OIL Long1)Trend defined. 4h uprent.
2)Contradictory limit order entry. Pull back of shake out.
3)Default loss. A bit lower than the "shakeout" low.
4)Default target level. 4.94.
5)Risk <= 3%.
6)Singular trade.
7)Trades placed today <= 5.
CL-OIL trade ideas
Crude oil Is Approaching ResistanceCrude oil is coming higher on 4h time frame, out of a wave B bullish triangle that we have been tracking through December. Well, we know that moves out of a triangle are final in a sequence, so we can expect limited upside, and ideally, this will cause the completion of wave E rally of a larger bearish triangle pattern. It's now approaching an important resistance at 74-75, its gap from mid-October, right at the upper side of a triangle. There is a chance for a turn soon.
A triangle appears to reflect a balance of forces, causing a sideways movement that is usually associated with decreasing volume and volatility. The triangle pattern contains five overlapping waves that subdivide 3-3-3-3-3 and are labeled A-B-C-D-E. It’s a region of horizontal price movement, a consolidation of a prior move, and it is composed of “threes.” That means each of the A-B-C-D-E waves have three subwaves. The triangle pattern is generally categorized as a continuation pattern, meaning that after the pattern completes, it’s assumed that the price will continue in the trend direction it was moving before the pattern appeared. However, triangles also indicate that the final leg is coming before a reversal and that’s why triangles are labeled in wave B, wave X or wave 4.
Crude oil - ready to correct?There’s undoubted skittishness in crude oil at the moment, in much the same way that it can be seen across US equities and stock indices. Again, this comes as traders and investors come to terms with a possible market turning point, and struggle to adjust accordingly. Crude looks as if it is breaking out from its long-running downtrend. This morning, front-month WTI hit its highest level since early October, coming within 25 cents of $75 per barrel. While recent dollar strength is providing a headwind to all dollar-denominated commodities, crude continues to make good upside progress. But it will need some sort of corrective pullback, followed by another significant advance, to garner the wider attention that a sustainable bull run requires. The daily MACD still indicates that momentum is to the upside, but it is approaching levels which have previously preceded a sell-off. The depth and shape of the next decline, whenever that may come, will provide clues as to whether this bull run has legs or not.
Analysis of USOIL and Falling Wedge Breakout PotentialThe forex pair USOIL is currently priced at 75.000, with a target price set at 103. This indicates an expectation of significant upward movement. The technical pattern in focus is the Falling Wedge, a bullish reversal pattern often found in downtrends. In this setup, the price consolidates between converging trendlines, suggesting decreasing momentum in the downward movement. A breakout above the resistance line typically signals a trend reversal.
Traders anticipate a breakout in this case, leading to a potential rally towards the target. This scenario implies increased buying pressure and positive market sentiment. Risk management is crucial, as breakouts can sometimes fail. Confirmation of the breakout, such as strong volume or a clear candle close above resistance, adds reliability to the trade setup. Monitoring key levels closely will help refine the strategy.
WTI OIL Critical crossroads on the 16-month Resistance.WTI Oil (USOIL) is having a strong rally in the past 30 days following the rebound on the 2-year Support Zone. This Zone has contained all 1W candle closings above it, so this rebound is coming as a natural technical reaction for buyers but it is about to face a critical Resistance Cluster.
First is the 1W MA50 (blue trend-line) but the most important level is the 16-month Lower Highs trend-line that started in late September 2023. Technically, as long as it holds, the price is more likely to get rejected now back towards the Support Zone, so at the moment we are bearish with a 68.00 Target.
If the Lower Highs trend-line breaks and WTI closes a 1W candle above it, we don't expect the 1W MA200 (orange trend-line) to offer much Resistance, so we will take the small loss on the short and switch to buying. Our Target in that case will be Resistance 1 at 84.50.
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USOIL BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
We are going short on the USOIL with the target of 71.93 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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USOIL - is it continues pattern? What's next??#USOIL - perfect holding as per our last idea and now market again make fresh support and just trade above.
That is 74.40 around, keep close it and if market holds 74.40 then am expecting further bulish oil.
Good luck
Trade wisely
oil updateI told you about the oil update on Friday a few days ago
And until now there is still respect for my chart
Are you satisfied with this analysis and respect for the numbers I wrote for you!
Now the price of oil has exceeded 74 now
Now you should watch this chart
Don't forget to follow me and support me
USOIL - Long Trade Idea Update - Long Position Triggered...We have officially entered this long trade for Crude Oil, targeting a minimum upside of $97.50. In this video, I provide a quick overview of the trade idea, confirming it aligns with AriasWave principles, as the price held above the support level.
You can find the original idea linked below.
USOIL Potential UpsidesHey Traders, in today's trading session we are monitoring USOIL for a buying opportunity around 73.60 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 73.60 support and resistance area.
Trade safe, Joe.
2025.01.07 USOIL is correcting down to support zoneHello traders:
Last Friday's Alert:
On the daily chart, oil closed bearish on Monday, forming a reversal and retracement signal for the daily trend.
Therefore, using support structure levels, the short-term retracement targets are:
TP1: 71.80
TP2: 70.50
GOOD LUCK!
LESS IS MORE!
USOIL TRADE IDEA: LONG | BUY (07/01/25)Price has slowed down - it’ll most likely pull back especially after a good day or two. Price will return to discount and seek to go up.
RR:2.4
NB: This is not financial advice. Trade safely and with caution.
Waiting for Clarity: Insights on Oil and the 70 Put OptionsLet’s talk about WTI oil for a moment.
In the upcoming monthly expiration series set for January 15, there’s some interesting action happening with the 70 put options. Traders aren’t just dumping these puts; they’re actively reselling them, and there are definitely buyers stepping in. What’s even more intriguing is that the same 70 puts are being picked up in the next options series as well.
Now, if you look at the charts, it seems like prices have finally broken out of that range they’ve been stuck in for a while and are gearing up to move higher.
With this kind of sentiment in play, I’m going to hold off on making any buys for now and wait for some clearer signals before jumping in.
WTI reaches key resistance zoneCrude oil prices have been stealthily rising over the past couple of weeks, but now is the real test as prices have reached some important resistance levels.
As per the chart, WTI faces a band of resistance from its bearish trend line, 200-day moving average, and prior support and resistance, all converging around the psychologically important $75.00 level.
Specifically, the resistance range comes in between $74.55 to $77.50. Yesterday's bearish price candle was the first sign of a potential reversal, although we haven't yet seen any downside follow-through.
Support comes in around $71.50, the base of the recent breakout. Below that, $70.00 is the next downside target, followed by the recent lows.
By Fawad Razaqzada, market analyst at FOREX.com
CRUDE OIL TO HIT $160?! (UPDATE):It's been a few months since I've done an update on my Crude Oil analysis, as Oil prices have been stagnant & consolidating. But in the past week & a half we've seen a huge push to the upside, with Oil now sitting at a 3 month high!
Currently up 700 PIPS (10.40%) in profit from our support zone. Long term I still remain bullish from a technical standpoint. Also, we already know from a fundamental standpoint, the puppet Donald Trump will be used to worsen geopolitical situations globally, weather that's in the Middle East or with China & Russia.
USOIL LONGSee the opportunity below. The character changed and you need just a good entry. Seeing the global wars and sanctions on Russia (Also new sanctions on international oil companies sell Russian oil), you can also understand the change of character. Good luck!
(Also we have second entry below)!!!
USOIL TF 2H 7125wait till price come into the zone and break out with big green/red candles
entry (TF 2h,4h)
SL at previous low/high
TP at Fibonacci
USOIL Take it as it isI don't think TVC:USOIL will surpass the purple box anymore for the forseeable future.
Mostly (as a worst case scenario) I see it maybe touching the upper limit but nothing more.
TPs are well marked on the chart. Hopefully I will nail it down more or less with the timeframe aswell.
Fundamentals are clear as daylight too.
USOIL Will Fall! Short!
Please, check our technical outlook for USOIL.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 74.10.
Taking into consideration the structure & trend analysis, I believe that the market will reach 72.60 level soon.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
Like and subscribe and comment my ideas if you enjoy them!
USOIL WEEKlLY ANALYSIS #USOIL. The buyside is rich. As price continues to surge for bullishness...... Thought there might be some short term rally on price fluctuations on intraday time frame, the Monthly t
imeframe will surely come to fruition
OIL bearish bias down to $72.50The price currently trades around $73.37 and appears to be in a retracement phase after a significant sell-off. The overall structure suggests the market may continue to test lower levels with a clear rejection from the recent highs near $75.00, followed by a steady move downward.
Resistance: $74.00, where a rejection occurred
Support: $72.50, which aligns with a previous structure low
Let me know if you agree with my idea ?
Falling towards overlap support?WTI oil (XTI/USD) is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance which acts as a pullback resistance.
Pivot: 72.97
1st Support: 71.51
1st Resistance: 75.22
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