Crude Oil (WTI USOIL) Short IntradayIt has been a rollercoaster day and oil seems to have finally stabliased but don't take my word for it as oil has a mind of it's own. The yellow lines are my TP lines. Enter and exit at your own risk.
DISCLAIMER
Please note that this chart is an opinion based chart only. Please trade at your own risk
Usoiltrade
USOIL Harmonic Crab Pattern Analysis and Strategy UpdatePrice action has moved as we predicted since our last analysis. Major resistance was not broken and price action fell to start the completion of the crab pattern. We are continuing to trade the 4th leg of the pattern and our final take profit is set at the green zone. TVC:USOIL
USOIL Daily Analysis and Strategy with FIBONACCI LevelsCrude Oil is at a crucial point with price action reaching the yellow 70.8 Fib level zone which is a major weekly resistance. Here we are looking for a pullback in price action. The prior analysis with the AB=CD harmonic pattern is also still in play as a part of the strategy. TVC:USOIL
USOIL - XTIUSD - Short OpportunityUSOIL is unable to push higher up. It has a weak foundation as support and we can expect it to drop further down below to find a good support before continuing its long term bullish trend, if still strong.
Leave your SL above the last high for enough space to move before the breakdown below.
Crude Oil Double Top - Possible Short NOWIn my previous analysis I mentioned watch the top for a possible short, So Price action tested the top of the expanding channel, tried breaking out but failed, leaving a double top here.
It has broken down the trend line so I am executing my shorts here.
Trade Safe!
Crude Oil bit more correction before a big SHORT tradeTVC:USOIL
Time frame: 4 hours
Trade idea description:
Crude Oil have been trading in a multi-days expanding channel, so far it is just few points away testing the top of this channel.
Over all trend is bearish and market is in a corrective structure, momentum on higher time frames is bearish as well, so keeping bigger picture in mind, i am waiting for this market to test the top of the channel where I see scope for MACD divergence, and fresh falls to be setting up. Stop and targets are mentioned on the chart.
All the follow ups will be posted under the update section.
Thank you for your support.
Trade safe and good Luck!
0131-USOIL Analysis.
USOIL
I told about oil long trend yesterday, and give two strategy for long position.
If you didn't get on the train, focus on the 54.14~54.20.
This trend will continue at least to 56.00.
Support: 54.14~54.20
Resistance: 55.20 / 55.75 / 56.08
Like if you trade, make Ideas or comments with me :D
US OIL LONG1. Confluence of inverse Fibb level of 1.786 and 0.618 from the longer time frame.
2. Entry signal from hourly timeframe. HIgher close above previous high.
3. Good RR. We can enter with a small position first and see how we can scale in.
4. Structure support has not been broken.
5. Stop loss can be below structure.
USOIL UPDATE - EXPECTED COMING MOVES - AS WE ALREADY FORECASTUSOIL HAS NOW BROKEN THE SUPPORT LINE
EXPECTING FURTHER DROP TO THE NEXT
SUPPORT LINE BEFORE WE SEE OUR NEXT
SERIOUS REVERSAL IT COULD EXTEND TO
NEXT SUPPORT LINE.
SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE
SEE PREVIOUS CHARTS