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Oilfutures

cl, oil, day trading for Feb 10th 2020today the early session is setting up my boundaries very well, I do however have a light red zone for short at 49.8, and this could take s right past red low to the prior range bottom. In the event we break that low I then will look for targets, until then i have no values lower. Oil is and has been trading in a larger range from 49.5 to 51.90 and until this is cleared i expect we stay put and if this info remains correct then I think early on today will set up a in range long side trade.
TVC:USOIL
by alleytrader
cl, oil, day trading for Feb 3rd 2020From last close oil has been balanced long and in a decently tight consolidation looking for it next move. As always watch the red zone for the first directional clue. A move lower could come fast and expect a move higher will be more grindy, but what do I know, this is only my thoughts. The trick is let the market prove me wrong and take advantage of what it is showing you.. I like the idea of a Red zone bottom bounce and then see if we can break out the top of the red zone. If teh bottom lets go will change my long view very fast.
TVC:USOIL
by alleytrader
oil, cl, day trading for Jan 29th 2020The action is balanced long and looks to want to move higher as long as red zone bottom holds. down side has some very close targets so a move down could be just a peak below to see if there is any action so watch for buys around these areas if short. The move above red high has more aggressive targets and looks to me to be where the bigger moves could come. In the event we move down into Mondays range then I say the long side is done for a bit in a bigger picture.
TVC:USOIL
by alleytrader
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cl, oil, day trading for Jan 28th 2020Today we have a up move inside a balancing range so will be look at 2 things, 1) a move below the top dashed line for a trade back to bottom dashed line and possibly to the Red zone bottom. If Red bottom break then a move through to 52. 2) is a move above the top of Red zone or a bounce of top dashed line for a run to 55. 3) A consolidation day looking for the longs off bottom and shorts off the top. Ask me question if you need more info on how to play the different ideas.
TVC:USOIL
by alleytrader
oil, cl, day trading for Jan 24th 2020Oil is balancing as it gets ready to tell us what it plans next. not only is this info critical for the day trade ( that is fine just staying in the Red Zone for back and forth action) but also critical for the oil big picture trade also. I targeted oil down to 56 area before big decision time and now we went a little lower. On the chart are lower important big picture supports. So all this said will trade the balance unless the oil market picks a side by moving out of the Red zone.
TVC:USOIL
by alleytrader
Oil Prices, Triangle Continuation or Break Below?Oil prices has stalled temporarily as price has bumped into a powerful daily triangle formation. Due to the strength of this triangle in the past, I'm leaning to the short side here for a rebound after a strong bounce. We're currently watching a few levels here As always, even though we may lean one side or another on a trade(Long/Short), its important to come to the charts with a zero bias mindset. This is why I love the concept of trading with market structure. If you're wrong, you can know you're wrong in a very short amount of time and close the trade for a small loss. The structure gives you a higher percentage of success by only taking entries using key turning points in the market from the past. For the time being, market structure is giving a signal that price wants to go down. However, if price were to come back above 60.19, I'd change my bias and say Oil wants to continue moving up.
TVC:USOILShort
by DrCatherineHalsey