Crude WTI Oil (Saudi Prince tanks the oil price for security)View On WTI Oil (9 MAR 2020)
This is not a decline. It is a Crash.
Does your account get hit badly?
It is time to take trading seriously and learn the importance of Risk Management.
No systems (or) No Guru is 100% right all the time.
That's why we always say "DYODD".
The oil price may find some support near $25 region. Let's see.
DYODD, all the best and read the disclaimer too.
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WTI (Crude Oil)
Waiting for WTICOUSD long entry sign.Waiting for WTICOUSD long entry sign. The target price is 52usd. Oil prices have apparently collapsed. This is what I predicted in my analysis. So far I have been constantly in short position. I am now closing this huge profit and am planning on trading for a long time.
WTICOUSD Correctional Rise TP 51.37usd.WTICOUSD Correctional Rise TP 51.37usd. Oil started to make a correction. I recommend the following technique for trading this. The figure shows the yellow thin rectangle. This is the D1ATR range. Apparently, the oil rose higher, indicating that a further rise is expected. So I look forward to back testing to this level. This level is 45.89usd. From this level I move into a long position. The target price is 51.37usd. A STOP: 43.06usd RR: 2
WTICOUSD I hold the long position.WTICOUSD I hold the long position. The exchange apparently tested the bottom of the W1ATR correction range. It is also visible (thick red rectangle) that you have created a "spike" symmetrically over this range. Therefore, my analysis of the ascent is still valid. The target price did not change either.
Oil to trade over $100 Beginning of 2019 we saw a change in character with a sharp bull move to 66.20 level end in May 2019.
Oil as been in a accumulation until February 2020 where we saw a run on equal lows. Sweeping out stops positioned below the 50.20 level then trading higher.
This area dips down into the buy zone of the 61.8 fib retracement level. Institutions are defending the 50.5 level with a higher move above $100 handle, with a projected target of 113.20
WTICOUSD increasing uptrend movement.WTICOUSD increasing uptrend movement. The white rectangle in the figure shows the daily correction range for WTICOUSD. We follow a similar set of rules to the previous XAUUSD analysis. In the event that the exchange rate is successfully north of the white line at 51.30usd, a strong uptrend will follow. 1. In case the exchange rate breaks down this level, we wait for the lower level of the white rectangle (daily correction channel). 2.When this breaks, we begin to reduce risk. If these latter two scenarios are missed, we can prepare for a stronger upward trend.
WTICOUSD long waiting for entry.WTICOUSD long waiting for entry. A corrective phase has begun. I suppose the exchange rate could hit 49usd again. Creating this level (technically creating a double bottom formation), I look forward to turning north. The exchange rate is currently 1: 1 for fractal copying. The target price for the ascending wave sequence is 57.68usd
WTICOUSD long waiting for entry.WTICOUSD long waiting for entry. The analysis shows two fractals. If we look at the first fractal. You can see how the wave sequences are doubled within the fractal. We expect similar laws in the second fractal. But complicate it. The structure of the second fractal wave is basically larger than that of the first fractal. This is because the distance between the ATR closures (white narrow rectangle) is greater than the second fractal. Consequently, the amplitude of the second fractal volatility is also higher. This analysis was done in a 1W time frame. Therefore, I expect further correction up to the level of 56.32usd. I look forward to turning north again near the correction level. The next target price is 69.39 usd.
In crude oil, 70 levels can be tried for a short time.Crude oil may rise in trade wars between the US and China with the prospect of an optimistic treaty.
I think both sides will sign the treaties.
Although it has provided opportunities for very lucrative trade since the beginning of December, prices can be expected to climb to higher levels.
However, short positions may increase after 64.5 - 65
Even in Overbought regions, the strong weekly signal and favorable weather in the trade agreements are the main points of my share of this analysis.Or you can use this analysis to look for opportunities to buy in case of hold on the price support.
Related ideas show a successful acceleration in the weekly outlook, and give us a good basis with optimistic bulletin between USA and China.
You can review.
You can modify your stop levels according to your leverage.
I think this analysis is much less risky with the following parameters:
RISK/REWARD RATIO : 1/3
POSITION SIZE : % 1
STOP-LOSS : 57.7
GOAL : 69.183
Intermediate Oil Cycle - Bearish Correction until 2022I've recreated an oil wave count chart using some other aides and guides. Hopefully it helps some of you out there. I'll be breaking it down into the daily chart as well. Note that we're not heading into reversal yet, as the candle combo has not yet appeared.
This analysis has helped me define my counts and our overall trend directions.
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