an exhaustive trend downwards from an April high of 75.700, Brent lingers around a solid support level of 70.000
A perfectly timed descending triangle has formed for the Black Gold ahead of a breakout to the 72.450 level, retest 71.700 and daily target push toward 74.500/74.850
This move could prove in line with our USDNOK Trade
GOLD Technical rebound on Double BottomPattern: Lower Highs on 1D.
Signal: Bullish after a new Double Bottom on 4H.
Target: 1280. This is the 0.618 Fibonacci retracement. Every previous Double Bottom formation rebounded to the 0.618 Fibonacci level.
Gold's most important long term test is here! Don't ignore it!Gold has been declining since mid February and the 1,346.79 High. If this pull back has been purely technical then the important test on the 1W chart has arrived as the price is on the Higher Low region.
What is more interesting is that last time Gold tested a weekly Higher Low on a similar pattern was in December 2017 and the rebound was so strong that gave way to one of the most aggressive rallies in recent years all the way to 1,366.47.
The waves seem similar, 1,360 - 1,370 is the 1M 5 year Resistance, so there is a strong case for a rebound on the current level. In addition, since the current uptrend (since the August bottom) has been shorter and more aggressive than the previous one (December 2016 - January 2018), this time Gold may deliver the decisive test of breaking towards 1400. This is still vague at the moment. If the current 1W Higher Low breaks though we may be looking towards 1,200 - 1,180 again. But for now I am a strong buyer on Gold.
XAUUSD Buy Signal with strong 1D Support.Pattern: 1D Triangle.
Signal: Bullish as the price has rebounded on a Higher Low. Also the 1D Support Zone is just below.
Target: 1310 (Lower High). If the Triangle breaks higher then 1321 and 1345 can be used as extensions.
