Oil Short SetupOIL Short Setup
🔵 Entry Level: $84.72
🟢 Take Profit: $80.03 (3.58R)
⛔ Stop Loss: $86.03
Reasons:
- I'm expecting the price to bounce off the first level (marked for a long position) and continue trending up until it reaches the upper trendline again.
- So far the price has been respecting this ascending channel
- I am not taking the long position, but I've marked it so that I have more confidence in my short if the price does behave in the above-described way
Crudeoilanalysis
FOREX SPX500 GOLD OIL BITCOIN WEEKLY UPDATE SEPTEMBER 5 2021Hey Traders just wanted to give a weekly update on what I see happening in the markets this week. This is a short week because of the Stock Market closed tommorow for the Labor day holiday. But currencies and other markets are going to be moving with alot of economic reports scheduled. Also Bitcoin just established another leg up in it's new Bull market.
How high are the cryptos going to go?
No one knows for sure but so far it is showing alot of strength and it looks like it could test the old highs soon!
Enjoy!
Trade Well,
Clifford
Will MCX Crude oil Come Back to 5500?Crude oil has broken March 2020 support trendline today. That is indicating a direct sell signal. If crude crossover & closes above to 5160 levels, then it can come out from the downtrend. And we may see 5300 - 5500 again.
According to the current breakout, MCX crude oil may hit the following levels: 4800 - 4760 - 4660 - 4590
Thursday: USOIL - Week 26Hello Traders! Check related ideas for market context! --> this is why knowing patterns are a powerful tool!!
I will update my idea as the trade progresses if any changes occur and my analysis is wrong, or need to be adapted to the new development of price-action.
Thanks for the support!
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Wednesday: USOIL - Week 26Hello Traders!
I will update my idea as the trade progresses if any changes occur and my analysis is wrong, or need to be adapted to the new development of price-action.
Thanks for the support!
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SMASH that follow button! 👍
💡 Leave a comment and/or message me on how I can improve and provide better content, I'm open to suggestions to create a better experience for you!
RISK DISCLAIMER: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my videos as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this channel. This content is for educational purposes only and is not tax, legal, financial, or professional advice. Any action you take on the information in this video is strictly at your own risk. We, therefore, recommend that you contact a personal financial advisor before carrying out specific transactions and investments. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Inotfancy.com and all individuals affiliated with this channel assume no responsibility for your trading and investment results.
Monday: Crude Oil - Week 20Crude Oil keeps making bigger flats for 1 more up. But looking at the daily structure we clearly see that we are in a corrective phase. Based on pattern analysis I'm looking for the structure to break the top 1 more time, and then I'll be looking for reversal signs/signals.
I will update my idea as the trade progresses if any changes occur and my analysis is wrong, or need to be adapted to the new development of price-action.
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SMASH that follow button! 👍
💡 Leave a comment and/or message me on how I can improve and provide better content, I'm open to suggestions to create a better experience for you!
RISK DISCLAIMER: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my videos as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this channel. This content is for educational purposes only and is not tax, legal, financial, or professional advice. Any action you take on the information in this video is strictly at your own risk. We, therefore, recommend that you contact a personal financial advisor before carrying out specific transactions and investments. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Inotfancy.com and all individuals affiliated with this channel assume no responsibility for your trading and investment results.
CRUDE OIL could PUMP soon! Hey tradomaniacs,
Crude OIL could PUMP 👉
Would fit perfect to my risk-on-scenario that I expect for today!
CANADIAN DOLLAR will probably move up with CRUDE!
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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Oil Long SetupOil Long Setup (refer to the trade marked with "2")
🔵 Entry: $62.24
🟢 TP & RR: $64.55 (2.69)
⛔ Stop Loss: $61.38
Trade Reasons:
✔️ Support Level
📝 A very basic setup relying on a support bounce. I still believe that we need to reach the 1.618 level before price reverts (the setup posted yesterday and marked with "1"). In the meantime I want to take advantage of the move up (if I even get a fill), but my position will be much smaller than usual due to the last trading day of the month.
Oil Short SetupOil Short Setup
🔵 Entry: $64.49
🟢 TP & RR: $61.02
⛔ Stop Loss: $66.14
Trade Reasons:
✔️ 1.618 Fib Level Extension
✔️ Expecting the formation of higher high price with lower high on the Market Flow indicator (divergence)
📝 This trade will probably take a while to form and will require monitoring of the entry level, to assess the situation.
Oil Long PositionOil Long Position
🔵 Entry: $62.19
🟢 TP & RR: $63.55 (2.62)
⛔ Stop Loss: $61.67
REASONS FOR THE TRADE
✔️ Resistance flipped to support
✔️ Fairly strong volume upwards
📝 I am expecting price to consolidate around the entry level and then continue trending up. Even if this long fails, I certainly don't feel comfortable shorting the trend on a move upwards (or at least until I see some divergence).
Oil Short SetupOil Short Setup
🔵 Entry: $58.51
🟢 TP & RR: $53.68 (4.24)
⛔ Stop Loss: $59.65
REASONS FOR THE TRADE
✔️ Reached upper trendline
✔️ Seems like we are going to form a lower low
✔️ Divergence in the Market Flow indicator
📝 This is continuation of the short setup I posted a few days ago (1). If you are in a trade already this additional short (2) will increase your exposure, so I suggest moving your SL down.
Oil Short SetupOil Short Setup
🔵 Entry: $58.73
🟢 TP & RR: $53.73 (2.91)
⛔ Stop Loss: $60.45
REASONS FOR THE TRADE
✔️ Reaching a strong resistance level
✔️ Market Flow Indicator seriously overbought
✔️ Ascending channel upper trendline resistance
✔️ 1.618 Fibonacci Level (although not plotted on the chart as it becomes a bit clustered)
📝 Stop Loss is above the $59-$60 resistance level, although if you want a more relaxed trade you may move the SL higher to about $61. The confluence of the three factors above makes me believe that the price is due for a pullback if not even trend reversion. I will be monitoring the entry level mentioned above and may open the position prematurely if I see that the price is getting ready to take a dive down.
Crude Oil Long SetupOil Long Setup
Entry: $53.68
TP & RR: $57.65
Stop Loss: $52.57
REASONS FOR THE TRADE
Contrary to most expectations that Oil was overpriced, it continues to trend up. I won't open a long order at the current level, nor would I short obvious strength. However, if price retraces back to previous resistance, which is now support, I am more than happy to buy. I believe we are now in a channel and we are yet to see how we go through the awaited $55-$56 level.
With that being said, we may not get filled at all. Should this be the case, we will be targeting the upper channel with a short order.
Oil Trending Up - Long PositionOil Buy Order
Entry: $52.61
TP & RR: $53.79 (3.37)
Stop Loss: $52.26
REASONS FOR THE TRADE
Price is breaking through the upper trendline and unless this is a fakeout I expect it to continue going up until the recent highest high and maybe up until the dotted resistance around $54-$55. The market Flow indicator is showing momentum up and I hate to open a position against it, so I am definitely not shorting anywhere around the current level or unless the indicator shows otherwise.
The only thing I may suggest is for you to change the SL if you are afraid you might get stopped. I have the tendency to place it quite far from the entry, but this time I am taking a bit of a risk. It's your call here.