Let's wait for the oil to riseDescription :
As you can see, we see a triangle that broke it upwards and there is a possibility of a price rise, and the first target will be near that peak.
Wtioil
USOIL, WEEKLY LONGPrice breaks major weekly resistance. Probable trade long market for the USOIL is high. Trade Long.
Crude Oil Looking Bullish!Where do we begin?
first, let's talk momentum.
Monthly - bullish
Weekly - turning bullish
Daily - bullish and increasing
4 Hr - so bullish
well, it seems like Crude will be revisiting $64.20 (target). There may be some turbulence along the way with the daily downtrend line but.. it's likely going to break. 🙄
Happy Trading folks!
Cheers!
Long Oil Trade! After a false break above the trendline, still, I was anticipating a move lower and perhaps a retest of the bottom trendline for a short entry... that didn't happen and so, we missed out. However, as we inch closer to fill the Shaven Head Candle which is marked on the chart, that same level is also a strong support level - hence the long trade to.. as you might guess, to fill a Shaven Head Candle at 62.83.
Happy Trading folks!
Cheers!
WTI OIL Buy SignalPattern: Channel Up on 4H.
Signal: Buy as the price rebounded on the Higher Lows trend-line of the Channel and is supported by the 4H MA100 (green trend-line), which has been the Support on the November 2020 - February 2021 uptrend.
Target: 66.00 (just below the 66.40 Resistance).
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WTI OIL First 4H Golden Cross since November!WTI Crude Oil has just formed a Golden Cross on the 4H chart (MA50 (blue trend-line) crossing above the MA200 (orange trend-line)), the first since November 12, 2020. The price action since March 12 is quite similar to late October - early November. After the Death Cross on October 27, 2020, a bottom was formed a few days later. Once the Golden Cross was formed on November 12, 2020, the very aggressive rally of December - March was initiated. We are on a similar situation right now. The March 26 Death Cross may have priced the Bottom and if so, then today's Golden Cross may kick-start a new rally. I expect a value above $70.00 before June.
Most recent WTI signal:
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Crude Oil Head & ShoulderHere's an hourly chart on Crude oil, looking for a break below to $61.50 then wait to see what the market structure will look like.
Happy Trading folks!
Cheers!
Check the oil situation
It has already touched the resistance and has not been able to break it, and it is likely that the price will fall and return to further support from breaking the resistance because there is a death cross in the stock RSI indicator.
If we see another attempt to break the resistance and succeed, it is likely to climb to its nearest peak
In general, the price is more likely to fall because it has not been able to overcome its resistance and a death cross has occurred in the stock RSI indicator.
ABCELooking for this move here guys.
But also this price ABCE is currently at could be a good entry with downside risk to .034c I doubt that level doesn't hold up.
Crude oil will stay above $60 for this year IMO and all OTC oil stock should do well IMO.
WTI OIL turned bullish againPattern: Channel Up on 4H.
Signal: Buy (A) after a pull-back on the 4H MA50/ Higher Lows trend-line, or (B) if Resistance 2 breaks first.
Target: (A) 66.45 (Resistance 2), (B) 69.00.
Most recent WTI idea projecting that rally:
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WTI Crude Oil..Wait for sell..Trade At Your Own Risk (TAYOR)Decending triangle.. Wait untill break below triangle..
WTI OIL Emerging 4H MA50/100 Golden Cross. Rally ahead?Simple fractal comparison on WTI as the price is consolidating since the March 23 low and is approaching the Higher Lows trend-line that started on December 01.
As you see the current price action is quite similar to the late October - early November one. After the 4H MA50 crossed below the 4H MA100, a bottom was formed a few days later. Once the two crossed again on a Golden Cross this time, the very aggressive rally of December - March was initiated. We are on a similar situation right now. Has the March 23 MA50/100 Death Cross priced the Bottom? And if yes will an emerging MA50/100 Golden Cross kick-start a rally?
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WTI OIL should avoid this fractal at all costs.I don't call it Fractal of Doom for nothing. As you see WTI Oil hit the 2 year Resistance trend-line (red zone) that was first created on the April 23, 2019 High, and got strongly rejected on March 08, 2021. This is a Triple Top (counting the Jan 08, 2020 almost hit). A common characteristic of all three rejections is that after the initial drop, the price consolidated (orange rectangle) around on the 1D MA50 (blue trend-line). On the first 2 occasions, a bigger fall took place after this consolidation. Will it happen again this time?
It is worth pointing out also the important of the 50.00 - 51.00 zone (blue) as a long-term Support. It didn't only hold from January 2019 to January 2020 (broke due to the COVID pandemic) but also on January 2021. If the bigger fractal fall comes after the current consolidation, will that (blue) Support Zone hold again and cause another lengthy sideways period between this and the (red) Resistance?
I am really interested to read your opinions on it.
P.S. See the RSI similarities
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Crude Oil - Thoughts for 5 April 20218 hr chart with monthly view
Possible flag forming starting 23 March with last leg under development
50% retrace from 23rd low is 62.5x
Volume profile from March is outside of February which could be indicating a sideways month
April S1 is 55.1x and R1 is 65.8x and could possibly form the trading range for the month
Short term looking for a setup to take price first to S1 and then to R1 toward end of April
4hr Chart with weekly view
Looking at flag on chart with last leg under development
Volume profile for coming week inside last week's indicating a possible breakout week
Pivots compressing week over week with previous week compress 41% and this past week an additional 28%
Looking for fill of flag then larger correction down to April S1 (55.1x). Not sure how fast correct will occur or if this week consolidates more.
Weekly R1 is 62.71 and potential target for top of flag
100 tick renko
DEMA flipped negative signaling more down to come
looking for red brick with long wick high for trigger to buy June Puts
{/list]
50 tick renko
Flag developing. looking for completion to find a signal or trigger
USOIL/WTI/CL (crude oil) 25% retracement, next bullish explosionFirst of all: Where are we?
For having a better idea about the scale and location of my analysis, I added this snapshot of the chart in the weekly timeframe:
About the core of my idea:
My analysis is based on the weekly AND 13h timeframe.
Well, once again, I spotted an interesting downtrend channel in the weekly. And as always, I am waiting for the price to come back down, and retest said channel.
This time, I am waiting for it to find support on the middle of the channel.
That expectation is fueled by the following:
In the 13h timeframe, I found a channel, which has already proven to be reliable, as the green rectangles prove.
As always, I won't try to catch every move, but just the ones I patiently wait for to happen - and I will only take the chance if everything works out as planned - or I will replace my analysis with a newer one. I don't desperately chase a trade, and if my scenario doesn't happen out as expected, I decide to miss out on the trade.
Remeber, there are plenty more opportunities to make money in the market - on a daily basis. So, I'd recommend to quickly move on if something doesn't work out properly, and look for a better, more reliable opportunity. Even if that means to miss out on a 60%, or 178% move. Be patient, and have a strict trading plan about WHEN to execute a trade, and WHETHER to execute it, or better skip it.
So, what is the core of my idea?
I am waiting for oil to continue its correction until it enters my buy area (50.10 USD).
When it comes to "timing", I am expecting the price to ideally find support when both channels meet each other, and when it hit my buy zone of 50.10 USD.
From there, my trade setup will look like this:
I am using a very tight stop loss in this trade, because there is a chance, price just pierces through this support area, and re-visits the lower areas of both channels. Due to that, it wouldn't make any sense to extend the stop loss, but instead, try again later, when it finds support in the lower areas of said channels.
The initial RRR (Risk/Reward-Ratio) is approx. 47, if it keeps soaring, the RRR may later increase towards 124-ish.
I received some PMs about the white "construction" and what it is. Unfortunately, I am not allowed/willing to share what this is about, due to disclosure-issues; All I can say is, that it has proven to be very reliable, and I will always include this "censored" and simplified version of it in my ideas, as it's part of the whole core-idea. It's basically points of reversal, future support and resistance, so basically: I use these white lines for closing trades, or taking profits.
Conclusion:
I am very confident that we will see prices as high as 80, or even 135-ish in oil at some point, and I don't want to ignore this possibility. On the other hand, I will try to find a RELIABLE entry, and will skip on it, in case it doesn't work out as planned.
targets with price-tags:
Take care everyone, and thank you for reading. ;) As always, feel free to download this analysis for better understanding or scaling!
OIL UPTRENDOIL UPTREND
Good luck for your trades.
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market.
But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
WTI - Short IdeaHave been sitting on my hands with OIL / WTI these days, took 3 losses in a row, that's when I just walk away.
Here we are again.
I have laid out the idea in the post, but...this is a crazy time to be trading oil. Use risk management!
WTI OIL Rebound on the 1D MA50Pattern: Fibonacci Channel on 4H.
Signal: Buy as the price hit the 1D MA50 (green dotted line) and rebounded while the 4H MACD made a Bullish Cross.
Target: 69.00 (the 2.0 Fib extension) and 72.00 (the 2.5 Fib extension).
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WTI OIL Buy SignalPattern: Fibonacci Channel on 4H.
Signal: Buy as the price just hit the 4H MA50 (blue trend-line). The region within the 4H MA50 and 4H MA100 (green trend-line) has been the most optimal buy level since November. Also the RSI is very close to its Support Zone.
Target: 69.00 (just below the 2.5 Fibonacci extension) and 72.00 (just below the 3.0 Fibonacci extension).
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