WTI Crude Oil [BEARISH]Oil prices are being pumped no pun intended. The false demand that is being created is the excuse to push prices higher and higher.
Oilforecast
Oil Short SetupOIL Short Setup
🔵 Entry Level: $82.90
🟢 Take Profit: $78.42 (2.17)
⛔ Stop Loss: $84.96
Reasoning:
1) Currently an overbought level, expecting a slight cool down after which a new move up should follow, taking us to the entry target.
2) If this setup turns out to be valid, the price should print lower high on the indicator, while making a higher high on the chart.
3) Level is coordinated with previous support, which should act as resistance now.
4) Upper trendline on a descending channel.
OIl Going long at H4 momentum shift in weekly demand looking to go long on oil on a 4h chart with 4h shift in momentum at this weekly area of demand in a weekly uptrend
WTI Cude (OIL) TRADE IDEA
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USOIL - Long Opportunity Hello guys,
Oil closes above the resistance on the monthly time frame and as per fundamentals the crisis in UK & energy crisis in China also indicating the demand side is strong.
I am very much Bullish on OIL and will take the Long Opportunity once found the proper confirmation.
CL1! OIL MARKETS SHOULD SEE A VOLATILE MOVE NYMEX:CL1!
Oil Markets Are Looking to keep moving to the upside. Doesn't look like the OPEC and other Oil Wranglers are interested in increasing supply to cover their loses from the
COVID-19 lockdowns.
#OIL SHORT TERM SELL OPPORTUNITYAlright first off price is in bullish Daily trend but it reached 161% of Fibonacci extension ratio and as a result of that we saw a bearish engulfing candle which tells us participants who were long in oil are probably busy with profit taking actions and as a result it is possible that we see a bearish corrective move.
If you are with me so far now lets see how we can trade oil in short time.
In 4H time frame we saw an impulsive bearish move which shifted the 4H time frame structure to bearish for the first time in long time, after that bearish impulsive move we have a bullish corrective move which you can see in 1H time frame. Now price has reached an important res area with RSI indicator divergence and also we can see 1H bearish engulfing candle which shows us price has an intention for down side move also we kind of see that in 1H time frame price also couldn't create HH and we can see a Double top formation which is another confluence for bearish move.
Now in case of trading you can probably wait for the price to come below double top neckline which is around 82.050 and then wait for the retest or you can trade it with your strategy at any given time. But it is important to remember this is a counter trend trading and the overall trend is bullish.
For targeting first target obviously would be around 80.500 and after that its kind of risky to hold the position because as I said its against the main trend.
Wish you all the best
Oil Short SetupOIL Short Setup
🔵 Entry Level: $82.95
🟢 Take Profit: $79.49 (2.22)
⛔ Stop Loss: $84.51
Reasoning:
1) Yesterday's trades went as planned, unfortunately, I wasn't behind my desk to assess the volume and take them, but If you did, good for you. We are approaching the middle trendline, so I expect a small retracement after that point.
2) I am also expecting a divergence to form somewhere around the entry level.
3) Stop Loss is pretty loose since I want to give the trade some space to breathe With that being said, bear in mind the spread and the weekend fees, which may eat up your profits.
Oil Long SetupOIL Long Setup
🔵 Entry Level: $80.60
🟢 Take Profit: $82.84 (2.8R)
⛔ Stop Loss: $79.80
Reasoning:
1) Apparently the two trades from yesterday failed and we went much lower than expected. The price is currently resting on the lower trendline of the ascending channel, so I am expecting a slight move up.
2) Target is set at the middle trendline in the ascending channel
USOIL correction is very nearUSOIL could face two possible scenarios but the downside is more preferred. As seasonality, the OIL gets weaker from mid-October so it makes it more reasonable.
GOOD LUCK!
WTI - Oil forecastThe OIL price ( WTI) forecast has attached.
The golden zone to buy oil has also attached at the comment.
Oil Long SetupOil Long Setup - 3 Levels
🔵 Entry Level: $82.89
🟢 Take Profit: $85.29 (2.26)
⛔ Stop Loss: $81.83
🔵 Entry Level: $81.21
🟢 Take Profit: $84.35 (3.78)
⛔ Stop Loss: $80.38
🔵 Entry Level: $80.31
🟢 Take Profit: $82.83 (3.27)
⛔ Stop Loss: $79.54
Reasons:
1) I've marked the three levels of interest that I have for opening long orders. I will be monitoring each one BEFORE opening a trade, so I don't have them set as limit orders yet.
2) For Level 1 I would like to see a double bottom forming. If it doesn't I am inclined to set a limit for Level 2.
3) I am certainly setting a limit order for Level 3 if I see the other two levels fail, since that diagonal trend line in the ascending channel so far has been well respected. If it doesn't hold up, I will be looking for opening shorts only.
NEW WAVE OF DEFLATION JUST A HEAD We are again coming into a new cycle of deflationary forces after this next move up in wti to 85/87 focus 85.9 we should then see a total break from the fear of inflation to a stop of money flow into the system
OIH MOVE TO 85% SHORT MARKET HEAD &SHOULDER TOP .786I AM moving to puts for jan in OIH AT THE MARKET MAJOR PEAK
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
Oil short readyHi there,
Oil preparing a big move to the downside, since March 2020 lows we are on a new trend, completing the 3 wave we go for the big correction to the downside, Long term, Oil still a buy, but for now look for shorts only.
Watch price action in lower timeframes to go short,
Good luck
WTI IS NOW SETUP FOR A BIG TUMBLE DOWN A NEW WAVE OF DEFLATION IS JUST ABOUT READY . I would stand side in ALL inflationary assets as of today as an event due oct 4 to 20th is near
USOIL SellAs we saw the movement on the prices of oil the last week we saw strong bullish momentum and high demand on oil during the last week
and on our opinion the OIL may make strong retracement to the south to the level of 76.50 at the level of 61.8% Fibonacci expansion
and then we might see pullback one more time to the current levels at 78.5 from that we may see continuation to the downside with high volatility
and our stop loss will be fixed above the last highest high of the whole bullish movement at the number of 80
and our targets will be 75.50 and 73.50 in sequence
use money management and don't move or remove your stop loss
trade safe
$CL_F support for a continuation higher 75-76 zone is a perfect one to join a bull extension party. Also an excellent low risk long trade entry. From this point an extension higher to 100 is extremely possible.
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CL oil futurebe careful of oil? It requires monitoring, and any center of its intervention must be certain
