Get started

Oilshort!

Which Way Does Oil Want To Breakout, Down or Up?Since collapse we have had a good recovery with a very strong impulse and the 3 day continues to shoot green. Now we are zoomed in on 12 hour timeframe. After the strong impulse, price action has started to range into something similar to an ascending wedge creating a test at the recent top with a tight price consolidation. These are the perfect kinds of moves you want to play. What we will look for next is to play a breakout either way out of the current compression point. Big volume should attack on the breakout. $30 high / $29 low. Currently in mid range. Let it lead into a transition on the daily candle to shift the indicators. Good luck.
AMEX:USO
by UnknownUnicorn2319099
8
OIL STRUCTURE SHORT|SCENARIO TRADING PLAN Oil has broken one of the diagonal support lines, while keeping the diagonal resistance intact. Coupled with the strong horizontal structure just above the current price, and the consequent likely pullback from it, our target trade is a short. As I said, the first diagonal support is already broken, thus: TRADING PLAN: 1-Wait for the second diagonal support to be broken 2-Wait for the breakout to be confirmed 3->>Go Short IF the breakout happens keeping the diagonal downward resistance intact>> SL above it. In any other case, this setup is invalid. The next target trade on the higher price levels would also be a short, with SL above the horizontal structure, but the breaking of the diagonal resistance would be a sign of strength, so the new price action analysis will be needed. Thank you for reading, like and subscribe and have a nice day!
FX:USOILShort
by ProSignalsFx
5
Downside looking support 35-36$$ (WEEKLY BASE)Price under the pressure of fear of 2n wave and again lockdown. Technically price sideways but coming expecting downside correction towards support level 35$ if price break 42$ and we can see next resistance level 45$ ( very less chance price go upside) as price coming from bottom 1$ currently overbought condition, correction required as indicator showing bearish coming days. 🛑SUPPORT/RESISTANCE ✅S1= 38$ ✅S2=35$ ✴️R1=41$ ✴️R2=42.25$ Please like, share, comments and follow me to get daily base analysis. Thank you for your support, I appreciate it.
FX:USOILShort
by Allmypips
OIL STRUCTURE SHORT|TRADING PLAN Oil is approaching an important horizontal structure, which gives a good probability of a retracement from it. Thus, our target trade is short. Trading plan: 1-if the diagonal support breaks>> 2-short with entry in the area outlined on the chart. 3-SL is ABOVE the dotted line. There is a small structure there, so it is safer this way. 4-two takes according to the horizontal structures. Place your takes slightly above the levels. Alternative scenario: 1-support breaks way below the specified entry zone>> a potential short, but with worse probability and less risk reward ratio. 2-support stands, the horizontal level breaks>>long Thank you for reading, like, subscribe and have a nice day!
TVC:USOILShort
by ProSignalsFx
2
US OIL - SHORTFrom the top of the drop down, Price has just done a 61.8 Fib retracement and i expect a retracement back to at least $25 in order to create some sort of higher high before continuing upward as the recent move has been very much over bought without a major pullback. On the MACD we have a bearish divergence indicating that the buyers are losing steam and pulling out profits. Further confirmation will come once our counter trend line gets broken we will look to enter more shorts after the retest. If price gets back above the 61.8 and creates a new high this setup will be invalidated.
TVC:USOILShort
by mariobillz7
4
USOIL; SHORT The recent optimism in oil markets has left many analysts scratching their heads, with no real fundamental reason for the shift in sentiment. Demand projections that suggest Asia or the world economy will be moving back to pre-pandemic levels anytime soon are laughable. The only justifiable optimism for oil markets at the moment is the optimism surrounding 2021 when we will likely see a monumental supply crunch. I am shorting with a small leverage . If SL was Hit ,i am shorting from above .
TVC:USOILShort
by MassineFariss
1
🤔 Keep An Eye On Oil. (USO)💰 LET'S GET INTO SOME OIL ANALYSIS!💰 1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤ (Overall Market Sentiment) 🐻 Bearish - 3day Chart - Doji Compression - 3/3 EMA DOTS Red Potential double top as oil takes a 5% hit today. Take entry based off indicators and add the breakout on the range drawn for extra confirmation on trend. Best of luck to you and all of your trades this week! 🤜 Drop your charts and comments down below, share with us what you think is going on in the markets! ❤❤❤ Thanks for checking out our analysis! ✌😁✌ 🥇MLT | MAJOR LEAGUE TRADER
AMEX:USO
by UnknownUnicorn2319099
3
💰 Wait For Green To Long Oil. (USO)🤔 Day 5, not including weekend of oils trend change. Your key Resistance level is the green upward support that we broke. This shows potential for a new trend as the Crossover strategy has been red and the ema dots have also been red. You will want to confirm a long position when the green align back above the new Resistance. Otherwise let it ride. This is for a longterm swing trade confirmation. Easy as that. Best of luck, 🎲🎲 🥇MLT | MAJOR LEAGUE TRADER
AMEX:USO
by UnknownUnicorn2319099
3
Urgent! WTI has successfully tested the broken support on D1As we've seen in our previous post, we succeeded to expect what will happen and we successfully had reached our target of 37$. Please note that our game now is on the daily chart as the price could successfully break the 37$ level which was a very important historical support, and then retested it on the H4 chart by making a bullish channel to touch the point and then to fall down, then it made a double-top formation on the h1 chart and RSI warning us that it's time to short. But on the D1 chart, why did it break the support then retested it? where it's going to? If you have a good eye, you'd see a double-bottom formation with a broken neckline on the 28$ level, but we haven't tested this line yet, so we need a confirmation between the area of 28$ - 32$. Yeah, a wide area, but it's because we have some strong resistances on 32.5$ (Fibo 23% of the bullish wave that started from 6.5$ + a historical resistance), 31$ (historical resistance, then 28$ (the neckline resistance). So, those should be our main targets in the long-term. When to sell on the H4 chart? As I've just said, it broke the 37$ level then went down to 34.4$, and from that point, it started to make a bullish channel and went to test our broken support. So, we need a H4 candle to close below the down-trend of the bullish channel, and we are about to have this right now, although it may go up a bit to close the gap that was made when the market opened today. And here we go, we are about to start shorting with so nice opportunity to have nice profits. Our target as I've said are 32.5$ (main target), 31$ (normal target), and 28$ (main target). We should put our stop loss above the right shoulder on 39.1$ and wait for H4 candle to close above it to make sure that it's time to close the 41$ gap. Don't forget to tell me your opinion and how you see OIL in comments! I'm waiting for you ideas Chiao!
FX:USOILShort
by Amro_Elzeiny
4