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Crude-oil

WTI Crude Oil - USOILI've singled out prior balance areas using Auction Market Theory, obviously they're not exact. I threw up a fib to give me an idea for a new balance area to develop. I'll wait until it's developed but i'll look for short positions as long as it's below #12 prior bal area low. If it hits invalidation area i'll wait until a more defined trend/area develops before deciding anything. This is the first idea I've ever published so i'm not really sure how much i'll enjoy doing this.
TVC:USOIL
by stockmarketsquirrel
Another bloody August for USOIL?Let's see whether we can catch a significant bottom in USOIL price for 3rd August in a row :) I am looking for decline through the next 5-7 weeks due to the following brutal rejection at Weekly Pivot R1, which is also Daily EMA100. Note RSI - although the new high of 47.71 is slightly above previous major high 47.29 on Jul 4, downtrending RSI makes me think buyers are walking away. Target 1: 42.55 This is the area of current Monthly Pivot S1, and closely correlates to last "minor lows" June 2017, December 2016, Sep 2016 Target 2: 39.78 This is the area of current Monthly Pivot S2, and closely correlates to last two "major lows" on August 2016 and August 2015 Both areas are possible reversal zones, though S2 looks more likely at this time. Watching out for: - OPEC/Russia murmurings during last week of July (I don't believe any further cuts will be announced). - Further big declines in USD - Collapse of Venezuela and more Mad Max stories :) www.google.ca
TVC:USOILShort
by jconnor
2
Huge momentum behind oilOil hard to oppose here. The downdraft was overdone so the oil price is now compensating upwards looking for fair value, while new news including the first reduction in US production and the first reduction of the US rig count this year is adding coal to the boiler. Bot were announced this week. Watch for the Chinese Caixin PMI on Sunday 2 July. This will give clear direction for the Asian market. A reading over 50 could turbo charge the upward march. The banana just gives shape to the tops. Will take special news to take out 49.x 48.3 could also be tough to push through. A thinning of the Ichimoku cloud on the trajectory will encourage bulls to push ahead and create the necessary short covering which has been a big feature of the rise so far.
TVC:USOILLong
by TreeDoc
Just wanted to share my triangle scalping theory for crude oilThis pattern has brought me great success scalping crude oil. How to trade it: Look for an ABCD triangle formation with lower highs and higher lows. Draw the triangle with extended lines. Measure the baseline at B and divide it by 2 Add this value to the point of breakout to get a nice padded target to either side Look out for fakeouts and good luck. Backtests may occur on the extended lines to the right but moving between them invalidates the triangle and the trade should be closed.
TVC:USOILEducation
by Sholmes