WTI OIL The worst is over. Buy Signal long term.Pattern: Emerging Channel Up on 1W. Symmetrical pattern with 2018.
Signal: Bullish after the 1W Support was tested.
Target: 66.70.
Oilsignals
USOIL Continuation Likely This is a try at USOIL pullback formation. The 4th corrective wave is seemingly approaching its final leg down.
WTI OIL Can the road to $70.00 be that easy?I am not going to over analyze this. Just a little possibility that the pitch fan indicates.
As long as the median provides Support (which was converted from a Resistance on the previous bullish leg) the 70.00 medium term target is possible. These indicators show that under those circumstances another +11% bullish sequence is certainly possible.
I know it may seem too ideal to be true but patterns serve this purpose. What do you think?
Hello, this is our point of view about US OILHello, this is our point of view about US OIL, as you can see we allready have a breakout, we wait for the 62$ support level retest and after we go into a long trade whit a possible 75$ profit target. We hope you enjoy our analisys. Have a good day!
very overbought market on wti, looking for pullback
hey guys,
wti is currently very overbought and I am looking for counter trend trades.
on 1H chart we see a formation of a descending triangle in an uptrend.
It is a very important reversal pattern and it is worth to focus your attention on it.
just wait and sell the breakout of the triangle's support.
your target will be based on structure around 60.0 level.
good luck!
USOIL (WTI) Previous Resistance turning Support?We all know WTI oil is bullish. It has been so since the violent bottom last December. The question is where it is better to buy?
Two scenarios:
1. The former Higher High Resistance (red line) has become a Support and the 1D Channel Up breaks aggressively upwards. So far it has provided support twice.
2. The 1D Channel Up pulls back and makes a Higher Low near the inner Higher Low Support (green line).
In both cases my TP is 65.00.
CFDs on WTI Crude Oil USOIL to SHORTOil is shorting from channel, watch for ichimoku crossover first, bottom region of drop outlined.
Warning; trading comes with risks, trade safely and within reason. All charts to be used for guideline purposes.
TRAILING CRUDE OIL PRICE ACTION- WHEN TO SELL!Thought I should make another crude oil analysis as market did hit the top of the channel line which i am expecting a drop from here, however still waiting for my last signal on the 4 hr view for downside confirmation.
Here is my other crude oil analysis which you should find quite informative;
DISCLAIMER;
Do set stop losses when trading but be generous with how much room you allow for this due to candle wicks and there is also the possibility to hedge yourself, for more confident traders.
All comments and questions welcome, if curious about indicators I use then feel free to inquire.
IF YOU SUPPORT IDEAS, LIKE, FOLLOW, SHARE ~ THANKS! ~
WTI OIL Sell Signal (Inverse H&S and support levels)Pattern: Inverse Head and Shoulders on 4H. Channel Up on 1D.
Signal: Bearish after the Resistance (Double Top) rejection.
Target: 58.40 (1st supporting line) 57.50 (1D Higher Low).
CRUDE OIL MARKET ANALYSISWhat you need to know about oil's current price action explained right here.
Also check out linked idea on oil market below, an even earlier and broader analysis.
DISCLAIMER;
Do set stop losses when trading but be generous with how much room you allow for this due to candle wicks and there is also the possibility to hedge yourself, for more confident traders.
All comments and questions welcome, if curious about indicators I use then feel free to inquire.
IF YOU SUPPORT IDEAS, LIKE, FOLLOW, SHARE ~ THANKS! ~
WTICOUSD came in major resistance zone.WTICOUSD came in major resistance zone. It is fibonacci 50% retracement.
BRENT OIL Buy Signals and possible scenariosSelf explanatory chart. The entries and targets depend upon which Channel Up prevails after the 69.00 test. In any case buying the dip with TP 70.00 and 71.00 is best suited.
GBP/JPY Reversal Bearish Setup - high risk reward tradeGBPJPY, Commercials and large speculators closing their positions in gbp both long and short, mean commercials and large speculators profit taking from both sides. long% decreased 2% while short% increased 2%. in jpy commercials and larges speculators doing same behaviour like gbp i.e profit taking. suspect one more spike upside to catch stop losses of weak holders.
WTI OIL Buy low. Sell high. Repeat.Pattern: Extended Bullish Megaphone on 1D that is posting a repetitive High Low candle sequence after each Channel Up.
Signal: Bullish but with a lower entry either at 56.00 or 54.50. Long term bullish break-out if the green line breaks (60.00 - 61.00).
Target: 60.50.
USOIL IHS Pattern finished? Morning everyone,
So it looks like oil is still in the chute for a price movement. Typically after an Inverse Head and Shoulders pattern, we see the price go up the same distance that can be measured between the head and the right shoulder. There is room for a follow through, but we are finding resistance in the $58.00/bbl area. As I've stated before, oil does need to reach $60/bbl for global "happiness" on oil prices. Presidents Trump's comments to OPEC last week, stating oil was still to high, caused oil to take a hard hit last week.
Monday, we saw about a 3% loss, regained some strength during the week, and then took another roughly 2% hit on Friday.
For this week, oil can go either way.
If you are doing a Binary trade, I would suggest either going above/below Friday's closing price of $55.80/bbl. On Nadex, this would be your weekly contract. They currently set it to $55.75/bbl.
Happy Trading!
Zak
WTI OIL Sell SignalPattern: Channel Down on 4H.
Signal: Bearish after making a Lower High.
Target: 55.00 (previous Low).
West Texas Oil - Bullish Trend Continues.....After a long accumulation range that end last quarter of 2018 , we saw a breakout with the price reaching the mid seventies.
This was our first indication that a trend is about to begin. The price then pulled back into the buy zone(75-87.5 fibs) and produced a buy pivot.
Good stopping volume came into halt the price as it move back to the center of the accumulation range.
In Wyckoff terms this is - "Jumping across the creek" and a "Back to the creek".
We should see price move higher, back above the mid seventies.
WTI OIL Buy on pull back or break-outPattern: Bullish Megaphone.
Signal: Bullish. Two entries. The pull back towards 53.00 (1) or the break out above the green line (2).
Target: TP(1) 58.00. TP(2) 60.00.
CRUDE OIL Complete trading plan on 1DPattern: Channel Up on 1D.
Signal: Short since the price hit a 55.75 Higher High. Long after it completes a Higher Low.
Target: Short TP 52.75. Long TP 56.50.
