USDWTI H4 - Short Signal🛢USDWTI H4
We were following this yesterday and the volume surrounding data points as the NA session came into play caused some noise.
We are starting to stablise at and around that 71.50/72.00/b price. We have a clear hourly rejection sequence. So maybe active price can see us short down to $70.50 and then beyond towards that $69.50 price.
Xti
USDWTI H4 - Long from $69.50/bUSDWTI H4 🛢
Even after Saudi cuts, WTI is still trading within our range, expecting more headlines regarding OPEC+ and cuts this week and the next 🇸🇦
The range for the moment seems to be holding nicely between $69.50/b and $73.50/b with the exception of the market gap.
Longs from $69.50 would be attractive, as there are talks of Saudi looking to boost the barrel price up towards the $80 region. 📈
XTIUSD Short Trade from 81.25Basing this trade off of a trendline touch on the weekly timeframe and the weekly 100EMA being aligned. Coupled with the previous high made on XTI's downtrend, makes for solid confluences for an intraday short. I am not expecting crazy pips from the zone but will have a modest target as Friday is profit taking day for institutes. Stops at 43 pips and full tp at 150. Would prefer to see this occur later in the day around 3-4pm GMT.
Any criticism appreciated, and if you've spotted this trade too!
Happy trading.
USOIL sell opportunityOil news was bearish in particular (11.01.2023) with a very large supply increase at the EIA. However market rallied and took out many short positioned traders. We anticipated this and remained neutral. For now, we see a possible rise into the impending CPI news to take out more liquidity before the continuation of downtrend for USOIL.
USOIL 8th SEPTEMBER 2022Oil prices fell sharply on Wednesday (September 7th), slipping below levels seen before Russia's invasion of Ukraine as dismal Chinese trade data and growing fears of a global economic recession hurt fuel demand.
West Texas Intermediate (WTI) oil futures for October delivery plunged US$4.94 or 5.7 percent.
With lower prices this time it is a good opportunity to supply companies that are optimistic about surviving the recession and tightening monetary policy.
This week, OPEC+ is scheduled to discuss oil production cuts as part of their future strategy.
OPEC+ revised the market balance this year and expects demand to lag supply by 400,000 barrels per day (bpd) compared to the previous estimate of 900,000 bpd.
However, the group of major oil producers expects the oil market to be in deficit by 300,000 bpd by 2023.
" USOIL " Buy Trade ( With 1000 Pips Target )Good Morning Trader's ,, How Are You Today ?
Let's Explain Together "USOIL" Chart And Reasons To BUY From This Area !
1- What Is The Trend For USOIL ? Now ,, It's In Down Trend ,, We Have Break Out Trend Line And Channel And Wait To Break Out Resistance Area To Enter Buy
2- Why We Will BUY From This Area ? Trend Line Break Out - Channel Break Out - Gann Direction
3- When We Close The Target As Stop Lose ? When USOIL Close Down 90.00 With Daily Candle
Any Questions Please Write me On Comments !
" USOiL" Sell Trade ( With 300 Pips Target )Pair Name : USOIL
Time Frame : 15 Min
Analysis Type : Scalping Trade
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➡️ Main Support Level : 92.400
➡️ Main Resistance Level : 98.250
➡️ Time To Entry : After Break Out The Area And Test it
➡️ Target : 91.00 - 88.00 - 85.00
" USOiL" BUY Trade ( With 1500 Pips Target )Pair Name : USOIL
Time Frame : 30 Min
Analysis Type : Scalping Trade
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➡️ Main Support Level : 100
➡️ Main Resistance Level : 120
➡️ Time To Entry : After Break Out The Area And Test it
➡️ Target : 116 - 118 - 120
➡️ Stop Lose : 150 Pips After Break Out And Test
USOIL 20th JUNE 2022Before July, USOIL was seen moving in the consolidation channel area which tends to be bullish . in July, USOIL sentiment will tend to be bearish .
The Organization of the Petroleum Exporting Countries (OPEC) member states announced plans to adjust oil production upward in July by 0.648 million barrels per day.
In my view Oil prices are bearish but still not stable. Moderate bearish confirmation has not occurred, because the price has not yet breakout below the support area.
So I will place a buy limit near the support area, with the target not exceeding the weekly resistance which is drawn in the red area.
stop loss as well as sellstop below the support area.
USOIL 14th JUNE 2022Before July, USOIL was seen moving in the consolidation channel area which tends to be bullish. in July, USOIL sentiment will tend to be bearish.
The Organization of the Petroleum Exporting Countries (OPEC) member states announced plans to adjust oil production upward in July by 0.648 million barrels per day at the 29th OPEC and non-OPEC Ministerial Meeting on June 2, reports the organization’s press service. US President Joe Biden has repeatedly appealed to Saudi Arabia to increase its oil output without success. UK Prime Minister Boris Johnson also asked Saudi Arabia and the United Arab Emirates to boost production. He too was rebuffed.
OIL 18th MAY 2022Based on chart pattern analysis XTIUSD is currently forming a symmetrical triangle pattern, the price broke out above the resistance area, then retested. the price tends to be bullish going forward. Bullish target is up to 115.30 , stop loss if the price returns to the symmetrical triangle area.
USDWTI D1 - Long SetupUSDWTI D1
Mentioned about that daily close... Price confirmation is always relevant to the timeframe analysis. Especially when swing trading using these H4 and D1 zone.
The ultimate buy signal would be to see an engulfing candle from support upon todays daily close. But this may ruin RR potential.
WTI XTI USoil Crude Oil Supply And Demand Analysis-Uptrend is still intact.
-correction, impulse, correction, impulse.
-Inflation, war helps the strength in oil.
-WTI up25% for 2022.
-Yes, it's overextended but we still have not
seen sellers take control so with price
at its current location, I will be looking for longs
with confirmation.
Any questions don't hesitate to ask or reach out to me on social media @moneyballaustin