OIL Moving up? WTI double bottomI got into this yesterday at $4.40 speculatively but we are holding and moving up so I thought I would share this trade. It looks like a good oversold condition on many time frames, sitting at support as well. Macd curling up potentially! I'd like to target that 200ma personally, then let some ride. Not financial advice, DYOR.
Oiltrading
west oil updatewe are in a big extended triangle , after making wave d of this triangle , now it’s want to ready for making wave E , targets are at least $140 and above $200 for all 2023
WTIUSDHello TradingView Family
Here is clean simple clue! US Crude is about to strike liquidity on buyside that our Draw On Liquidity for now to reach price point 7644.1
Ill be visiting 1,3 ir 5min TF for entry code ! 1min recommendable because our HTF Sponser is 1H
Actually this is how it works
H4=15-5min
H2=5-3min
H1=3-1min
No Financial Advise just professionally analyzed for educational purposes & tips
Crude Oil Weekly Volatility Analysis 12-16 Dec 2022 We cCrude Oil Weekly Volatility Analysis 12-16 Dec 2022
We can see that currently the implied volatility for this week is around 6.51%, up from 6.33% from last week according to OVX data
With this in mind, currently from ATR point of view we are located in the 83th percentile,
while according to OVX, we are on 77th percentile.
Based on this, we can expect that the current weekly candles ( from open to close ) are going to between:
Bullish: 4.62% movement
Bearish: 5.6% movement
At the same time, with this data, we can make a top/bot channel which is going to contain inside the movement of this asset,
meaning that there is a 21.3% that our close of the weekly candle of this asset is going to be either above/below the next channel:
TOP: 76.33
BOT: 67.24
Taking into consideration the previous weekly high/low, currently for this candle there is :
30% probability we are going to touch previous high 76.2
67% probability we are going to touch previous low 70.1
Lastly, from the technical analysis point of view, currently from
Weekly timeframe indicates -66% BEARISH trend from the moving averages index
Daily timeframe indicates -80% BEARISH trend from the moving averages index
4H timeframe indicates -53% BEARISH trend from the moving averages index
US Crude Oil At Support Level for Long Trade.US crudeoil is at support level . it is also trading at very support level of channel pattern . According to chart pattern analysis we might see bounce back in us crudeoil from current level towards the 80 level .
trade with stop loss and own capital risk management.
views / opinions are welcome to discuss.
WTI - BULLISH CHANEL MOVEMENTWTI - All public data releases regarding one of the most traded futures on the financial markets are slightly controversial lately. What we can observe on a 1D chart is leveled bearish channel that is following so far all rules of the systematic bounce of the formed channel, if we don't observe a break below the current level it is likely to see another bounce the to mid-80s. Following the ease-up in China's Covid-19 restrictions is another reason to believe price recovery due to bulls' push might be happening in the near future.
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CRUDE OIL TO HIT $63 PER BARRELOil has been oil steady fall, in short...on 15th october few days after the OPEC global supply cut announcement i posted it here that price would continue to fall till it reach $70,
That has played out and according to DANCOLNATION CAPITAL STRATEGY, The next price target is $63 before $60 on a round number
Trading Strategies for Capitalizing on the Volatility of OilAs financial market traders, we are always on the lookout for trading strategies that can help us capitalize on market trends and conditions. One such strategy is to take advantage of the volatility of oil prices.
Oil is a valuable commodity that is subject to significant price fluctuations. There are several reasons why oil is volatile, including limited supply, high demand, geopolitical instability, and speculation. These factors can cause the price of oil to fluctuate rapidly and often unpredictably, which can create opportunities for traders who are able to anticipate and capitalize on changes in the price of oil.
One way to take advantage of the volatility of oil prices is to use a trading strategy known as "contango trading." Contango trading involves buying oil futures contracts and holding them until they mature. When the price of oil is in contango (i.e. when the futures price is higher than the spot price), traders can profit by buying the futures contracts and holding them until they mature. This allows traders to take advantage of the difference between the spot price and the futures price, and can provide an attractive return on investment if the price of oil rises as expected.
Another way to take advantage of the volatility of oil prices is to use a trading strategy known as "spread trading." Spread trading involves buying and selling oil futures contracts with different expiration dates. When the price of oil is volatile, the prices of different futures contracts can diverge, creating opportunities for traders to profit by buying and selling these contracts. For example, if a trader expects the price of oil to rise in the short term but fall in the long term, they may choose to buy a short-term futures contract and sell a long-term contract. If their prediction is correct, they could profit from the difference in the prices of the two contracts.
Overall, the volatility of oil prices can create opportunities for traders who are able to anticipate and capitalize on changes in the price of oil. By using strategies such as contango trading and spread trading, traders can potentially profit from the volatility of oil prices and generate attractive returns on their investments.
In Depth
Contango Trading - This strategy is based on the expectation that the price of oil will rise over time, and it is used by traders who want to capitalize on this expected price increase.
When the price of oil is in contango, it means that the futures price is higher than the spot price. For example, if the current spot price of oil is $50 per barrel, and the futures price for oil to be delivered in six months is $55 per barrel, then the price of oil is in contango. In this situation, traders who use contango trading would buy the futures contracts and hold them until they mature, hoping to profit from the expected increase in the price of oil.
The profit from contango trading is the difference between the spot price and the futures price. In the example above, a trader who buys the futures contract at $55 per barrel and holds it until it matures would make a profit of $5 per barrel if the price of oil remains at $50 per barrel. If the price of oil increases above $55 per barrel, then the trader's profit would be even greater.
Contango trading is a risky strategy, as it is based on the expectation that the price of oil will rise over time. If the price of oil does not rise as expected, or if it falls, then traders who use contango trading could suffer significant losses. Additionally, the volatility of oil prices means that it can be difficult to predict the direction of price changes, which can also create risks for traders who use this strategy.
WTI: What will happen in next days?Crude oil (WTI) created strong downtrend and continues. If we see weekly and monthly charts then we can see this candles as downside direction.
But I don't think that it will go more down without any corrective waves. Firsly, we have to wait for 78.15 max then price will continue own movement again.
My targets for longterm are 71.91, 69.28 and 65.80.
Note: trading with commodities carries high risks.
XTIUSD...SELL (11%)Expecting a barrel of XtiUsd to fall to $71.300 per barrel. As XtiUsd rejected from its two previous highs on Thursday New York opening and todays Pre-new York session. I'm looking for some market to to supply orders and hence which in turn will lead to this drawdown!!!
Brent crude bearish sentiment Commentary:
Despite the optimism around the reopening of China from COVID restrictions, oil prices remain vulnerable to fears of a global economic slowdown. The EU’s price cap at $60 per barrel while OPEC+ is expected to maintain existing production targets adds towards the bearish outlook on price.
Brent crude : Last weeks gains can be viewed as a “corrective” bounce off the $81 support; since price has pierced below the September 26th lows at $82.30 may serve to keep alive the bearish price sentiment; downside potential spotted near the $79.7s while upside seems limited to $89.2 in the short term (5-25 days).
Not investment advice. Past performance is not indicative of future results.
USOIL on a descendi ng channel 🦐USOIL on the 4h chart is trading inside a descending channel in a series of lower low lower high.
The price tested the weekly support and moved back above the structure, testing now the upper trendline.
How can i approach this scenario?
I will wait for a potential break of the channel and if that will occur i will look for a nice order according to the Plancton's strategy rules,
-––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
20 Reason for sell OIL 🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️
1 ✨Eagle eye: Sideways
2 📆Monthly: Bullish to corrective mode
3 📅Weekly: a clear bear trend is established with proper lower lows
4 🕛Daily: bear and filled out corrective move now just ready for the next impulse move in bearish side
😇7 Dimension analysis
🟢 analysis time frame: Daily
5: 1 Price Structure: bear
6: 2 Pattern Candle Chart: long shadow rejected at resistance
7: 3 Volume:
8: 4 Momentum UNCONVENTIONAL Rsi: Sideways to bear
9: 5 Volatility measure Bollinger bands: rejected at the middle band
10: 6 Strength ADX: just beginning strength for bears
11: 7 Sentiment ROC:
✔️ Entry Time Frame: H4
12: Entry TF Structure: sideways
13: entry move: wait yet
14: Support resistance base: upper resistence
15: FIB: nil
☑️ final comments: wait for breakout
16: 💡decision: sell
17: 🚀Entry:79.90
18: ✋Stop losel: 81.5
19: 🎯Take profit: 73.66
20: 😊Risk to reward Ratio: 1:6
🕛 Excepted Duration: 10 days
How to profit from Crude Oil - LONG (and short) The USA is in a political battle over the price of oil with OPEC and right now they are winning, but how low can they go? Not too much lower actually, they need to start buying again to ensure their strategic reserves remain useful and not at risk of dropping below the requried levels to support the country in times of emergency.
OPEC $64 - To ensure OPEC break even on oil product, they will control the market above
SPR $72 - To replenish the reserves the USA is a buyer at $67 - $72 a barrel, not too far from where we are now
EU $70 - The EU are in talks to ensure Russian oil cannot be sold above $70
Pin Bar $77 - We have a bin bar rejection to support the market move North again
Fib 78.6% - We've rejected this level 7 times on the weekly and daily chart
Target 1 - We've already tested and profited from this move upto $82 and we'll be doing that again
Target 2 - Fib 61.8% at 88 will be our next target
Target 3 - Fib 50% at 92 will be our final target
Short - If we break down past 77, we'll be a buyer just below at the SPR support levels.
BIG UPDATES PART 1 (CHAPTRE 3)We're back with breaking news
Expecting oil retracement to the 85$ zone before a "ready to launch phase"
Big pockets on the edge and i might sound crazy but we can touch the +100$ zone in a very short time of a period.
Risk of your own and i wont recommend any TP or SL in this one
If you lose don't blame me
if you win don't thank me
As always lose to win and risk to gain.
that's the moto.
The full chapter:
1) Sell "Done"
2) Buy "We are Here"
3) Sell