Oil Short ClosedRising wedge broke as expected. Uptrend still not broken however.
Will wait until Monday to enter short/long depending on DXY and news. GL all
DWTI
Oil Rising WedgeOil forming a bearish rising wedge reversal pattern. Strength in DXY will lead to break lower. Rig count will not change price much unless large build.
Oil Top?Support at 43.20. Big support there from uptrend and previous top. If 43.20 breaks, start exposure to short side. If 43.20 breaks and holds break, 42 will go quickly. All eyes on DXY.
"TAKE A STEP BACK "$CL_F $USO $DWTI $UWTI $Oil $XLE $DTO $UCO IT IS ALWAYS GOOD TO TAKE A STEP BACK
AND LOOK AND THE HIGHER TIME FRAME
THE INTRADAY SWINGS CAN GIVE CONFUSION IF YOUR CONTEXT
ISNT FOCUSED
$CL_F $USO $DWTI $UWTI $Oil $XLE $DTO $UCO " BIGGER PICTURE' PRICE CAME BACK TO THE "ZONE OF INFLUENCE"
DOUBLE TOPPED AND THEN PANIC FLUSHED THE WEEK HANDS
BEFORE ITS REAL AGENDA.
"SWING UPDATE" $CL_F $USO $DWTI $UWTI $Oil $XLE $DTO $UCO $XOMPRICE PANIC FLUSHS
HITS POTENTIAL SUPPORT.
FORMS INSIDE BAR
THRUSTS UP
THEN RETEST.
"STUDY THIS ..OVER AND OVER AGAIN
"CRUDE FOLLOWUP" $CL_F $USO $DWTI $UWTI $Oil $XLE $DTO $UCO TIME CAME IN AND PANIC SOLD DOWN TO SUPPORT.
TO CONINUE THE ADVANCE WE NEED TO STAY ABOVE BOTH PIVOTS
OR A SIDEWAYS RANGE WILL POSSIBLY DEVELOP MORE IT SHOWS IT AGENDA.
First time Short DWTI gets you ahead of long UWTIA comparison of USOIL vs DWTI (inverse - please note 1/DWTI as the symbol) vs UWTI. If your broker allows shorting DWTI (mine does not .. it sucks !!), then you will be way ahead.
USOIL MACD divergence at 45mGoing short. Targets on Graph - 36.5, 35.6 and 32. Correction : First Target should read 39.6
CRUDE UPDATE$CL_F $USO $DWTI $UWTI $Oil $XLE $DTO $UCO $CVX $XOMPRICE STRUCTURE AT "POTENTIAL RESISTANCE"
TIME IS APPROACHING ....
TRADE THE DEFINED PARAMETERS ON PRICE ACTION.
IN THE CENTER OF THE RANGE IS THE "KILL ZONE"
Potential Gartley Taking Shape?A to B is a perfect 0.618 retrace of the impulse leg down...watching to see if oil heads towards the 0.786 retrace of the impulse leg up to point C. Potential oil target 29.25
"CRUDE UPDATE 240$CL_F $USO $DWTI $UWTI $Oil $XLE $DTO $UCO $CVXPRICE IN ENTERING
"PROBABITIY ZONES"
IT PROVIDES INFORMATION WHERE TO ACT AND WHAT
HAPPENS IF PRICE BREAKS THE AREA.
HAVING INFORMATION BASED ON PATTERN AND TIME
HELPS ONE FORM THERE ROADMAP FOR "THE TRADE"
"STALKING PRICE"$CL_F $USO $DWTI $UWTI $Oil $XLE $DTO $UCO $CVX DESCRIPTION ON CHART.....
PRICE IS GETTING READY TO CHOOSE ITS LAUNCH
FROM THE BOX...
CRUDE "STALKING"$CL_F $USO $DWTI $UWTI $Oil $XLE $DTO $UCO $CVX DESCRIPTION ON CHART.....
WATCH LEVELS FOR RESPONSE.....
"15 MIN CRUDE UPDATE$CL_F $USO $DWTI $UWTI $Oil $XLE $DTO $UCO DESCRIPTION ON CHART....STUDY PRICE ACTION .......
WE GET PAID TO WAIT.
How correlated is the SPX and energy?The market seemed to shrug off the initial drop in energy. As of late it seems much more correlated
Temporary trend change or new lows soon?Crude looks tired here. 15 minute chart looks like 5 waves down
$UWTI $DWTI $USO updated oil chart with key trend lines and TA!Watch for that stoch rsi bear cross for the pullback
$CL_F $USO $DWTI $UWTI $Oil $XLE $DTO $UCO $CVX CRUDE 60 MIN "STALKING A "TREND LONG"
NO OVERBALANCING ON THE INTERMEDIATE TREND YET...
$CL_F $USO $DWTI $UWTI $Oil $XLE $DTO $UCO $CVX 15 MIN ENTRANCE"PRICE SITS ON "POTENTIAL SUPPORT"
THEN SHOWS Its hand through Price Action
Manage.......
