CRUDEOILM1! trade ideas
CRUDE OIL - BEARISH CONTINUATIONAfter drop raid last week. Crude oil are expecting to retrace during asian session to london killzone to form accummulation and manipulation. Hopefully a distribution will occur and bearish continuation is form
Smart Money Positioned to LONG Crude Oil - COT StrategyDISCLAIMER: This is not trade advice. This is for educational purposes only to demonstrate how I am looking to participate in this market. There is significant risk involved in trading, do your own homework and due diligence.
COT Strategy
LONG
Crude Oil (CL)
My COT strategy has me on alert for long trades in CL if we get a confirmed bullish change of trend on the Daily timeframe.
COT Commercial Index: Buy Signal
OI Analysis: Generally last few weeks OI has drifted lower while CM's adding to longs - bullish. CM's approaching extreme long positioning, but not quite there yet.
True Seasonal: True seasonal to go up until mid October - bullish.
COT Small Spec Index: Buy Signal
Front Month Premium - Bullish
Supplementary Indicators: %R & Stochastic
Remember, this is not a "Long Now" idea. These indicators are not timing tools. They simply tell us that this market could have a move of some significance to the upside, which we will participate in with a confirmed Daily trend change to the upside.
Good luck & good trading.
Scaled Water DragoonFirst things first!
THIS IS NOT A TRADING SIGNAL! The signal came 8/29/24 at 11:30 from an AI analyst tool that I created to be my automated analysis assistant.
It sends me alerts after very specific market ingredients have simmered in a very specific order.
This post is just to share my chart art with the world’s biggest hub of retail traders!
Without getting into the minute details of my eve, I will tell you an overview of what exactly has to happen before I get one of these alerts as they are rare market occurrences.
1. Lopsided market participation.
2. Institutional pricing level reached.
3. Massive liquidity present.
4 Abnormal Institutional Activty Detected.
5. Price Action Discrepancy,
6. Demand / Supply reached.
I have been working on this system for over a year and a half, August was the first month I had my analyst deployed on the market.
This was the best play I think I’ve seen anyone AI or human ever call out. I’m excited for the future of testing and watching what happens! I will continue to monitor this trade to see just how far it actually runs, currently sitting at 1:14 RR from the time of the AI trading alert to today.
US OIL UP?I'm just imagining various scenarios regarding US crude. Please don't take me seriously.
If you can see the two bright yellow horizontal lines, they represent a sloppy double top on the D chart. I've based the bottom on today's low, which also correlates to the Anchored VWAP low (wavey, nearly parallel fine red lines) that I set months ago, stupidly thinking that oil would not descend to that depressingly hideous low in this fearful "possibility of war strife world." Wrong again!
OK, I've taken the low yellow line to the imagined double-top. What's the difference? Something like 16 points or so? Then, I extrapolated, based on the actual chart data, to the projected month that it could reach soon, which is approximately March of next year. The top of the pink vertical line is where I'm guessing oil will get in 6 months. It could hit $100.
Please keep in mind that this is a thought experiment, nothing more! I would place the odds being 50/50. Yet, the timing makes sense since it's the weekend now, and no one can take more pain from these freaked-out indices! BTW, my charts of the NYSE Indices were screaming PANIC all week long, on daily and weekly chats, based on the indicators I use.
Many will rethink the world political strife regarding Israel, Ukraine, Libya, and all the other concerns that involve oil.
My study is only a wild guess; I am not a professionally trained anyone. Do your research, and I'd love to see your wild projections!
Looking for Crude bounce from 69$ to 73$ CL!Looking for Crude bounce from 69$ to 73$ CL!
Looking for Crude bounce from 69$ to 73$ CL!
Crude Bullish above 5796Crude is currently positioned at a crucial level with strong support around 5750 - 5800.
Can be bought close to those levels with Stop loss of close below those levels in 15 mins time frame.
How to Use Intermarket Analysis? - Crude Oil Potential DirectionAn example of Crude Oil and Palm Oil in my intermarket analysis to demonstrate how I identify potential upcoming trends and why I believe both are about to move.
To help narrow down potential opportunities in other markets, you can apply the techniques I am about to share.
Micro WTI Crude Oil Futures & Options
Ticker: MCL
Minimum fluctuation:
0.01 per barrel = $1.00
Disclaimer:
• What presented here is not a recommendation, please consult your licensed broker.
• Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
Elliott Wave View on Light Crude Oil (CL) Favoring More DownsideShort Term Elliott Wave in Oil (CL) suggests the decline from 8.13.2024 high is unfolding as a 5 waves impulse. Down from 8.13.2024 high, wave (i) ended at 76.83 and rally in wave (ii) ended at 78.6. The commodity extended lower in wave (iii) towards 72.89 and rally in wave (iv) ended at 74.16. Final leg wave (v) ended at 71.46 which completed wave ((i)) in higher degree. Oil then turned higher in wave ((ii)) with internal subdivision as a zigzag Elliott Wave structure. Up from wave ((i)), wave (a) ended at 73.52 and wave (b) ended at 72.81. Wave (c) higher ended at 77.58 which completed wave ((ii)) in higher degree.
Oil extended lower in wave ((iii)). Down from wave ((ii)), wave i ended at 73.82 and rally in wave ii ended at 76.91. It then extended lower in wave iii towards 69.19 and wave iv rally ended at 71.46. Expect Oil to end wave v soon which should complete wave (i) in higher degree. Afterwards, it should rally in wave (ii) to correct cycle from 8.26.2024 high before it resumes lower. Near term, as far as pivot at 77.58 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.
Oil Price Clears June LowThe price of oil clears the June low (69.42) as it extends the series of lower highs and lows from last week.
Crude Oil Price Outlook
The selloff in the price of oil may persist as it trades to a fresh weekly low ($68.95), with a break/close below $68.50 (78.6% Fibonacci retracement) opening up the February low ($66.60).
Next area of interest comes in around $65.30 (78.6% Fibonacci retracement) but the price of oil may continue to hold above the January low ($64.37) if it struggles to break/close below $68.50 (78.6% Fibonacci retracement).
Need a move back above $71.70 (61.8% Fibonacci retracement) to negate the bearish price action in crude, with a move above $74.00 (50% Fibonacci retracement) raising the scope for a move towards the $75.30 (61.8% Fibonacci retracement) to $76.30 (38.2% Fibonacci retracement) region.
--- Written by David Song, Strategist at FOREX.com
Crude Breaking Down From An Elliott Wave Triangle Crude oil turned down this summer, from the upper triangle resistance trendline, as shown on our daily count, so it looks like more weakness can be coming still this year as drop from 81 unfolded in five waves while pullback to 80.00 can possibly be already completed after recent drop below $70, and now also out of a triangle. So we think that bears are in progress now and that more weakness can be coming within impulsive sell-off. Any near-term bounce can possibly stop at $72.00, a new resistance. Rise above 74 will suggest that break down failed.
Sell Opportunity on Light Crude Oil toward 63.7$Hello,
We've identified a huge current opportunity to sell Light Crude Oil with a high probability in the Daily chart.
Our target is $63.7 within a few days (Swing trade).
Ibrouri
2024-09-03 - priceactiontds - daily update - oilGood Evening and I hope you are well.
tl;dr
Oil - Huge day for the bears. Both bull trend lines I had on my daily chart are now broken. 70 should be bigger resistance for now though. I expect the market to go sideways 69.5 - 71 for more time before another impulse. If bears manage to get below 69.5 tomorrow, that would bring 67 in play and really bad for the bulls. Neutral inside given range after such climactic selling but will join either side on strong momentum.
comment : Very interesting day for the bears. We broke below the triangle and are at the huge support price 70. Bulls need to step in big here or next stop is 67. If bulls come around big time and bears fail to keep it below 72, they could face a bear trap and another move back up inside the trading range. Big day tomorrow.
current market cycle: trading range (descending triangle now)
key levels: 70 - 73
bull case : Bulls are in do or die mode tomorrow. Fail at 70 and we will go 67 next. If they could generate strong buying, bears could fear a trap and exit longs. Most reasonable outlook is some sideways to up movement tomorrow. Bulls need anything above 72.
Invalidation is below 70.
bear case: Bears are now in full control of the market and they want to break below 70 and retest the December and January close/open prices around 67. Oil has not traded below 70 since June and there only for 2 days. Bears would need a big surprise again to break the 70 price. On the 1h chart there is a clean bear channel, which would go as high as 73.5 as of now. That channel is my preferred pattern for now.
Invalidation is above 73.
short term: Neutral. Expecting some sideways to up movement unless bears print a 15m bear bar below 70. Bears in control.
medium-long term: T riangle is dead. 70 has to hold or we might be in a new bear trend to 60 or lower. Will update after this week.
current swing trade: None
trade of the day: Shorting the double top above 74. Had to get short latest below 73 when the 15m or 1h bear bar closed.
How Low Can It Go?WTI Crude Oil (October)
Last week's close: Settled at 73.55, down 2.36 on Friday and 1.28 on the week
Last Friday’s sharp sell-off in the Crude complex came on the heels of a Reuters report that stated OPEC+ was planning on moving ahead with production increases. Momentum in the Crude complex is currently to the downside. WTI is off around -2% this morning to the 72.25 level (October), while RBOB is off -2.40% to 204.32. Diesel (Heating-Oil) is the strongest of the group being down only -1.26% to the 225.00 level.
Production plans out of OPEC+ is a catalyst we’ve keyed in on as being the next major driver in crude pricing trends. While markets still await a final, official announcement from the group, the uncertainty is still being traded as bearish this morning.
Yesterday, Libya announced Force Majeure of their El Feel Crude Oil field. Normally this would be a decent bull catalyst, but OPEC+ production increases will likely be at a level that offsets the Libyan barrels being taken off the market. Other catalysts moving the markets include continued weakness out of China and doubts surrounding U.S. economic growth.
Pricing pressure will persist until we have word from OPEC. Again, we advise caution and that misinformation surrounding OPEC+ announcements is commonplace. But, unless OPEC publicly refutes these reports of production increases, the risk is pretty clearly to the downside.
Early weakness in WTI Crude Oil futures has taken out significant support at 72.20-72.59, which will now act as our Pivot and point of balance on the session. However, only a close back above 73.55-73.60 is needed to negate this early fallout. The next big level of support aligns multiple indicators at 71.46-71.93, and a close below here will confirm the bears are in the driver's seat.
Bias: Neutral
Resistance: 72.89-73.00** 73.55-73.60***, 74.02**, 74.33-74.85***
Pivot: 72.20-72.59***
Support: 71.46-71.93***, 70.88-70.92***, 69.60-69.81**, 67.98-68.61****
Check out CME Group real-time data plans available on TradingView here: www.tradingview.com
Disclaimers:
CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Oil this is the day after Labor Day and Friday and Today Show that the market has minor gaps lower and that there's a chance that the market will break lower. the best trade location was on Friday of last week when it gave a nice reversal.... but I talked about that and discuss some of the details. I spent all my time on this video to give you details of how I think and judge probability and then I attached a stop. everything I can think about is what I discuss on this video. am not a mentor... you cannot pay me to be a mentor even though I did it for two friends when I started this.... and I will do this a little longer for two young guys that I want to help if they want to spend the time and study the videos. if you want a signal service you are not going to like this. this is to show you how to trade so that you don't need a signal service. I had a friend years ago who was a very good Trader and he was far better at this than I was but in the end he made some mistakes and is the same age as I am and he's essentially broke... and because of his bad decisions that he didn't monitor and respond to correctly he was afraid to trade. since we were still talking to one another he said he was going to use a signal service and I decided to stick around on the internet to talk to him about his very bad decision . he thought he did his due diligence and said that he followed this guy who was a public figure with Incredible credentials according to information my friend had and I told him watch it but do not trade it. I had even looked at a couple of videos that my friend told me about and I told my friend this guy is not going to be good for you and he gives too many trades in a day and you have to take the trades when you get the signal and he can give signals all day and all night and you don't have enough To trade the way this guy has set things up. I told him what he would have to do is pick and choose and that's a big problem when you have to pick and choose the trades that you like and not trade all the suggestions of a signal Trader which means you don't have a realistic assessment of how this Trader trades. it got worse than that because I told him I would watch with him and I would get the signals from my friend and also when he got out of the trades and both my friend and I couldn't believe how bad the trades were. this guy was terrible and the risk reward parameters and the fact that you would take 3 or 4 or more trades in a day made no sense. my friend is my age nearly broke and probably doesn't trade anymore. avoid people who make mistakes and use poor judgment..... you have to move on unless you want to be like those people you let surround you.
CL!Bottoming Out needs to break Resistance Area. As per current Cycle Crude Oil will try to vreak resistance soon
CRUDE UPDATE - Weekly overviewCrude Oil Weekly Technical Analysis
Timeframe: 1-Day
Resistance Level: 6,190
Expected Move: Pullback from 6,190 resistance towards 6,038 support zone
Support Level: 6,038 (multi-swing-low support area)
Outlook: Potential bounce off the support area could lead to a climb higher
Don't Forget To Push The Boost (Like) Button and Follow Me for more !
Best Regards , Shalvi Sharma
CRUDE**CrudeOil:**
This week's forecast is for the price to fall to the bottom of the funnel and then reverse the trend.
Crude Oil Slips: Third Consecutive Week **"Crude Oil Slips: Third Consecutive Week Of Losses Amid Mounting Bearish Pressure"** On Friday, August 30th, front-month crude futures sharply dropped before paring losses. OPEC+ is reportedly leaning toward an output increase in October. Our algorithm issued a daily chart sell alert on July 22, 2024, followed by a weekly chart sell alert on August 12. A break below the $69.28 price level on a weekly basis could potentially trigger a more significant decline, driving crude prices down to $60 or lower by early next year.
Cup and Handle in Crude today. BullishCup and holder pattern created on 5 minutes candle on the crude oil. It will go as showed on the chart.
This is for educational purposes only. It is not recommended to trade based on this posted idea. Take a trade on your risk.
Thank You.
Can the HOUSE Catch SHORT from Daily Consolidation EQ Level...?NYMEX:CL1!
"When you want to succeed as bad as you want to breathe, then you'll be successful. It's not about craving success like you crave food or water, it's about needing it like air. That urgency, that necessity—that's when you break through." -Eric Thomas
I consider this published narrative SHORT to be as HIGH probable as they come. Why? Due to the PA on the Daily TF... I have went into Gr8 detail here in the video as to why I'm SHORT Biased on this asset this week. Now of course this is all based upon probability!! IF PA can develop price building back into Daily Consolidation EQ Level ($74.75) / S&R Zone ($75.00 to $74.65) then i'll be compelled to go SHORT... My absolute STOP Level will be ($75.50) not willing to risk any higher... Remember our ultimate GOAL is to Master our SYSTEM over-time. We aim for 3-5 Possible HIGH PROBALE setups a week, nothing more than that!!! LESS IS MORE!!
Less Trades-Massive Profits!!
1) I'll keep close update as PA develops and we have more data to work with.
Remember when it comes to FRM (Financial Risk Management) our job is to manage the downside costs of printing High side returns of $$$ consistently. Let's Keep Steppn!!
Stay Focused & Reach Excellence!!
#BHM500K #NewERA #Champions
BREAKOUT OR BREAKDOWN...MCX:CRUDEOIL1! trade at 6200 level,
Support is at 5850
Resistance is at 7050
Crude oil trade in a range since 3 years. Now it ready for give a breakout or breakdown...
